Calculation of VAT in the United Kingdom

In the United Kingdom (UK), businesses are required to calculate and pay value added tax (VAT) for all taxable transactions, including both conventional forms of business and e-commerce. VAT is charged on goods, and some services, that are imported from places outside the European Community and on goods and services coming into the UK from other EC member states. The standard rate of VAT in the UK is 17.5%.

The following questions have been addressed in this article:

How is VAT calculated?

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