VALUE ADDED TAX Definition

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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.

Learn new Accounting Terms

ACCOUNTS RECEIVABLE LEDGER is the bookkeeping ledger in which all accounts for which cash assets owed to an organization is maintained.

MERCHANDISE is commodities offered for sale or to engage in the trade of commodities that are for sale.

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