Vat: meaning, definitions and examples
๐ธ
vat
[ vรฆt ]
tax
A tax levied on the sale of goods and services, ultimately paid by the consumer.
Synonyms
sales tax, value-added tax
Examples of usage
- The price of the product includes VAT.
- VAT is added at the checkout.
abbreviation
Value Added Tax.
Synonyms
Examples of usage
- The receipt shows the total amount including VAT.
- VAT is calculated at 20%.
Europe
A type of consumption tax that is placed on a product whenever value is added at a stage of production and at final sale.
Synonyms
Examples of usage
- In many European countries, VAT rates vary for different products.
- Businesses need to register for VAT to collect and pay it to the government.
Translations
Translations of the word "vat" in other languages:
๐ต๐น IVA
๐ฎ๐ณ เคตเฅเค
๐ฉ๐ช Mehrwertsteuer
๐ฎ๐ฉ PPN
๐บ๐ฆ ะะะ
๐ต๐ฑ VAT
๐ฏ๐ต ๆถ่ฒป็จ
๐ซ๐ท TVA
๐ช๐ธ IVA
๐น๐ท KDV
๐ฐ๐ท ๋ถ๊ฐ๊ฐ์น์ธ
๐ธ๐ฆ ุถุฑูุจุฉ ุงูููู ุฉ ุงูู ุถุงูุฉ
๐จ๐ฟ DPH
๐ธ๐ฐ DPH
๐จ๐ณ ๅขๅผ็จ
๐ธ๐ฎ DDV
๐ฎ๐ธ VSK
๐ฐ๐ฟ าาะก
๐ฌ๐ช แแฆแ
๐ฆ๐ฟ ฦDV
๐ฒ๐ฝ IVA
Word origin
The term 'VAT' stands for Value Added Tax and was first introduced in France in the 1950s. The concept of VAT has since been adopted by many countries around the world as a way to tax consumption. VAT is considered a more efficient and equitable way of taxation compared to traditional sales taxes.