value added tax
index ad valorem

Burton's Legal Thesaurus. . 2006


value added tax
(VAT)
A tax on supplies of goods and services made by a taxable person in the course or furtherance of a business. It is administered by HM Revenue & Customs (HMRC).
For further information, see the HM Revenue & Customs website .
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • value-added tax — Tax added onto a product during each step of production, from raw material to finished good. Bloomberg Financial Dictionary * * * value added tax value added tax ➔ tax1 * * * value added tax UK US (also value added tax) noun [C or U ] TAX ► VAT( …   Financial and business terms

  • value added tax — UK US noun [uncountable] vat Thesaurus: types of tax and taxationhyponym * * * ˌvalue ˈadded tax [value added tax] noun …   Useful english dictionary

  • value-added tax — (VAT) a tax levied on the supply of goods or services in the UK and on the importation of goods into the UK. The imposition of VAT was required as a condition of the UK s entry into the European Community, and the original provisions were… …   Law dictionary

  • value–added tax — value–ad·ded tax n: 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… …   Law dictionary

  • Value Added Tax — (VAT) tax that is added to the value of a product at the time of manufacture and paid by the customer at the time of purchase …   English contemporary dictionary

  • value-added tax — [val′yo͞oad′əd] n. a form of indirect sales tax paid on products and services at each stage of production or distribution, based on the value added at that stage and included in the cost to the ultimate consumer …   English World dictionary

  • value added tax — ► NOUN ▪ a tax on the amount by which the value of an article has been increased at each stage of its production or distribution …   English terms dictionary

  • value-added tax — n [U] ↑vat …   Dictionary of contemporary English

  • value added tax — value added ,tax noun uncount VAT …   Usage of the words and phrases in modern English

  • Value added tax — Taxation An aspect of fiscal policy …   Wikipedia

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