VAT
Type: noun, acronym
Pronunciation: /vaht/ or /v-a-t/ or /vee-ay-tee/
Also spelled or known as: Value Added Tax
Related: Music Business, VAT Charges
What does VAT mean? Value Added Tax; A consumption tax added to goods or services in many countries.
In music, VAT may apply to tickets, merchandise, downloads, subscriptions, licenses, and physical products.
VAT synonyms: Value Added Tax, Sales Tax, Consumption Tax
Example sentence: “The invoice included VAT on the licensing fee.”
PRE-ORDER RECORDING BUSINESS DICTIONARY