virðisaukaskattur

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Icelandic[edit]

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Etymology[edit]

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[edit]

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

  1. (taxation) VAT, value-added tax

Related terms[edit]