A general tax which applies at each point of exchange of goods and service is?
Answer Details
A general tax which applies at each point of exchange of goods and service is called "Value Added Tax" or "VAT". It is an indirect tax that is levied on the value added to goods and services at each stage of production and distribution. VAT is based on the increase in value of the product or service at each stage of production or distribution, rather than on the final selling price. The tax is usually a percentage of the value added, and is paid by the consumer at the point of purchase. VAT is a common form of taxation used by many countries around the world.