Could you help me with VAT?
As one ordinary consumer,
it seems like seeing VAT-exempt items and VAT 0-rated items on a receipt is like nothing.While traveling ,I probably can retreive the amount of VAT I have paid but the amount I can retreive from VAT exempt items and VAT 0 rated items are, overall, both 0 (whatever correcy it is). How does the fact affect us, ordinary consumers?
I might misunderstand some parts about it.
So I am guessing it much more affects companies or entrepreneurs.
They have to submit to somewhere the exceeding amount of VAT they have overpaid or gained 4times a year(?). VAT 0 rated items and VAT exempt items affects when calculating how much they have to
Do I understand VAT correct?
Please tell me where I misunderstand or missed.
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