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A brief summary of VAT, tariffs and duties

Summary by Rayner Essex
VAT and tariffs Suddenly, customs duties and tariffs have captured the spotlight and are dominating global news. Who would have thought that such a mundane topic would play such an important part of both domestic and international commerce? There is a lot of talk from the US President that VAT is a tariff, and if the logic is “a tax is a tax” then Trump would be right, but not all taxes are taxes, and VAT is not a tariff because whilst they are …
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Rayner Essex broke the news in on Monday, April 7, 2025.
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