Value Added Tax and Sales Tax (comparative overview)


I. INTRODUCTION: The Value Added Tax (hereinafter referred to as VAT) and the sales tax are indirect consumption taxes. Nevertheless, there are substantial differences between them. This paper aims at comparing the VAT, as currently imposed in Republic of Bulgaria and the sales tax, as currently imposed in the Commonwealth of Pennsylvania. The paper will focus consecutively on some of the most important features of the VAT, respectively the sales…
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