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vat

Word family
Related topics: Industry
vat /væt/ noun [countableC]  
TIa very large container for storing liquids in 〔储存液体用的〕大缸,大桶,罐
Examples from the Corpus
Related topics: Tax
VAT /ˌviː eɪ ˈtiː, væt/ noun [uncountableU]  
PET (value-added tax) a tax added to the price of goods and services in Britain and the EU 增值税〔英国和欧盟附加在商品价格和服务费上的税〕
Examples from the Corpus
From Longman Business Dictionary
VATVAT /ˌviː eɪ ˈtiː, væt/ noun [uncountableU]TAX
Value-Added Tax; a tax on some goods and services. Businesses pay VAT on most goods and services they buy and if they are over a certain size, charge VAT 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
Our quotes exclude VAT, currently 17.5%.
Some goods and services are zero-rated, which means that no VAT is charged on them.
see also ex VAT
Origin vat
Old English fæt
vat nounVAT noun
Chinese
Corpus

See also: value added tax


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