Value added tax: the economic nature and general issues of levying in the EU and the Republic of Belarus
The article discusses historical and theoretical aspects of forming a value added tax. Researched are the peculiarities of various methods of its calculation as well as its advantages over other indirect taxes. Shown is the practice of its application and harmonization within the European Union. Analyzed is the mechanism of calculation and payment of the value added tax in the Republic of Belarus, and the measures taken to improve it. Substantiated is the necessity of increasing the efficiency of tax administration and simplifying the procedure of its calculation.