Value-Added Tax, National: From The Encyclopedia of Taxation and Tax Policy

Value-Added Tax, National: From The Encyclopedia of Taxation and Tax Policy www.taxpolicycenter.org/publications/url.cfm?ID=1000543 The value-added tax (VAT) is a broad-based tax on business designed to measure net dollar value generated in a country. The usual VAT is a general sales tax on all goods and services. It is levied at each stage of production and accumulates so that it is ...