Dictionary

value–added tax

noun

: a tax that is added to products at each stage of their production

Full Definition of VALUE-ADDED TAX

:  an incremental excise that is levied on the value added at each stage of the processing of a raw material or the production and distribution of a commodity and that typically has the impact of a sales tax on the ultimate consumer

First Known Use of VALUE-ADDED TAX

1935

Browse

Next Word in the Dictionary: valuedPrevious Word in the Dictionary: value–addedAll Words Near: value-added tax
April 26, 2015
rococo Hear it
excessively ornate or intricate
Take a 3-minute break and test your skills!
How to use a word that (literally) drives some people nuts.
Test your vocab with our fun, fast game
Ailurophobia, and 9 other unusual fears