What is VAT?

Old Jul 24th, 2001, 06:33 AM
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What is VAT?

I'll be traveling in France & Russia in August and hear about a discount "The VAT". Can anyone tell me exactly what this is and how do I obtain this card? Thanks.
Old Jul 24th, 2001, 06:38 AM
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VAT stands for value added tax.
Old Jul 24th, 2001, 06:41 AM
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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%.

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.

No card is involved.
Old Jul 24th, 2001, 07:05 AM
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In the UK, VAT is 17.5% on most things.

There are some items on which VAT does not apply, in particular books and children's clothes.
Old Jul 24th, 2001, 07:08 AM
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You will be able to recoup VAT in France for merchandise taken out of th country, but not Russia. Russian VAT is in name only . . nothing like the rest of the European VAT.

Enjoy . . Rich
Old Jul 24th, 2001, 02:07 PM
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"Vat is VAT"?

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