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Taxes and duties (called the value-added tax, or VAT) charged on international sales are often due upon receipt of the item. So when an unexpected bill comes - payment due upon receipt - you spend the night pacing the kitchen floor. 4 million, of which 50% will be due when the project begins, 25% will be due upon receipt of FDA approval for the syringe, and 25% will be due after receiving the syringes. |
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