vat
Definitions
General English
- noun a large container for liquids
Banking
- noun
(written as VAT)
a tax on goods and services, added as a percentage to the invoiced sales price
Economics
- noun
(written as VAT)
a tax paid by the consumer which represents the increased value of a product at each stage of its manufacture and distribution.
Food
- A large tub used for large-scale processing of cheese, pickles, etc. and for fermenting and ageing wine
Real Estate
- noun
(written as VAT)
a tax on the increased value of a product or service added at each stage of its production or distribution, paid by the consumer. - acronym forvalue-added tax
(written as VAT)
Travel
(written as VAT)
a tax imposed as a percentage of the invoice value of goods and services
Origin & History of “vat”
Vat comes
from a prehistoric Germanic *
fatam ‘vessel, barrel’,
which also produced German
fass, Dutch
vat, Swedish
fat, and Danish
fad. It passed into Old
English as
fæt, whose
direct descendant,
fat, had largely died out by the end of the 19th century;
vat represents a southwestern
dialect form.
