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What does VAT mean?

April 26, 2017context examples definition dictionary english learning mean sense synonyms VAT

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What does VAT mean?

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• VAT (noun) The noun VAT has 2 senses: 1. a tax levied on the difference between a commodity’s price before taxes and its cost of production 2. a large open vessel for holding or storing liquids Familiarity information: VAT used as a noun is rare.

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VAT stands for Value Added Tax which is an indirect sales tax. If you live in the European Union (but outside of Germany) and are exempt from VAT, then you can fill in your VAT-ID (VAT No.) into the appropriate field of the order form. Before finalizing the order process the German VAT will be deducted from the sales price to avoid double taxation. Please make sure that you are actually exempted from VAT for purchases in the EU before you fill in your tax ID. Otherwise please leave the optional field for the VAT-ID free.