VALUE ADDED TAX IN THE TAX SYSTEM

Abstract

The focus of the paper is the value added tax, which as a tax form has gained enormous popularity and application in a large number of countries in a relatively short period of time. Many problems of political, economic and legal nature are connected with its essence and existence. The internationalization of companies' operations at the global level has highlighted the need to create unique guidelines for VAT policy-making within the Organization for European Economic Cooperation (OEEC), which should contribute to the elimination of distortive segments of national VAT systems. Likewise, integration processes and globalization have influenced a kind of regionalization and globalization of taxation goals, and thus the principles of taxation. The fact that in less than fifty years, the value added tax of the tax form, which experts in the field of tax policy welcomed with great distrust, has become a tax that collects a significant percentage of total tax revenues, speaks volumes about the desirability of this form of tax.