VAT, also known as Value Added Tax is a type of consumption tax collected in various countries at different rates. It can be seen different on the perspective of the buyer and seller. From the buyer's point of view, it is a tax that is paid on any product purchased. Form the seller's point, it is the tax that is on the value added to the product or item sold by him. VAT is collected in different forms in different countries. Here are the VAT calculators for different countries.
Value added tax is sometimes referred to as General Sales Tax or Goods and Services Tax or simply as GST. All businesses require a registration for VAT processes in their countries.