Turnover tax (turnover tax, sales tax; in the form of value added tax, VAT)

Basically, a tax on supplies and other services that a company performs in the country against payment.
Because this makes the exchange of goods more expensive, it also has an impact on the value of money. The central banks therefore monitor changes in the tax rate very closely, both the standard rate and any reduced rates. – Within the European Union, the Sixth VAT Directive of May 1977 establishes a relatively uniform rate of VAT, namely an all-stage tax on net turnover with deduction of input tax; colloquially referred to as added value tax. – See excise, beer money, octroi, ungeld, withholding tax, value added. – Cf. Monthly Report of the Deutsche Bundesbank of April 2008, pp. 31 ff. (detailed presentation of price effects; overviews; references).

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