VAT

Definition

Value Added Tax. A consumption tax which is levied at each stage of production based on the value added to the product at that stage.

Use VAT in a sentence

You need to always factor in the vat when making a big purchase so you know that you really can afford it.

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The worst part of buying in the UK is having to pay the VAT, which can increase a computer build price by more then 20%.

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When my company transferred me to England, I was shocked to learn that we would have to pay VAT tax each time we sold a half-finished product to another company to reflect the work that we put in.

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