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What is VAT?

WHAT IS VALUE-ADDED TAX?

VAT is a tax charged on most goods and services purchased in Europe. Not every expense is eligible for reclaim in every country and VAT rates differ by country. In some European countries, entities may reclaim VAT on business expenses such as hotel rooms, food & beverage, venue rental, audio-visual, entertainment, transportation, professional services, etc. VAT is usually quoted as inclusive, meaning that it is already included in the quoted price.