value–added tax

noun

Definition of value–added tax

  1. :  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

1935

First Known Use of value–added tax

1935


VALUE–ADDED TAX Defined for English Language Learners

value–added tax

noun

Definition of value–added tax for English Language Learners

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


Law Dictionary

value–added tax

noun value–ad·ded tax

Legal Definition of value–added tax

  1. :  a tax levied at each addition of value in the processing of a raw material, the performance of a service, or the production and distribution of a commodity with each payer except the consumer reimbursed from payment at the next stage —called also VAT


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