Vat
/ˈvæt/
Definitions
- (n.) A large container used for holding liquids, especially in manufacturing or storage of goods such as wine or chemicals.
The company stored the chemicals safely in a sealed vat.
- (n.) Value Added Tax, a consumption tax levied on goods and services in many jurisdictions.
The invoice included an additional 20% VAT charge.
Forms
- vats
Related terms
See also
Commentary
In legal contexts, 'VAT' most often refers to Value Added Tax; context is key to distinguish it from the physical container meaning.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.