Operations, maintenance and contracts
VAT
Abbreviation for Value added tax
In short and in plain language
VAT is a tax on goods and services.
It is shown on bills and in price details.
Prices for business customers are often given without it. The tax is then added on top.
How it applies in a single case is a matter for tax advice.
Definition
VAT is a tax on goods and services that is shown on invoices and in price information. Prices for business customers are often quoted net, with VAT added on top. How it applies in an individual case is a matter for tax advice.