vat on essentials and basic commodities
"VAT on essentials and basic commodities" refers to the imposition of value-added tax (VAT) on goods and services that are considered essential for daily living and basic necessities. It means that a certain percentage of the price of these goods and services is added as tax, ultimately affecting their affordability for consumers.
Requires login.
Related Concepts (1)
Similar Concepts
- basic needs
- commodities
- commodity markets
- common goods
- complementary goods
- cosmetics and personal care products
- essential goods
- essential items
- goods and services tax (gst)
- vat fraud and evasion
- vat on financial services
- vat on food and beverages
- vat on healthcare services
- vat on luxury goods
- vat on real estate transactions