Value Added Tax (VAT) is a consumption tax applied in many European countries. It is typically charged on goods and services that are sold or provided within the country, but can also be applied to imports from abroad. In most countries, the standard VAT rate is between 15% and 25%, with further reduced rates applicable for certain services such as food, transportation and healthcare. The rules vary across Europe – some countries have multiple VAT rates while others have unified rates.
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