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A guide to VAT in Australia

In July 2000, the Australian federal government introduced the Australian Goods and Services Tax (GST); a form of VAT that shares many similarities with Europe’s most mature VAT systems. Primarily, the parallels between the Australian regime and those long-established systems in Europe are based on the requirement for recalculation and payments to be made to the tax authority at every transaction point throughout a sales chain.

Source Innovate Tax

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