Value-added tax is typically a percentage of the sale price. For example, if you purchase a pair of shoes for $100, and the VAT rate is 20%, you would pay $20 in tax at the register when you pay for the shoes. Value-added tax rates vary by country, and some countries exclude certain goods or services from the tax altogether.
What is Value-Added Tax (VAT)?
Value-added tax (VAT) is a tax on products or services. Consumers pay the VAT, which is typically a percentage of the sale price. The U.S. does not have a VAT.
What is Value Added Tax?
Spelling Bee Quiz Can you outdo past winners of the National Spelli... The meaning of VALUE-ADDED TAX is an incremental excise that is levied on the value added at each stage of the processing of a raw material or the production and distribution of a commodity and that typically has the impact of a sales tax on the ultimate consumer.
