value-added tax

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value-added tax

value-added tax (VAT), levy imposed on business at all levels of the manufacture and production of a good or service and based on the increase in price, or value, provided by each level. Because the consumer ultimately pays a higher price for the taxed commodity, a VAT is essentially a hidden sales tax. Originally introduced in France (1954), it is now a major part of the tax structure of most Western European nations. In the early 1990s the U.S. government considered instituting a VAT to fund national health care programs.

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value-added tax

World Encyclopedia | 2005 | Â© World Encyclopedia 2005, originally published by Oxford University Press 2005. (Hide copyright information) Copyright

value-added tax (VAT) Indirect tax imposed in most European countries. Introduced in Britain in 1971, it consists of a series of taxes (calculated as a percentage) levied on goods (or services) in the various stages of their manufacture until the point of sale. See also taxation

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value-added tax

The Oxford Pocket Dictionary of Current English | 2009 | © The Oxford Pocket Dictionary of Current English 2009, originally published by Oxford University Press 2009. (Hide copyright information) Copyright

val·ue-add·ed tax (abbr.: VAT) • n. 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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	Executive summary of 'Value-Added Taxes: A Comparative Analysis.' Magazine article from: Tax Executive; 1/1/1993
	New Regulations for Import Value-Added Tax. Magazine article from: China Chemical Reporter; 7/16/1999
	Import Value-Added Tax for Agricultural Means Including Pesticide Raw Materials and Intermediates. Magazine article from: China Chemical Reporter; 12/6/1998

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	Executive summary of 'Value-Added Taxes: A Comparative Analysis.' Magazine article from: Tax Executive; 1/1/1993; ; 700+ words ; ...capital equipment). This form of value-added tax is often referred to as a business...tax. The most common form of value-added tax is the credit-method VAT. Under...purchases. These two forms of value-added tax are illustrated in the accompanying... Read more
	New Regulations for Import Value-Added Tax. Magazine article from: China Chemical Reporter; 7/16/1999; 282 words ; ...provisions have been formulated for import value-added tax exemption on the import of 3 types of chemical...state plan will be exempt from the import value-added tax. The 11 varieties having import value-added tax exemption include potassium nitrate used... Read more
	Import Value-Added Tax for Agricultural Means Including Pesticide Raw Materials and Intermediates. Magazine article from: China Chemical Reporter; 12/6/1998; 427 words ; ...concerning the Policy of Import Value-Added Tax for Agricultural Means Including...Intermediates in 1998 . (1) The import value-added tax for pesticide raw materials and...reimbursed later. The import value-added tax for pesticide raw materials and... Read more
	Tax Reduction in Nitrogenous Fertilizer Producers.(value-added tax on urea products)(Brief Article) Magazine article from: China Chemical Reporter; 7/16/2001; 96 words ; ...levying and then refunding the value-added tax on urea products in large and...nitrogenous fertilizer producers. The value-added tax on urea products in large and...will be refunded in 2001. The value-added tax on urea products in large and... Read more
	A value-added tax and state and local governments: lessons from Canada. Magazine article from: Government Finance Review; 10/1/1993; ; 700+ words ; ...and the possibility of using a value-added tax (VAT), one form of consumption...did not think the adoption of a value-added tax was imminent, they did agree...value-added taxation and the Canadian value-added tax, with special emphasis on Canadian... Read more
	Value added tax.(DOMINICA) Newspaper article from: Caribbean Update; 10/1/2005; 87 words ; VALUE ADDED TAX. Dominica's parliament enacted its first-ever Value Added Tax (VAT) system amid muted response from...system, which will replace the consumption tax (20% at its maximum) and the sales tax... Read more
	Politics v. economics I. (Milton Friedman on value-added tax ) Magazine article from: National Review; 6/19/1987; ; 700+ words ; ...but stern ( your advocacy of a value-added tax is a disaster') letter from Professor...advocated, along with many others,a value-added tax, a device widely used in Europe...a great deal to be said for a value-added tax, but from the political point... Read more
	Tax collection improves.(collection of value added tax increases almost 80%)(Brief Article) Magazine article from: America's Insider; 5/3/2001; 54 words ; ...this week that collection of the value added tax (VAT) increased 78.7% in the first...same period last year, and overall tax collection was up 570/0 for the same...VAT collected reached $300 million. Tax evasion still stands at about 30... Read more
	VAT again. (Bill Clinton's plan to introduce value-added tax to help finance health care reform) (Editorial) Magazine article from: National Review; 5/10/1993; 507 words ; NOW THAT the value-added tax is a serious option for financing health...of every sale rather than just the value added, with a VAT. More recently, Canada introduced a Goods and Services Tax to replace a tax imposed on manufacturers... Read more
	Customs modernization.(BARBADOS)(Modernization of Customs, Excise and Value Added Tax Areas Program)(Brief article) Newspaper article from: Caribbean Update; 7/1/2006; 100 words ; ...Development Bank for Modernization of Customs, Excise and Value Added Tax Areas Program (Loan No. BA-LI003). Funds will be used...Coordinator. Modernization of Customs, Excise and Value Added Tax Programme. Customs and Excise Department. Port Authority... Read more