virðisaukaskattur

Icelandic

Etymology

From virðisauka (“of value added, of added value”), the genitive of virðisauki (“value added, added value”) + skattur (“a tax”). Literally "value-added tax" or "tax of added value".

Noun

virðisaukaskattur m (genitive singular virðisaukaskatts, no plural) (abbreviation: VASK or VSK)

1. (taxation) VAT, value-added tax

Related terms

• innskattur
• skil
• söluskattur
• óbeinn skattur
• útskattur