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A value added tax (VAT) is a form of consumption tax. It is a tax on the "value added" to a product or material, from an accounting view, at each stage of its manufacture or distribution.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
by ATinNM on Sat Dec 18th, 2010 at 02:02:56 PM EST
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