Meaning of “vat” in the English Dictionary

business-english dictionary

"vat" in American English

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vatnoun [ C ]

us /væt/

a large container for mixing or storing liquids, esp. as used in industry:

The grapes are crushed in deep wooden vats.

(Definition of “vat” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"VAT" in Business English

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VATnoun [ U ]

uk /ˌviːeɪˈtiː/ us TAX

abbreviation for Value Added Tax: a tax that is paid at each stage in the production of goods or services, and by the final customer. Businesses in the production process take away the cost of inputs (= labour, materials, etc.) from the cost of outputs (= products and services sold) 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)