VALUE ADDED TAX Definition

Bookmark and Share

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

CASTING, in accounting, is the summing of a column of figures.

SIMULATION is the representation of the operation or features of one process or system through the use of another. Computer simulation of waiting lines can determine the number of employees needed to serve customers at a particular time.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.