All terms

Glossary

What is VAT (Value Added Tax)?

Also known as: Value Added Tax

VAT (Value Added Tax) is a consumption tax charged on the value added at each stage of a supply chain and ultimately paid by the end customer. Retail POS software must apply the correct VAT rate per market — for example 5% in the UAE, 15% in South Africa, and 16% in Kenya — and produce compliant tax invoices.

Related terms

GST (Goods and Services Tax)E-Invoicing

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