2006-11-22 20:42:02 · 4 answers · asked by ? 3 in Business & Finance ➔ Other - Business & Finance
Value Added Tax - a government turnover tax levied on the increase in value for each stage in the manufacture and sale a commodity. ie. raw materials, manufacture, wholesale and retail. Each stage's increase in value is taxed...therefore the term ''value added tax'.
2006-11-22 20:52:54 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Value Added Tax
also called "The VAT Tax"
I should add that if you see this and you are in Canada it is because the US companies that do business in Canada and the UK use enterprise wide software that calls the tax the same thing, VAT. They use the term VAT to refer to GST or "Goods and Services Tax" in Canada
2006-11-23 04:50:20 · answer #2 · answered by vicfta 2 · 0⤊ 0⤋
value added tax! Its what we pay here in the uk - its charged at 17.5% on the value of your item
But not everything is vat liable - some things are zero rated!
2006-11-23 04:47:45 · answer #3 · answered by Anonymous · 0⤊ 0⤋
it's TAX xx% added on you bill for goods you buy,it may varies according to goods source or country tax
2006-11-23 05:09:32 · answer #4 · answered by lostship 4 · 0⤊ 0⤋