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Definition of

value-added tax


tax added at each manufacturing stage a tax added at each stage in the manufacture of a product. It acts as a replacement for a sales tax in almost every industrialized country outside North America. It is levied on selected goods and services, paid by organizations on items they buy, and then charged to customers.

Related definitions of "value-added tax"

Definitions of ’value-added tax’ and meaning of ’value-added tax’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’value-added tax’ and other financial terms with our online QFINANCE Financial Dictionary.

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