India and China may also introduce VAT

The Value Added Tax (VAT) originally comes from France. India introduces the VAT next year, while China is switching to the new system these days – Magyar Nemzet Online wrote.

After several months of debate, the Egyptian parliament this week adopted a law according to which next year a 13 percent value added tax (VAT) rate will be introduced as part of the economic reform package. (mno.hu, Horváth Attila)