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Taxable Person |
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Taxable Person The person or company from whom a government collects a value-added tax. A value-added tax is a tax on the new value of a good or service at each stage of the production process. The taxable person is thus assessed a tax on the value added to the product, rather than the total value of the sale. The taxable person is always the seller, though the tax is almost always passed on to the customer in the form of a higher price. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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