Comment on Why does raising the retirement age hurt young people?parentComments−MattPalmer10861yVAT is not corporate income tax, and it is not levied on profit or income.As a business, you can deduct VAT that you had to pay to others from the VAT you charged your customers, and you only pay the difference.So the only people who end up paying are the final consumers. It is essentially cost neutral to a business - you just have to account for it properly.UPDATE: in the UK, at least.
Comments
VAT is not corporate income tax, and it is not levied on profit or income.
As a business, you can deduct VAT that you had to pay to others from the VAT you charged your customers, and you only pay the difference.
So the only people who end up paying are the final consumers. It is essentially cost neutral to a business - you just have to account for it properly.
UPDATE: in the UK, at least.