What is another word for value-added tax?
Pronunciation: [vˈaljuːˈadɪd tˈaks] (IPA) 
Value-added tax (VAT) is a commonly used term in taxation, but there are several alternative synonyms used around the world. The tax is often referred to as goods and services tax (GST) in countries like Australia, Canada, and India. In some countries where VAT is imposed at a different rate, it is known as a sales tax, while others call it a consumption tax. In Europe, it is often referred to as a turnover tax or a VAT tax. Some countries have their unique terminology like the Philippines calling it a Gross Receipts Tax (GRT) and Thailand using the term Specific Business Tax (SBT). Regardless of the terminology used, the underlying principle remains the same - to tax the value added at each stage of production and distribution of goods and services.
