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VAT
VAT
[
v ay t,
vat
]
or
V.A.T
[
v ay t,
vat
]
noun
Definition:
tax on value of product:
a tax on the increased value of a product or service added at each stage of its production or distribution, paid by the consumer.
Full form
value-added tax
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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