ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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VALUE ADDED TAX Definition
VALUE ADDED TAX is a consumption tax where taxes are levied at each step of a manufacturing process where value is added to that product at that point in the manufacturing cycle; as well as at the point where the consumer purchases the end product.
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QUOTATION, dependent upon usage, is a. a statement of the current market price of a security or commodity; or, b. an offer to sell goods at a stated price and under specified conditions.
GROUP is a number of individual companies assembled together; often having some unifying relationship.
