Meaning of “value-added tax” in the English Dictionary


"value-added tax" in Business English

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value-added taxnoun [ C or U ]

also value added tax uk us TAX

→  VAT :

There is no value-added tax on food and medicine.
Imported chips are subject to a value-added tax of 17%.

(Definition of “value-added tax” from the Cambridge Business English Dictionary © Cambridge University Press)