The meaning of the word or thing VAT??

Question

Honestly, what does VAT stand for?
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Answer 1

Value-added tax (VAT) is a type of sales tax. In some countries, including UK, Australia, Canada, New Zealand, and Singapore, this tax is known as "goods and services tax" or GST; in Japan it is known as "consumption tax". VAT is an indirect tax, in that the tax is collected from someone other than the person who actually bears the cost of the tax (namely the seller rather than the consumer).

As VAT is intended as a tax on consumption, exports (which are, by definition, consumed abroad) are usually not subject to VAT or VAT is refunded.

Answer 2

Value Added Tax

Answer 3

Value Added Tax

Answer 4

VAT stands for Value Added Tax.

Answer 5

Value Added Tax

Answer 6

Value Added Tax.

Answer 7

Value Added Tax - VAT. VAT's are used in lieu of, or in addition to other forms of taxation to create revenue for the country in which they are charged. Most economists consider VAT to be a regressive tax, since the same level of taxation is charged to all consumers, no matter what the income of the consumer. This in comparison to a 'progressive' taxation scheme, like U. S. income tax system, which is based on income, with a sliding, increasing tax rate tied to the consumers income. 'Flat' income tax rates are also regressive, since all taxpayers, no matter what the income level, pay the exact same percentage of tax. 17% tax to a person making $20,000 per year is far more arduous than 17% to a person making $200,000 per year.

Answer 8

Value Added Tax. It's the amount of tax payable by the value of the product.

(i.e. You could get a tax which is 15p per pint of beer. Or you could get a VAT of 7.5% on beer, which means that for every 10p a pint of beer costs, the government takes .75p)

VAT in the UK is 17.5%

Answer 9

Value Added Tax. VAT is a tax on the final consumption of certain goods and services.

Answer 10

Value added tax