What is a value added tax (VAT)? Group of answer choices It is the European version of a sales tax, which is paid by the purchaser based on sales price Taxes used in lieu of sales tax and incorporated into the price of a product or service The tax paid by a foreign corporation on its fixed assets This is the name of the corporate income tax in Canada, Australia, and the United Kingdom What is the "Safe Harbor Rule?"

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A valueadded tax VAT is a tax used in lieu of a sales tax and is incorporated into the ... View the full answer