Tag : Sales Taxes

Countries With the Highest Sales Taxes

kristine Oct 15, 2020 0 45

In the U.S., sales tax varies by state. Around the world, however, many countries have instilled a nationwide sales tax. In fact, a number of these nations — including those in the European Union (EU) — administer a Value Added Tax (VAT). As a consumption tax, VAT is collected at each stage of the supply chain, as opposed to a sales tax, which is collected only at the point of sale. Luckily, travelers to the EU can receive a VAT refund to recoup some of that spent money.