Where did VAT originate and why?

VAT stands for value added tax. The practice originated in England with the purpose of regulating the prices of goods and services while at the same time giving the businesses allowance to gain profit. However, the VAT practice in England is different from that of the Philippines. In England the government determines the production or service cost of a businessman and the profit or "mark up" he intends to have. The VAT, or valuated tax, is then computed based on the intended profit. In the Philippines, the VAT is simply an added cost to the customer which is, actually, a passing of the tax obligation from the businessman to the customer.

Paper has a protracted historic past, beginning up with the classic Egyptians and persevering with to the modern. For 1000's of years, hand-made procedures ruled and then, for the time of the nineteenth century, paper production became industrialised. initially meant in basic terms for writing and printing purposes, a brilliant variety of paper grades and makes use of at the instant are obtainable to the buyer.

It all started in the old Roman days.