Topic Videos
Taxation - Economics of Value Added Tax
- Level:
- GCSE, AS, A-Level, IB
- Board:
- AQA, Edexcel, OCR, IB, Eduqas, WJEC
Last updated 29 Dec 2022
This revision video looks at value added tax (VAT) which is one of the top three generators of tax revenue for the UK government.
VAT is an ad valorem indirect tax which is charged on the purchase of many goods and services. The standard rate of VAT in the UK was increased from 17.5% to 20% from January 2011 and has remained at 20% since then. Some goods and services are exempt from VAT.
You might also like
Significance of PED with Indirect Taxes
Topic Videos
Fiscal Policy - How Much Could be Raised by a Wealth Tax?
27th October 2022
RIP Trussonomics - The Chancellor's Emergency Fiscal Statement
17th October 2022
IMF issues a critique of UK fiscal policy
28th September 2022
Teaching Activity: Super Villains (Macroeconomic policies)
Teaching Activities