value added tax
Sales tax alternative
Value added tax, usually abbreviated VAT, is a consumption tax levied at each stage of production and distribution, based on the increase in value at that stage.
Unlike a sales tax collected only at final purchase, VAT is collected incrementally throughout the supply chain, with businesses receiving credit for tax already paid on inputs.
VAT is standard in most countries outside the United States.
The price includes VAT.
- VATIncremental consumption tax
- tax returnIncome declaration to government
- indirect taxLevy passed to consumers
- taxesMandatory government payments
- GSTBritish baseline hour
taxation · consumption tax · tax invoice · reverse charge · impost · tax audit · tax threshold · revenue · tax declaration · goods · tax liability · tax compliance · services · end consumer · business expenses · tax exemptions · fiscal policy · price tag
- taxationtax, income tax, sales tax, tax return, tax refund
- sales taxessales tax, retail tax, consumption tax, VAT, GST
- UK taxesVAT, income tax, council tax, inheritance tax, corporation tax
- Latin American taxesVAT, corporate tax, income tax, sales tax, excise tax
- VATVAT, VAT number, TVA, GST, zero-rated
- taxessales tax, income tax, estate tax, excise tax, corporate tax
value added taxincome tax
Government charge on earnings
personal income tax · direct tax · capital gains tax · wealth tax · property tax
value added taxprogressive tax
Levy increasing with income
luxury tax · wealth redistribution · tax exemption · tax-free · untaxed
value, added, values, valued, valuing, valuable, valuate, valuation, valueless