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Glossary of terms used on this site

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V

Term Definition
Value-Added Tax (VAT)

A fee levied on all goods and services as goods and services go through the production chain, from the raw material to final consumption. The amount taxed is the amount of value a particular step in the production chain added to the value of the goods or service. Volume Rate - A freight rate assessed with a specific volume of freight based upon the presumption it will increase over a period of time.

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