Business English word of the day: V.A.T.

January 15, 2010 | Posted by profanglais

VAT : TVA VAT stands for ‘value added tax’. It is the tax that consumers pay when they buy a product or a service. VAT rates can vary according the product or service being sold. In France, a recent law was passed allowing bars and restaurants to reduce their VAT to 5% instead of the [...]