What are the characteristics of VAT? Explain in detail!

Value-added tax is a turnover tax levied on the basis of the value-added generated in the process of commodity circulation. From the tax principle, value-added tax is a turnover tax levied on the added value of many links such as commodity production, circulation and labor services or the added value of commodities.

Extra-price tax is implemented, that is, it is borne by consumers, and tax is levied only if there is value added, and tax is not levied if there is no value added.

Value-added tax is levied on the value-added realized by units and individuals selling goods or providing processing, repair and replacement services and imported goods.

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