VALUE-ADDED TAX

Pronunciation (US):

(GB):

 I. (noun) 

Sense 1

Meaning:

A tax levied on the difference between a commodity's price before taxes and its cost of production

Synonyms:

ad valorem tax; value-added tax; VAT

Classified under:

Nouns denoting possession and transfer of possession

Hypernyms ("value-added tax" is a kind of...):

excise; excise tax (a tax that is measured by the amount of business done (not on property or income from real estate))

Credits