Business, tax and funding
VAT
Abbreviation for value added tax
In short and in plain language
VAT is a tax on goods and services.
Businesses usually add it to their prices and pay it to the tax office.
Prices for business customers are often given without this tax. It is then added on the invoice.
Definition
VAT is a tax on goods and services that businesses usually add to their prices and pay to the tax office. Prices for business customers are often stated net, with VAT added on the invoice.