What's the difference between tax and vat?

Tax


Definition:

  • (n.) A charge, especially a pecuniary burden which is imposed by authority.
  • (n.) A charge or burden laid upon persons or property for the support of a government.
  • (n.) Especially, the sum laid upon specific things, as upon polls, lands, houses, income, etc.; as, a land tax; a window tax; a tax on carriages, and the like.
  • (n.) A sum imposed or levied upon the members of a society to defray its expenses.
  • (n.) A task exacted from one who is under control; a contribution or service, the rendering of which is imposed upon a subject.
  • (n.) A disagreeable or burdensome duty or charge; as, a heavy tax on time or health.
  • (n.) Charge; censure.
  • (n.) A lesson to be learned; a task.
  • (n.) To subject to the payment of a tax or taxes; to impose a tax upon; to lay a burden upon; especially, to exact money from for the support of government.
  • (n.) To assess, fix, or determine judicially, the amount of; as, to tax the cost of an action in court.
  • (n.) To charge; to accuse; also, to censure; -- often followed by with, rarely by of before an indirect object; as, to tax a man with pride.

Example Sentences:

  • (1) Virtually every developed country has some form of property tax, so the idea that valuing residential property is uniquely difficult, or that it would be widely evaded, is nonsense.
  • (2) Not only do they give employers no reason to turn them into proper jobs, but mini-jobs offer workers little incentive to work more because then they would have to pay tax.
  • (3) Paradoxically, each tax holiday increases the need for the next, because companies start holding ever greater amounts of their tax offshore in the expectation that the next Republican government will announce a new one.
  • (4) But the wounding charge in 2010 has become Brown's creation of a structural hole in the budget, more serious than the cyclical hit which the recession made in tax receipts, at least 4% of GDP.
  • (5) We want to be sure that the country that’s providing all the infrastructure and support to the business is the one that reaps the reward by being able to collect the tax,” he said.
  • (6) Meanwhile, reductions in tax allowances on dividends for company shareholders from £5,000 down to £2,000 represent another dent to the incomes of many business owners.
  • (7) Brown's model, which goes far further than those from any other senior Labour figure, and the modest new income tax powers for Holyrood devised when he was prime minister, edge the party much closer to the quasi-federal plans championed by the Liberal Democrats.
  • (8) Writing in the Observer , Schmidt said his company's accounts were complicated but complied with international taxation treaties that allowed it to pay most of its tax in the United States.
  • (9) "There is a serious risk that a deal will be agreed between rich countries and tax havens that would leave poor countries out in the cold.
  • (10) Photograph: Guardian The research also compiled data covered by a wider definition of tax haven, including onshore jurisdictions such as the US state of Delaware – accused by the Cayman islands of playing "faster and looser" even than offshore jurisdictions – and the Republic of Ireland, which has come under sustained pressure from other EU states to reform its own low-tax, light-tough, regulatory environment.
  • (11) Cameron also used the speech to lambast one of the central announcements in the budget - raising the top rate of tax for people earning more than £150,000 to 50p from next year.
  • (12) It ignores the reduction in the wider, non-NHS cost of adult mental illness such as benefit payments and forgone tax, calculated by the LSE report as £28bn a year.
  • (13) The issue has been raised by an accountant investigating the tax affairs of the duchy – an agricultural, commercial and residential landowner.
  • (14) Proposals to increase the tax on high-earning "non-domiciled" residents in Britain were watered down today, after intense lobbying from the business community.
  • (15) We know that several hundred thousand investors are likely to want to access their pension pots in the first weeks and months after the start of the new tax year.
  • (16) Profit for the second quarter was £27.8m before tax but the club’s astronomical debt under the Glazers’ ownership stands at £322.1m, a 6.2% decrease on the 2014 level of £343.4m.
  • (17) "The Republic genuinely wishes Northern Ireland well and that includes the 12.5% corporate tax rate," he said.
  • (18) Initial analysis suggests that about one-fifth of gross costs would be directly returned to the public purse via income tax and national insurance payments.
  • (19) Gordon Brown believes that the fact of the G20 summit has persuaded many tax havens, such as Switzerland and Liechtenstein, to indicate that they will adopt a more open approach.
  • (20) This includes cutting corporation tax to 20%, the lowest in the G20, and improving our visa arrangements with a new mobile visa service up and running in Beijing and Shanghai and a new 24-hour visa service on offer from next summer.

Vat


Definition:

  • (n.) A large vessel, cistern, or tub, especially one used for holding in an immature state, chemical preparations for dyeing, or for tanning, or for tanning leather, or the like.
  • (n.) A measure for liquids, and also a dry measure; especially, a liquid measure in Belgium and Holland, corresponding to the hectoliter of the metric system, which contains 22.01 imperial gallons, or 26.4 standard gallons in the United States.
  • (n.) A wooden tub for washing ores and mineral substances in.
  • (n.) A square, hollow place on the back of a calcining furnace, where tin ore is laid to dry.
  • (n.) A vessel for holding holy water.
  • (v. t.) To put or transfer into a vat.

Example Sentences:

  • (1) VAT increases don't just hit the poor more than the rich, they also hit small firms, threaten retail jobs and, by boosting inflation, could also lead to higher interest rates."
  • (2) In Wednesday’s budget speech , George Osborne acknowledged there had been a big rise in overseas suppliers storing goods in Britain and selling them online without paying VAT.
  • (3) The IFS gave this argument an airing today, and produced figures to show that – on such a basis – the VAT rise was a fair tax after all.
  • (4) "If there is some kind of contrived scheme or vehicle, ie it's obvious that the purpose of the scheme is to avoid paying VAT and it's taking advantage of a loophole and we consider that tax is actually owed on the scheme, rather than just being a case of sensible tax planning … we can make the judgment that this is not legitimate tax planning.
  • (5) These vat mutant strains accumulate and secrete precursor forms of the soluble vacuolar hydrolases carboxypeptidase Y and proteinase A.
  • (6) Told him we'll waive VAT on #BandAid30 so every penny goes to fight Ebola November 15, 2014 Thousands of onlookers turned out to watch the arrival of artists including One Direction, Paloma Faith, Disclosure, Jessie Ware, Ellie Goulding and Clean Bandit at Sarm studios in Notting Hill, west London .
  • (7) The chancellor said the 2.5% cut in VAT to 15% would last for 13 months and form the centrepiece of a recovery programme which will pump £9.2bn into the economy in 2008 and a further £16.3bn in 2009-10.
  • (8) Seasonal and habitat influences on the egg-laying activity of four species of Culex were compared in south Florida using jar- and vat-type oviposition traps.
  • (9) Jim Devine, Labour MP for Livingston, was reportedly under investigation for invoices he submitted for electrical work worth more than £2,000 from a company with an allegedly fake address and an invalid VAT number.
  • (10) The Guardian recently revealed that the Danish government had been forced, on the eve of the Copenhagen summit , to rush through an emergency law making it impossible for criminal gangs to reclaim huge amounts of VAT on fraudulent trades they were making on Europe's various carbon exchanges.
  • (11) In the interview, he also pledged to scrap the 5% rate of VAT on sanitary products, known as the “tampon tax”.
  • (12) Darling's pledge to cap VAT at 17.5% and lower bingo taxes were overshadowed by a surprise national insurance hike and a squeeze on public sector workers.
  • (13) But the squeeze on living standards also cited has been exacerbated by the chancellor's January VAT rise, and the Bank clearly sets little store by his much-vaunted "plan for growth".
  • (14) Near the entrance was a sprawling camp kitchen, with mountains of supplies, indoor and outdoor facilities and open fires on which some of the cooking was done, and all of the gigantic vats of coffee seemed to be boiled.
  • (15) Such a plan could include temporary cuts to VAT and national insurance, the IMF said.
  • (16) The variable antigen type (VAT) composition of first relapse populations developing in mice infected with 11 VAT populations of a stock of T. evansi was shown to be independent of the infecting VAT.
  • (17) Osborne and Alistair Darling would be daft to rule out a 20% VAT band; don't expect them to admit as much this side of polling day.
  • (18) Vince Cable, the business secretary, claimed raising VAT was not necessarily regressive, saying the tax was fairly "progressive" due to the exemptions on food, children's clothing and other key essentials in the expenditure of poorer people.
  • (19) Similarly, the raising of the VAT rate is regressive in impact, so that cumulatively these and other measures have actually deliberately made the poor poorer.
  • (20) The reforms included changes to the Greek pension system and VAT regime.

Words possibly related to "tax"

Words possibly related to "vat"