Value-added tax is a turnover tax levied based on the added value generated during the circulation of goods as the basis for tax calculation. In terms of tax calculation principles, value-added tax is a turnover tax levied on the new value added in multiple links in the production, circulation, and labor services of goods or the added value of goods.

An extra-price tax is implemented, that is, it is borne by consumers. Taxes are only levied if there is value-added, and no tax is levied if there is no value-added.

Value-added tax is levied on the value-added amount realized by units and individuals who sell goods or provide processing, repair and repair services, or import goods.

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