Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
value-added tax
A tax assessed at each step in the production of a commodity, based on the value added at each step by the difference between the commodity's production cost and its selling price. ( A value-added tax - which is popular in several European countries - effectively acts as a sales tax on the ultimate consumer. - Abbr. VAT.