What is the difference between vat and tot

VAT stands for Value Added Tax. It is a consumption tax placed on a product or service at each stage of the supply chain, where a tax is levied on the difference between the cost of inputs and the price at which the business sells the product or service. TOT typically refers to Turnover Tax. This is a tax levied on the total sales or revenue of a business, regardless of its profitability. It is often a simpler tax to administer but can be burdensome for businesses with low profit margins.