Applies to all EC countries, Switzerland and other countries around the world. A tax on the estimated market value added to any product at each stage of its manufacture or distribution, ultimately passed on to the consumer. The percentage applies to CIF value and duties and the percentage differs from one country to another. Local VAT on forwarding/handling services is not charged between EC companies with a registered VAT number, or to non-EC exhibitors on condition the local forwarder executes Customs clearance and transport.