Difference between revisions of "VAT"
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| − | Value Added Tax, or VAT, is a tax set forth by the [[Country administration]] that increases the selling price of items at the [[marketplace]].<br />The minimum VAT percentage on market prices is '''1%''', the maximum one is '''25%'''. Tax revenue is added to the country | + | '''Value Added Tax''', or '''VAT''', is a tax set forth by the [[Country administration]] that increases the selling price of items at the [[marketplace]].<br />The minimum VAT percentage on market prices is '''1%''', the maximum one is '''25%'''. Tax revenue is added to the country [[Treasury]]. |
| − | Example: If a citizen decides to sell one unit of [[Food]] for $1.00, and the countries VAT for food is 5%, then he will earn just $0,95 for that unit of [[Food]] (1.00-0,05). | + | ;Example: ''If a citizen decides to sell one unit of [[Food]] for '''$1.00''', and the countries VAT for food is '''5%''', then he will earn just '''$0,95''' for that unit of [[Food]] (1.00-0,05).'' |
So be careful when you place an offer on the market. A good idea to avoid losing money is to calculate your real income once VAT is applied, before to place the offer. | So be careful when you place an offer on the market. A good idea to avoid losing money is to calculate your real income once VAT is applied, before to place the offer. | ||
| − | Tax rates can be viewed by clicking on the [[Economy]] | + | Tax rates can be viewed by clicking on the [[Economy]] on [[Country stats]]. |
| − | '''VAT is not added to the price of raw materials.''' | + | Please note: '''VAT is not added to the price of raw materials.''' |
| − | ==See | + | ==See also== |
*[[Income Tax]] | *[[Income Tax]] | ||
*[[Import Tax]] | *[[Import Tax]] | ||
| − | |||
{{Back|Taxes}} | {{Back|Taxes}} | ||
{{MenuEconomy}} | {{MenuEconomy}} | ||
[[Category:Laws]][[Category:ERepublik Legacy Articles]] | [[Category:Laws]][[Category:ERepublik Legacy Articles]] | ||
Revision as of 13:40, 8 August 2013
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Value Added Tax, or VAT, is a tax set forth by the Country administration that increases the selling price of items at the marketplace.
The minimum VAT percentage on market prices is 1%, the maximum one is 25%. Tax revenue is added to the country Treasury.
- Example
- If a citizen decides to sell one unit of Food for $1.00, and the countries VAT for food is 5%, then he will earn just $0,95 for that unit of Food (1.00-0,05).
So be careful when you place an offer on the market. A good idea to avoid losing money is to calculate your real income once VAT is applied, before to place the offer.
Tax rates can be viewed by clicking on the Economy on Country stats.
Please note: VAT is not added to the price of raw materials.
