vat Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “vat” in the English Dictionary

"vat" in American English

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vatnoun [C]

 us   /væt/
a ​largecontainer for ​mixing or ​storingliquids, esp. as used in ​industry: The ​grapes are ​crushed in ​deepwooden vats.
(Definition of vat from the Cambridge Academic Content Dictionary © Cambridge University Press)

"VAT" in Business English

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VATnoun [U]

uk   us   /ˌviːeɪˈtiː/ TAX
abbreviation for Value Added Tax: a ​tax that is ​paid at each ​stage in the ​production of ​goods or ​services, and by the ​finalcustomer. Businesses in the ​productionprocess take away the ​cost of inputs (= ​labour, ​materials, etc.) from the ​cost of outputs (= ​products and ​servicessold) to ​calculate the ​amount that they must ​pay: You can ​pay as little as £600 plus VAT for a powerful PC.including/excluding VAT The ​price is £19.99, ​including VAT. Those with a ​turnover of £51,000 or more have to ​register for VAT. Banking ​services are ​exempt from VAT.
(Definition of VAT from the Cambridge Business English Dictionary © Cambridge University Press)
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“vat” in British English

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