VAT (Hansard, 20 June 1997)

HC Deb 20 June 1997 vol 296 c336W 336W

§ Mr. Boswell
To ask the Chancellor of the Exchequer what proportion of VAT was paid by businesses and is recoverable as a business cost in each of the last three years. [3446]

§ Dawn Primarolo
The approximate proportion of total VAT paid which was paid by businesses and recoverable as a business cost in each of the last three years was as follows:

1994–95: 78 per cent.

1995–96: 79 per cent.

1996–97: 78 per cent.

VAT is paid and recovered at each stage in the process of production and distribution of goods and services by taxable persons.