What is Sales Tax?
What is Sales Tax?
What is Sales Tax?
Sales tax is a consumption tax imposed by a government on the sale of specific goods and services. Typically, sellers collect this tax from consumers at the time of purchase and then remit it to the government. In many countries, this tax is known as a Value-Added Tax (VAT) or Goods and Services Tax (GST), which function differently but still serve as consumption-based taxes.
Some countries display prices without tax, adding the sales tax at checkout, while others include it in the final listed price.