What is VAT?
#3
Guest
Posts: n/a
VAT is a sort of sales tax that's included in the quoted price (i/o $20 price tag, then 7% sales tax added at the checkout counter, the price tag reads $21.40). In most countries, the VAT is high - like 17%. <BR> <BR>Tourists buying souvenirs can recoup the VAT when they leave. With a minimum purchase (about $100 in most countries), you're given paperwork by the store, which is stamped by customs when you leave the country (or last stop in Europe). The money can be sent to you in a check (don't - takes too long) or be credited to your credit card or bank account. <BR> <BR>No card is involved.


