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Business Dictionary :
VAT, VDU and VDT





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VAT : noun : VALUE ADDED TAX

• The invoice includes VAT at 15%.

• The government is proposing to increase VAT to 17.5%.

• Some items (such as books) are zero-rated for VAT.

• He does not charge VAT because he asks for payment in cash.



VAT Declaration = statement declaring VAT income to the VAT office


VAT Invoicing = sending of an invoice including VAT


VAT Invoice = Invoice which shows VAT separately


VAT Inspector = government official who examines VAT returns and checks that VAT is being paid


VAT Office : government office dealing with the collection of VAT in an area

NOTE : no plural


VAT Man or vatman : noun : VAT inspector


VDU or VDT : VISUAL DISPLAY UNIT or VISUAL DISPLAY TERMINAL







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