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English definition of “VAT”

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VAT

noun [U] uk ( also Vat)   /ˌviː.eɪˈtiː/ /væt/ us  
value added tax (= a type of tax in European countries that is paid by the person who buys goods and services)
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(Definition of VAT noun from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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