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Home > QFINANCE Dictionary > Definition of VAT

Definition of

VAT

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 "VAT"

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

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