There are currently 7 names in this directory beginning with the letter V.
Tax law principles regarding valuation of business and non-business assets, and inventory.
Value Added Tax (VAT)
Specific types of turnover tax levied at each stage in the production and distribution process. Although VAT depends on individual consumption of goods or services, liability for VAT is on the supplier of goods or services. VAT normally utilizes a system of tax credits to place the ultimate and real burden of the tax on the final consumer and to relieve the intermediaries of any final tax cost.
Generally, a car, van, pickup truck, panel truck, or sport utility vehicle weighing 6,000 pounds or less that is considered a passenger automobile.
Doctrine which holds that differently situated taxpayers should be treated differently, i.e. taxpayers with more income and/or capital should pay more tax.
There are three multilateral "Vienna Conventions" which are relevant for taxation purposes. Among them, the Convention of 23 May 1969 on the Law of Treaties is particularly related to the interpretation of tax and other treaties. This convention contains accepted rules applying to tax treaties, the conclusion of treaties, their observance, application and interpretation, etc. There are also Vienna Conventions on Diplomatic and Consular Relations, which address taxation and other issues in that context.
Voluntary Interest Payments
Payments made on a qualified student loan during a period when interest payments are not required, such as when the borrower has been granted a deferment.