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Multi-stage sales tax may appear as multi-stage gross sales tax and multi-stage net in the form of sales tax, known as value added tax (hereinafter VAT). VAT is also known as the net sales tax. Charged at each stage of the transport cycle, but affects only the value that is added at this stage of the taxpayers and ultimately affects final consumption. Added value in a specific phase is the difference between the value of output, ie. sales and values of inputs, ie. procurement at this stage. VAT exists in all European countries, all OECD countries except Australia and the United States, many countries of Francophone Africa, most Latin American countries, South Korea, China, Indonesia, etc. VAT was introduced in Serbia by the Law on Value Added Tax which was passed in 23.07.2004., and applies from 1.1.2005. He was made on the model of the corresponding legal regulations of the European Union. All revenue from VAT belongs to the budget of Republic of Serbia and he is the most abundant form of taxation in Serbia and the tax systems of EU member states.


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