IVA meaning in International ?

Answer:

What is Impuesto al Valor Agregado mean?

A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of tax that is assessed incrementally. It is levied on the price of a product or service at each stage of production, distribution, or sale to the end consumer. If the ultimate consumer is a business that collects and pays to the government VAT on its products or services, it can reclaim the tax paid. It is similar to, and is often compared with, a sales tax.

VAT essentially compensates for the shared service and infrastructure provided in a certain locality by a state and funded by its taxpayers that were used in the provision of that product or service. Not all localities require VAT to be charged, and exports are often exempt. VAT is usually implemented as a destination-based tax, where the tax rate is based on the location of the consumer and applied to the sales price. The terms VAT, GST, and the more general consumption tax are sometimes used interchangeably. VAT raises about a fifth of total tax revenues both worldwide and among the members of the Organisation for Economic Co-operation and Development (OECD).: 14 As of 2018, 166 of the 193 countries with full UN membership employ a VAT, including all OECD members except the United States,: 14 where many states use a sales tax system instead.

There are two main methods of calculating VAT: the credit-invoice or invoice-based method and the subtraction or accounts-based method. In the credit-invoice method, sales transactions are taxed, the customer is informed of the VAT on the transaction, and businesses may receive a credit for the VAT paid on input materials and services. The credit-invoice method is by far the more common and is used by all national VATs except for Japan. In the subtraction method, a business at the end of a reporting period, calculates the value of all taxable sales, subtracts the sum of all taxable purchases, and applies the VAT rate to the difference. The subtraction method VAT is currently used only by Japan although is, often by using the name "flat tax," has been part of many recent tax reform proposals by US politicians. With both methods, there are exceptions in the calculation method for certain goods and transactions that are created to help collection or to counter tax fraud and evasion.

reference

Full Form	Category
Royal Swedish Academy of Engineering Sciences	Academic & Science
Kungliga Ingenjörsvetenskapsakademien	Academic & Science
Intellectual Virtues Academy	Academic & Science
Kungliga Ingenj?svetenskapsakademien	Academic & Science
Indiana Volleyball Academy	Academic & Science
Instability Visualization And Analysis	Business
Individual Voluntary Agreement	Business
Ivanhoe Australia Limited	Business
Ivanhoe Australia, LTD.	Business
International VAT Association	Community
Integrated Vocational Assignment	Community
Israel Venture Association	Community
Intelligent Video Analytics	Computing
Intelligent Voice Automation	General
Ideal Vehicle Awards	General
Intelligent Valve Actuation	General
In Vehicle Awareness	General
Individual Vehicle Assessment	General
Indirect Value Added	General
Intelligent Virtual Agents	General
International VELUX Award	General
International Value Advisers	General
In Vitro Activation	General
Individual Voluntary Arrangements	General
Infinity Vision Alliance	Governmental
Intra Vehicular Activity	Governmental
Individual Voluntary Arrangement	Governmental
Intelligence Virtual Architecture	Governmental
Institute for Vocal Advancement	Governmental
Individual Vehicle Approval	Governmental
Imposta sul Valore Aggiunto	International
Impuesto sobre el Valor Añadido/ Adjunto	International
Impuesto al Valor Agregado	International
Impuesto sobre el Valor A?dido/ Adjunto	International
Internet Video Archive	Internet
Indian Veterinary Association	Medical
Irish Veterinary Association (obsolete, now part of Veterinary Ireland)	Medical
Isovaleric acidemia	Medical
Ambanja, Madagascar	Regional