| NOUN | possession | ad valorem tax, VAT, value-added tax | a tax levied on the difference between a commodity's price before taxes and its cost of production |
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| Meaning | A tax levied on the difference between a commodity's price before taxes and its cost of production. | |
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| Synonyms | VAT, value-added tax | |
| Broader | excise, excise tax | A tax that is measured by the amount of business done (not on property or income from real estate) |
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