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tax - definition of tax - A fee charged (\levied\) by a government on a product, income, or ... Browse by Subject Licensing Advertising Business Dictionary Help Add to Google

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

A tax based on consumption that is levied on the price of the goods being sold. VAT is commonly levied in Europe and essentially is a sales tax.

Definition. Indirect tax on the domestic consumption of goods and services, except those that are zero-rated (such as food and essential drugs) or are otherwise exempt (such as ...

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value-added tax n. ( Abbr. VAT ) A tax on the estimated market value added to a product or material at each stage of its manufacture or distribution,

Value Added Tax (VAT) Definition ... Value added tax or VAT is an indirect tax, which is imposed on goods and services at each stage of production, starting from raw materials to ...

value-added tax. n. Abbr. VAT. A tax on the estimated market value added to a product or material at each stage of its manufacture or distribution, ultimately passed on to the ...