It’s no coincidence the sales tax in all U.S. states falls below that threshold. In the EU, though, the average VAT across the 27-nation bloc was 21.5% in 2023, according to calculations by ING ...

The VAT system is used to tax the consumption of goods and services in more than 170 countries, making the United States an outlier for not having one. Here’s how it works.

Greece stands out in the EU for its heavy reliance on indirect taxes, a trend that disproportionately impacts lower-income ...

Estonia's overall tax burden is among Europe's lowest, yet consumption taxes — especially VAT — rank among the highest. Over ...

TOKYO -- Japan's looming upper house election is shaping up as a referendum on whether the country should cut its consumption ...

Tax experts usually refer to the three Es in taxes – equity, efficiency and ease of administration. A VAT increase, done properly, would tick all the boxes.