vat

Definitions

General English

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.
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