value-added tax

US /ˈvæl.juːˌæd.ɪd tæks/
UK /ˈvæl.juːˌæd.ɪd tæks/
"value-added tax" picture
1.

a tax on the amount by which the value of an article has been increased at each stage of its production or distribution.

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The price includes a 20% value-added tax.
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Many countries impose a value-added tax on goods and services.
:
VATGST
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