What is another word for value-added tax?

Pronunciation: [vˈaljuːˈadɪd tˈaks] (IPA)

Value-added tax (VAT) is a commonly used term in taxation, but there are several alternative synonyms used around the world. The tax is often referred to as goods and services tax (GST) in countries like Australia, Canada, and India. In some countries where VAT is imposed at a different rate, it is known as a sales tax, while others call it a consumption tax. In Europe, it is often referred to as a turnover tax or a VAT tax. Some countries have their unique terminology like the Philippines calling it a Gross Receipts Tax (GRT) and Thailand using the term Specific Business Tax (SBT). Regardless of the terminology used, the underlying principle remains the same - to tax the value added at each stage of production and distribution of goods and services.

What are the hypernyms for Value-added tax?

A hypernym is a word with a broad meaning that encompasses more specific words called hyponyms.

Related words: value-added tax wikipedia, value-added tax definition, value-added tax rates, what is value added tax, value-added tax system, what is value-added, european value added tax, american value added tax

Related questions:

  • What does vat stand for?
  • How does vat work?
  • What is vat charged on?
  • Word of the Day

    multitasker
    The word "multitasker" usually refers to someone who can perform different tasks simultaneously. However, there are several antonyms for this word, which describe the opposite type...