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.

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COPYRIGHT is a form of legal protection used to safeguard original literary works, performing arts, sound recordings, visual arts, original software code and renewals.

BACKLOG is value of unfilled orders placed with a manufacturing company. Whether a firms backlog is rising or falling is a clue to its future sales and earnings.

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