Is vat calculated on selling price

Please provide any two values from the following inputs to calculate the remaining values.

What is VAT?

VAT (value-added tax) is a type of indirect consumption tax imposed on the value added to goods or services, specifically during different stages of the supply chain, which may include production, wholesale, distribution, supply, or any other stages that add value to a product.

VAT is commonly used by governments around the world as one of their main sources of revenue, and accounts for approximately 20 percent of worldwide tax revenue. It is the most common consumption tax in the world and is enforced in more than 160 countries.

All countries that are part of the European Union (EU) are legally required to enforce a minimum VAT rate, and since its introduction in the 20th century, European VAT rates have consistently increased. The U.S. is the only developed country in the world that doesn't use VAT.

VAT Differences between Countries

While all countries follow a general VAT blueprint, there are a lot of differences in the finer details of their respectiv

how value added tax works

how is value added tax paid