VAT is one of the top sources of government revenue and April 1 marks 50 years since its introduction in the UK by Chancellor of the Exchequer Anthony Barber, who dubbed it ‘a simple tax.’
However, for years, VAT has been at the heart of media fury, national debate, and business headaches. Some of the most famous blunders spurred on by the goods and services tax range from pasties to prawn crackers and debate whether tampons should be considered a luxury or necessary item.
- Survey gauges the impact of VAT on UK businesses
- Complexity leads to significant time spent for businesses
- Businesses are turning to technology to combat complexity
- Survey methodology
Source: www.avalara.com
