nils
Apprentice
Joined: 12 Apr 2007
Posts: 4
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 Posted: 10/12/07 - 04:35 Post subject: |
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| Hi, guys. I am about to buy my first car. Since I have never done it before, it is logical that I have some uncertainties. For instance, my friend tells me I have to pay VAT. What is that? I asked him, but he couldn’t explain me clearly. I was hoping someone could do it better. Thanks. |
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hillyer
Apprentice
Joined: 07 Jul 2006
Posts: 8
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| Posted: 11/28/07 - 01:36 Post subject: |
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| Hello. Don’t worry, I will try to explain that to you. VAT stands for Value Added Taxes. Simply told, it is tax on exchanges. It is different from sales tax which is on total price. VAT is only for added value. Business consumers are able to recover VAT. In your case, if you are a taxi driver, contract car operator, school driving operator or something similar, you can recover VAT. If you are only a personal user, then you can’t reclaim VAT. Don’t hesitate to ask me something more what you are interested in. Have fun! |
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