A tax on the amount by which the value of an article has been increased at each stage of its production or distribution.
More example sentences
- The French and German governments have prepared a paper for the convention on the future of Europe which proposes to harmonise corporation tax and value added tax to improve the single market.
- An alternative would be to allocate a proportion of value added tax directly to local authorities.
- Taxes for big business and the rich are to be lowered even further, while the broad population will be subjected to a 2 percent increase in value added tax.
Definition of value added tax in:
- The US English dictionary