VAT

/væt/
/væt/
IPA guide

Other forms: VATS

Definitions of VAT
  1. noun
    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
    see moresee less
    type of:
    excise, excise tax
    a tax that is measured by the amount of business done (not on property or income from real estate)
Pronunciation
US
/væt/
UK
/væt/
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