VAT

Value Added Tax.

A tax added to the price of most goods and services in the European Union.

Relevant accounting standards include Section 29 and Section 23 of FRS 102.

See also

• Default surcharge
• Exempt
• Lower rated
• Output tax
• Standard rated
• Tax point
• Time of supply
• TVA
• Unattributable input VAT
• VAT group
• VAT return
• Zero rated
• FRS 102