Value Added Tax (VAT) has become an essential source of income for governments worldwide. Therefore, considering the principles of VAT - an indirect tax - please explain why it is such a successful tax and how it operates in practice.

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 Value Added Tax (VAT) has become an essential source of income for governments worldwide. Therefore, considering the principles of VAT - an indirect tax - please explain why it is such a successful tax and how it operates in practice.

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