EPISODE · Feb 1, 2026 · 10 MIN
The VAT - How it Works and How Fraudsters Drain the System
from Chairman's Report · host The FAIRtax Guys
Over 170 countries around the world have adopted the value added tax (VAT) as their primary revenue source. With President Trump looking to abolish the income tax, many in Congress are looking at a VAT as its replacement. While it may sound good in theory, there are some serious problems with a VAT. AFFT president Steve Hayes lays it all out in this week's Chairman's Report.
What this episode covers
Over 170 countries around the world have adopted the value added tax (VAT) as their primary revenue source. With President Trump looking to abolish the income tax, many in Congress are looking at a VAT as its replacement. While it may sound good in theory, there are some serious problems with a VAT. AFFT president Steve Hayes lays it all out in this week's Chairman's Report.
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The VAT - How it Works and How Fraudsters Drain the System
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