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In your own words, explain how a value-added-tax works.
Your response should be at least 200 words in length. All
sources used, including the textbook, must be referenced;
paraphrased and quoted material must have accompanying
citations.
Moffett, M. H., Stonehill, A. I., & Eiteman, D. K. (2012).
Fundamentals of multinational finance
. (IV ed., pp. 389-391). New York: Pearson.

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