Definition, Meaning & Synonyms
vatable
adjective
/ˈveɪtəbl/
Definition
Subject to value-added tax (VAT).
Examples
- Most food items are vatable in the context of restaurant services.
- The accountant assessed which items were vatable for the upcoming fiscal year.
- Be cautious when pricing products, as only certain services are considered vatable.
Meaning
A term used to describe goods or services that are eligible for the application of value-added tax.
Synonyms
- Taxable
- VAT-applicable
- Chargeable
