Fortification. 1  a broad elevation or mound of earth raised as a fortification around a place and usually capped with a stone or earth parapet. 2  such an elevation together with the parapet.
A value-added tax (VAT) is a consumption tax levied on products at every point of sale where value has been added, starting from raw materials and going all the way to final retail purchase by a consumer. Ultimately, the consumer pays VAT; buyers earlier in the chain of production receive reimbursements for previous VAT taxes paid.
The VAT system is invoice-based. Each seller in the product chain includes a VAT charge on the buyer's invoice. Under a VAT taxation system, all sellers collect the tax and then pay it to the government. The VAT gives sellers along the supply chain a direct economic motivation to collect the tax, thereby reducing the incidence of tax evasion.