VAT
20
5.0
- noun
- /viː eɪ tiː/
- UK
:
IVA
- China traditionally refunded to producers the 17 percent value-added tax (VAT) on production inputs that were paid on exports.
- value-added tax
- VAT rate
- tax (VAT)
I think there was all that VAT fraud.
- I think there was all that VAT fraud.
- I think the most recent example which really illustrates this point is the whole VAT on private schools.
- But then if you're a business owner, you've got, OK, VAT is an added tax, but there's still VAT.
- So they, they put a lot of checks and cross checks on sort of those VAT rebates at the export stage.
- I said, Rishi, do you know, you realise if you get a central bank digital currency, you can collect VAT real time?
- What kind of pushed me to register by Nikki and formalize the company, funny enough, was the introduction of VAT in the UAE, you know?
- Not only that, going back when they've landed, I've told him not to declare the jewellery because he didn't want to pay the VAT.
- But I'm, I'm wondering, we've, we've talked about the VAT tax, does that pay for the whole thing with this increase taxes on middle or lower class people?
Examples
-
But after paying the $4,900 VAT, they get all health care free of charge.
Blog text (10) -
If I bought only things that were exempt from VAT, like food, I wouldn't pay any.
Blog text (14) -
India, which is one of the biggest markets, also has a reduced VAT tax.
-
Another reason to have a VAT is to encourage saving rather than spending.
Blog text (10) -
Keep in mind that all of the revenues from the VAT are used to fund healthcare.
Blog text (10) -
Suppliers selling to other businesses charge VAT, but they reclaim VAT on purchases.
Blog text (10) -
To prevent unpredictable, disruptive consequences, implementing a VAT would require years of study and comprehensive tax reform.
Blog text (10) -
I know the argument against that VAT can be more regressive, taxing consumption more heavily.
Blog text (14) -
But the protesters specifically want a lower value-added tax, and previous VAT reductions generally haven't paid for themselves.
Academic text (2011) -
In the UK, all consumer goods are subject to a VAT which is included in the price at checkout.
Synonyms
6
4.0
A tax added to the price of goods and services each time a business makes or sells them
1
4.2
A tax added to most goods and services and paid at each stage of production or sale
A tax added to the price of goods and services that businesses charge customers
Compounds
Surface Forms
Morphology
VAT = V + A + T
VAT is an initialism (Value Added Tax); the letters are not English morphemes, so knowing other words does not let a learner infer the meaning from the components.
Etymology
VAT is short for value added tax, a name that says it taxes the 'value' added to goods at each step of making and selling them. So VAT is a tax on the 'extra' amount companies add before a product reaches the shop.