All of the following are characteristics of a value-added tax system, except: (a)Value-added taxes are taxes on consumption (b)The end user pays value-added taxes (c)Value-added taxes are charged at...

All of the following are characteristics of a value-added tax system, except:

(a)Value-added taxes are taxes on consumption

(b)The end user pays value-added taxes

(c)Value-added taxes are charged at each stage of product development

(d)Value-added taxes are charged only on the raw materials for product development