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Glossary of European Union (EU) Terms

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European Union Terms - V

  • Value-Added Tax (VAT) - (a form of consumption tax used in European states levied on the value added to a product at each stage of its manufacturing cycle, as well as at the time of purchase by the ultimate consumer)

  • Vienna Convention on the Law of Treaties (VCLT) - (public international law dealing with norms related to international treaties)