value-added tax
Pronunciation
/vˈæljuːˈædᵻd tˈæks/
VAT

Definition & Meaning of "value-added tax"in English

Value-added tax
01

a tax put on the value added to a product at each stage of the supply chain, affecting the final price which the consumer pays

Grammatical Information
Animacy status
Abstract
Composition
complex compound
Countable
Plural form
value-added taxes
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