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17:10
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Originally posted by Infose
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The principle behind the VAT tax is that the tax is imposed on the buyer all the way up the supply chain of a product from the initial purchase of raw materials through to the retail consumer of the product. This when compared with a sales tax brings advantages and disadvantages, but that is an issue about which this is not the appropriate forum to talk about.
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Already spelt it out in some detail incl China's rationalisation & methodology, and that is based on many years research of Chinese data pre & post RE tariffs & quotas, along with consultation with several active RE exec's both sides of the bamboo curtain (there aren't that many of them, reckon I've spoken 1:1 with most).
(20min delay)
