What is the definition of Value added tax (vat)? | Dictionary.net

VALUE ADDED TAX (VAT)

\vˈaljuː ˈadɪd tˈaks vˈat], \vˈaljuː ˈadɪd tˈaks vˈat], \v_ˈa_l_j_uː ˈa_d_ɪ_d t_ˈa_k_s__ v_ˈa_t]\

Definitions of VALUE ADDED TAX (VAT)

1910 - Black's Law Dictionary (2nd edition)

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An indirect tax placed on goods and services paid by producers and consumers. This tax is added at each manufacturing stage adding value. Refer to ad valorem.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

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