VAT

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VAT

in Britain
value-added tax: a tax levied on the difference between the cost of materials and the selling price of a commodity or service

VAT

Abbr. forVinyl-asbestos tile.

wat, vat

Buddhist monastery in Cambodia.

VAT

The target threshold speed. The scheduled speed at the threshold for landing in relatively favorable conditions. It is usually the speed at a screen height of 30 ft (10 m) after a steady stable approach at a glide-slope of not less than 3°.
References in periodicals archive ?
In Europe, the VAT discriminates among product categories.
Lastly, the greatest danger of moving to a consumption tax of any kind - whether a national sales tax or a VAT - is that it risks saddling the American taxpayers with what our European brethren have sadly suffered: both an income tax and a national sales tax/VAT.
The Gibbons VAT proposal is based on the "destination principle.
One of the major criticisms of a VAT is that it is regressive.
Ideally, a VAT should be applied at a uniform rate to as broad a base as possible.
Moreover, data for twenty-three OECD countries[4] indicate that neither consumption taxes in general, nor a VAT or retail sales tax in particular, have any impact on the rate of saving.
Charts 1 and 2 compare, for the year 1986, the rate of national saving (as a percent of GDP) for each of twenty-three OECD countries with each country's relative use of consumption taxes[5] (Chart 1) and VAT and retail sales[6] taxes (Chart 2), measured as a percent of total taxes in each country.
To see if a VAT might affect private saving differently from national saving, we also compared the relative use of consumption taxes, and VAT and retail sales taxes, with the rate of private saving.
Assume, for example, that the gross profit tax base found in the VAT were extracted and substituted for the present U.
Assume further that such a gross profit tax is, like a VAT, an indirect tax that may, under the GATT, be imposed on imports and rebated on exports.
He explained that the Administration "considers" the VAT to be a tax and, hence, that the proposal was subject to the President's "no new taxes" pledge.
In addition, the report was to aid policymakers in calculating the compliance and administrative costs connected with the VAT.