There often is debate about whether, if we went the national consumption tax route, a value-added tax (VAT) or retail sales tax (RST) would be better.
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Consumers may cut back on spending now that the main rate of VAT (value-added tax) has returned to 17.5% after 13 months at 15% to counter the recession.
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The only real way to pay for those benefits will be a value-added tax, or VAT.
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Despite increasing consumption taxes like VAT (value-added tax), the informal economy can still provide relief through various markets and bazaars.
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You could think of it as a Value-Added Tax on financial transactions which are normally exempt from the VAT.
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