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See also: value-added tax


See also: value-added tax


value-added tax

Word family
Related topics: Tax
ˌvalue-added ˈtax noun [uncountableU]  
PETvat 增值税
Examples from the Corpus
From Longman Business Dictionary
value-added taxˌvalue-ˈadded tax abbreviation VAT [countableC, uncountableU]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 customers
The government announced a temporary increase in value-added tax on consumer goods.
tax
ˌvalue-added ˈtax noun
Chinese
Syllable
Corpus

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