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

USEFUL LIFE is the expected period of time, in years, during which a depreciating asset will be productive.

NOMINAL RETURN is an investment return that does not take into account the effects of inflation on the investment or return.

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