WHAT ARE THE ADVANTAGES AND DISADVANTAGES OF VAT?

Answer 1

Check these out:
http://www.google.com/search?source=ig&hl=en&rlz=1G1GGLQ_ENUS274&q=%22value+added+tax%22+advantages&btnG=Google+Search

Answer 2

For disadvantages, this is a good one:
http://www.heritage.org/research/taxes/bg1852.cfm