value-added tax

(redirected from Consumption tax)
Also found in: Dictionary, Thesaurus, Financial, Wikipedia.

value-added tax

(VAT), levy imposed on business at all levels of the manufacture and production of a good or service and based on the increase in price, or value, provided by each level. Because the consumer ultimately pays a higher price for the taxed commodity, a VAT is essentially a hidden sales tax. Originally introduced in France (1954), it is now a major part of the tax structure of most Western European nations. In the early 1990s the U.S. government considered instituting a VAT to fund national health care programs.
References in periodicals archive ?
An ideal income tax, like an ideal consumption tax, will impose the
As Japan's foremost provider of marketing research intelligence, INTAGE will continue to track the influence of the consumption tax hike, in anticipation of the country's next consumption tax increase from 8% to 10%, scheduled for April 2017.
The consumption tax rise was touted last year by then Prime Minister Yoshihiko Noda, whose Democratic Party lost in a national election in December.
He added: "Everyone knew for a year before the announcement point of consumption tax was coming.
In some way (increasing) the consumption tax is the most appealing measure to take," Singh said.
Whispers within the corridors of the Capitol indicate that many congressional representatives candidly believe a value-added-tax (VAT) or consumption tax is an inevitable solution.
A consumption tax will accomplish meaningful tax reform while simultaneously stimulating economic growth," said Fattah.
Kan's comments on a possible hike in the consumption tax were taken as a sign of his determination to tighten fiscal discipline, which reassured investors about buying government bonds, they added.
Many countries have adopted a different kind of consumption tax - the Value-Added Tax (VAT) - in addition to their income and other taxes.
67 billion) of consumption tax for gasoline and diesel in the first quarter of this year, while PetroChina paid 22.
The taxes are a complex mix of customs duties, special consumption tax (SCT), general consumption tax (GCT), environmental levy (ENVL), customs user fee (CUF) and other charges.
51mln amid lower import demand, whilst total consumption tax receipts decreased by a further 12.