Open Question: What is Value Added Tax?

There has been lots of discussion on the horizon regarding Value Added Tax (VAT). I have seen a lot of confusion among the people regarding VAT. While searching for some valid information about the VAT I went to this site. Difference between sales tax and VAT has been narrated quite easily here. Do visit it. http://uptodatearticles.com/2010/06/value-added-tax-vat/