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

CORE COMPETENCY is a specific factor that a business believes as being central to the way it, or its employees work. A core competency normally fulfils three key criteria:

  • It provides customer benefits
  • It is not easy for competitors to imitate or duplicate
  • It can be leveraged widely to many products and markets.

ALLOWANCE FOR SAMPLING RISK is the difference between a sample estimate and the projected population characteristic at a specified sampling risk. This allowance
is also the difference between the expected error rate and the tolerable
deviation rate.

Suggest a Term

Enter Search Term

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