Term:
General sales taxes
Definition:
General sales taxes consist of all general taxes levied at one stage only (e.g. manufacturing or wholesale or retail) plus multi-stage cumulative taxes (also known as cascade taxes) where tax is levied each time a transaction takes place without any deduction for tax paid on inputs.
Domain:
Economics & National Accounts
Source:
OECD 5112 and 5113 [7.69]