value-added tax Meaning in Cambridge Business English Dictionary
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Meaning of "value-added tax" - Business English Dictionary

value-added tax

noun [C or U ] ( also value added tax)
 
 
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)
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