VAT Definition

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.

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Mentioned in these terms

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output tax
ad valorem tax
business tax
delivered duty paid (DDP) [named port or place of destination]

input tax
point of sale (POS)
indirect tax
sales tax

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VAT is ...

... part of the Taxes subject.

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VAT