BNET Business Dictionary
Business Definition for: VAT
- value added tax: a tax added at each stage in the manufacture of a product. It acts as a replacement for a sales tax in almost every industrialized country outside North America. It is levied on selected goods and services, paid by organizations on items they buy, and then charged to customers.
Wiktionary Definition for: VAT
- #value-added tax.
Additional Resources
- VAT reduction has had very little impact on consumer spending so far research finds
- You are here: News / VAT reduction has had very little impact on consumer spending so far research finds Nearly nine in ten consumers say the VAT cut has had no effect. The reduction in the rate of VAT from 17.5% to 15% late last year has had little or...
- News items 2009-08-27
- VIETNAM: INDONESIAN TOURISTS COULD RECEIVE VISA EXEMPTION - VAT.(Brief Article)
- According to ?VoV?, Indonesian tourists will probably be exempted from visas when entering Vietnam in the near future, according to the Vietnam Administration of Tourism VAT. VAT deputy head Nguyen Phu Duc said the Government and VAT had met to dis According to ?VoV?, Indonesian tourists...
- Research articles 2003-08-26
- Senate Energy Committee head pushes for value-added tax; seeks VAT instead of energy tax. (Bennett Johnston)
- Senate Energy Committee Chmn Bennett Johnston is supporting a value-added tax VAT in place of Pres Bill Clinton's proposed energy tax. The energy tax would hit certain US regions harder than others, such as Johnston's home state of Louisiana, because of their energy industries. Retailers are opposing the VAT and...
- Research articles 1993-02-25
- EC hearing on unfair VAT goes on stream.
- vat exemption The AIC's three-year fight to make investment trusts exempt from VAT has finally been heard in the European Court of Justice. Unit trusts and Oeics do not incur VAT due to legislation laid down in the sixth European VAT...
- Research articles 2006-12-18
- Eldorado Gold Corporation: Turkish Projects-VAT.
- VANCOUVER, BRITISH COLUMBIA, Mar 30, 2004 CCNMatthews via COMTEX Earl W. Price, Chief Financial Officer of Eldorado Gold Corporation ("Eldorado", the "Company", or "we") provides the following information regarding Value Added Tax ("VAT") modifications in Turkey. Turkish VAT law imposes VAT...
- Research articles 2004-03-30
- Rank wins landmark VAT judgement
- Rank Group is set to receive for a 36m [pounds sterling] VAT rebate after winning a landmark legal dispute with HM Revenue & Customs HMRC, which could spark other bingo operators to lodge claims. Rank persuaded the VAT and Duties Tribunal that HMRC's practice of charging VAT on interval...
- Research articles 2008-07-01
- BRC urges Government to scrap VAT on ‘green' white goods
- 17 August, 2009 Retailers are calling on the Government to scrap VAT on energy efficient appliances and offer incentives to trade in old white goods for more environmentally friendly ones. The British Retail Consortium is recommending a version of the car scrappage scheme for white goods, including a reduction in...
- News items 2009-08-17
- ADP e-XPENSE Services Adds Automated VAT Process - Teams with Corporate VAT Management
- ROSELAND, N.J.--BUSINESS WIRE--July 21, 1997--The Employer Services Division of Automatic Data Processing, Inc. (NYSE: AUD) -- today announced that e-XPENSETM Services, their comprehensive T&E solution, will team with Corporate VAT Management (Seattle, WA) to offer integrated value-added tax VAT refund processing for all clients of e-XPENSE.
- Research articles 1997-07-21
- Sabrix Eases Payable and VAT Compliance Pain for Oracle Users
- Building on its success with previous value-added tax VAT implementations, SabrixTM, Inc., the leading provider of Consolidated Transaction Tax ManagementTM applications, today announced expanded VAT support for users of the Oracle® E-Business Suite Payables and Purchasing modules. The SabrixConnectionTM for Oracle integrates Sabrix tax and Oracle E-Business Suite applications to...
- Research articles 2005-09-21
- Mexico: Tourists could be spared VAT charge in Mexico.
- Mexico's chamber of deputies' tourism commission is studying them possibility of partially exempting tourists buying Mexican goods to take home with them to other countries from VAT charges so as to foment consumerism on visits to Mexico. VAT exem Mexico's chamber of deputies' tourism commission...
- Research articles 2000-12-27
- ESTONIA: VAT FOR BOOKS.(Brief Article)
- According to Estonian Review, Ministry of Finance is preparing a change in legislation, based on EU directives that would impose value added tax VAT for books. If ... According to Estonian Review, Ministry of Finance is preparing a change in legislation, based on EU directives that...
- Research articles 2000-03-09
- Considered an art, striptease is exempt from VAT in Norway
- OSLO AFP — Striptease is an art and should therefore be exempt from value-added tax VAT, a Norwegian court has ruled. The Diamond Go Go Bar in Oslo took the Norwegian state to court after it tried to impose VAT on entry fees to the club. But in...
- Research articles 2005-05-04
- Italian branch not subject to VAT on supplies, ECJ says.
- Byline: Claudia Daiber Apr 19, 2006 (Tax Notes International - ABIX via COMTEX) -- The European Court of Justice ECJ ruled against Italian tax authorities on 23 March 2006 in a case involving value added tax VAT. It stated that an Italian subsidiary...
- Research articles 2006-04-19
- Home office allowed VAT credit, says ECJ.
- Jun 01, 2005 (Tax Notes International - ABIX via COMTEX) The European Court of Justice ECJ handed down its ruling on a case dealing with value added tax VAT on 21 April 2005. It dealt with deductions for input VAT where there is co-ownership. In...
- Research articles 2005-06-01
- ECJ Advocate General addresses French limitation on VAT deduction.(Brief Article)
- Apr 14, 2005 (Tax Notes International - ABIX via COMTEX) France's value added tax VAT treatment of acquisitions of capital assets funded by investment subsidies has been questioned. However, the European Court of Justice's Advocate General, M Poiares Maduro, says the restriction on...
- Research articles 2005-04-14
- EU VAT treatment of insurance and financial services.
- Byline: Rita de la Feria Feb 12, 2007 (Tax Notes International - ABIX via COMTEX) -- Article 13B of the EU Sixth VAT directive directs that insurance and financial services be exempt from value added tax VAT. The rationale behind this decision appears to...
- Research articles 2007-02-12
- News: EC faces million pound VAT bill.
- Byline: William Comet Britain's pension funds should consider European Court action to reclaim hundreds of millions of pounds in VAT, according to a tax specialist. Richard Iferenta, financial services tax partner at accountant KPMG, said: "The recent opinion by the advocate...
- Research articles 2007-03-12
- Investment trusts now VAT exempt, rules ECJ.
- Byline: AIC predicts that the judgement will save the investment industry AGBP40m a year Tax The European Court of Justice has ruled in favour of the AIC and JPMorgan Claverhouse Investment Trust, deciding that the management expenses of investment trusts should...
- Research articles 2007-07-02
- Defeat for Customs in landmark telecoms European VAT case (Bond House); HMRC facing loss of millions over belated VAT claims; May also face claims for damages.
- M2 PRESSWIRE-13 January 2006-Vantis: Defeat for Customs in landmark telecoms European VAT case Bond House; HMRC facing loss of millions over belated VAT claims; May also face claims for damagesC1994-2006 M2 COMMUNICATIONS LTD RDATE:12012006 London -- The European Court of Justice...
- Research articles 2006-01-13
- Trintech Group Plc offers solution for locating and adjusting VAT spreadsheets
- CORPORATE IT UPDATE-C1995-2008 M2 COMMUNICATIONS LTD Trintech Group Plc (Nasdaq: TTPA), a company that provides financial governance, transaction risk management and compliance solutions, revealed yesterday (26 November) a solution for companies that want to locate and adjust spreadsheets to be compliant with the 2.5% VAT rate reduction announced in...
- Research articles 2008-11-27
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