Definition:
Business travelers are most likely to encounter VAT, or Value Added Tax, during an international trip. The Value Added Tax is a tax levied by a government on the final consumption of goods or services.
Many European countries have a Value Added Tax, which travelers have to pay when purchasing goods or services. However, in many cases, businesses (or business travelers) may be able to have the Value Added Taxes they've paid during international trips refunded after they return. For example, Value Added Taxes paid for things like hotels, car services, and meals may be refunded to non-resident business travelers. About.com's Guide to European Travel has a great list of ways to get your Value Added Taxes refunded.
