What Does VAT Stand For?

VAT stands for Value Added Tax Vatican City State ISO 3166 Trigram

VAT stands for "Value Added Tax" as it pertains to the Vatican City State, identified by the ISO 3166 trigram. This tax is a form of indirect taxation levied on goods and services at each stage of production or distribution, reflecting the value added at each stage. The implementation of VAT in the Vatican is aligned with broader European tax principles, promoting fiscal responsibility while supporting the unique economic structure of this sovereign entity.