Simple Definition of value–added tax
: 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
Seen and Heard
What made you want to look up value–added tax? Please tell us where you read or heard it (including the quote, if possible).