From Longman Dictionary of Contemporary Englishvalue-added taxˌvalue-added ˈtax noun [uncountable] PETvat
Examples from the Corpus
value-added tax• A Baker would have imposed order on the question of whether or not the administration is flirting with a value-added tax.• My view is there will have to be an increase in the breadth of value-added tax.• The Government is considering the extension of value-added tax to newspapers, magazines and books.• So, more literally, does the promise of value-added tax on fuel.• Surely any comparison between past and present must take into account the £4.25 billion that was added to value-added tax.• With value-added tax, and the other charges made when something is bought and sold, things are comparatively easy.From Longman Business Dictionaryvalue-added taxˌvalue-ˈadded tax abbreviation VAT [countable, uncountable]TAX a tax on some goods and services. Businesses pay value-added tax on most goods and services they buy and if they are VAT REGISTERED, charge value-added tax on the goods and services they sell. At regular periods of time, the total amount of tax paid is taken away from the total amount charged to arrive at an amount that is owed to or by the business. Final customers pay VAT on these goods in shops and on services. VAT is a way of charging tax on the increase in value of goods and services at each stage as they are produced, rather than just on their final selling price to customersThe government announced a temporary increase in value-added tax on consumer goods. → tax 