value added tax

See also: value-added tax

English

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Noun

value added tax (plural value added taxes)

  1. (taxation) A tax levied on the added value that results from the exchange of goods and services.
    Alternative form: VAT (initialism)
    Synonyms: goods and services tax, GST (Australia, Canada, India, New Zealand, Singapore)
    Hypernym: tax
    Coordinate terms: sales tax; excise tax, duty; income tax

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