Dave wrote:
On Fri, 14 Mar 2008 20:55:45 +0000, Larry said:

So, Larry, you think that if the VAT rate is 20%, and I buy parts for
$.80 and resell the assembled product for $1.00, I'm going to have to
collect and pay over to the guvmint $.20 in VAT?

Rolled into the price outside the USA. Every point on the chain from when
they dig it out of the ground where money changes hands, VAT is added and
rolled into the price when it goes up the chain.....

And now would you answer the question?

Clearly Larry does not understand VAT systems, (GST in some places).

Cheers
Marty