1973 UK join the EEC & Adopts VAT

This is listed in Social Snapshots 1969-2000 inc

UK JOINS

On 1^st January 1973 the UK joined the European Economic Community.

PURCHASE TAX GOES, VAT COMES

UK Purchase Tax, which was imposed on the wholesale price at 25%, gave way for VAT, which was added to the purchase price and was set at 10% on most goods and services.