value-added tax

noun

1. an excise tax based on the value added to a product at each stage of production or distribution: value added is arrived at by subtracting from the total value of the product at the end of each production or distibution stage the value of the goods bought at its inception. : VAT

value-added tax

noun

1. (in Britain) the full name for VAT

value-added tax

1. A tax on the value added to a product at each stage of its production, from raw materials to finished product. Widely employed in Europe , value-added taxes have the advantage (for governments) of raising revenue “invisibly,” that is, without appearing as taxes on the bill paid by the consumer .

Word History and Origins

Origin of value-added tax¹

First recorded in 1930–35

Example Sentences

The paper's authors, who include Mike Lind, suggest a possible value-added tax as a way to raise the revenue.

From The Daily Beast

Value Added Tax:  Huge revenue-raiser, which is why Republicans hate it.

From The Daily Beast

I may be wrong on this next point, but I'm fairly certain that all 10 have a value-added tax too.

From The Daily Beast

Daniels had the temerity to merely mention apparently taboo words: value-added tax and gasoline tax.

From The Daily Beast

In Europe, you pay for it through a heavy consumption tax called the VAT, or value-added tax.

From The Daily Beast