Value Added Tax (VAT) is a general consumption tax assessed on the value added to goods and services.
the crass went Bankrupted because they forgot to charge VAT
by anarchy and freedom July 05, 2005
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Originated in Australia, it is a term used for a boy that prefers to smoke and drink with his own crew than go clubbing for women - Generally given to a boy of a clique.
"Is that guy you been wanting to suss coming tonight?"
"Apparently not, he's a vat."
by 12345656 November 02, 2014
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