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Definition | : | Value Added Tax |
Category | : | Governmental » Rules & Regulations |
Country/ Region |
: | Worldwide
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Popularity | : |
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Type | : |
Acronym
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Value Added Tax (VAT) is a tax placed on goods at the time of sales. A VAT is a type of tax assessed based on the increase in the value-added to a product at each stage of production to the point of sale.
The full form of VAT is Value Added Tax