VAT, vat, n.2
(viːeɪˈtiː, væt)
Abbrev. of value added tax s.v. value n. 2 d. Cf. TVA s.v. T 6 a.
| 1966 Economist 29 Oct. 432/2 This may be true of the conventional VAT. 1971 Guardian 29 Sept. 5/3 The substitution of VAT (value added tax) for purchase tax and SET in June 1973. 1978 Hi-Fi News Sept. 204 (Advt.), All prices include vat at 12½%. |
Hence ˈVATable, ˈvat- a. colloq., liable to VAT; ˈVATman colloq., a Customs and Excise officer who deals with VAT.
| 1973 Times 31 Oct. 14/8 A glance at how Alice is faring will show how plays themselves are affected. At present she and her like are VAT-able and non VAT-able according to circumstances. 1976 Daily Tel. 4 Nov. 21 The last [sc. higher indirect taxes] would put up the cost of living but, to a large extent, the extra cost of vatable items..is voluntary. 1977 T. Heald Just Desserts ii. 30 Those absolute fiends from the Inland Revenue or..the dreaded VATmen. 1979 Accountancy Age 16 Feb. 7/1 (heading) Convincing fanciful VATmen you don't have the goods. 1984 Listener 11 Oct. 42/1 The income-tax inspector knows as little about it as the VAT-man. |