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quiz
Taxing Situations
U.S. companies that exhibit internationally are no doubt familiar with value-added tax, or VAT, a levy that's assessed on a product imported into many countries, even temporarily. But while this type of tariff may be nearly universal, taxing everything from giveaway items and flatscreens to pencils and paper, the acronyms it goes by around the globe are often anything but. You'll see what we mean in this month's quiz when you try to match the country with its local acronym for VAT. But don't worry – it's not too taxing.By Charles Pappas
click your choice to see if you're right
8. After paying the tariff known here as VSK, you can take a well-earned soak in the Blue Lagoon.
9. You won't see Humphrey Bogart, but you will encounter the TVA, which is the name of this country's VAT.
10. Value-added tax is known as PVM in the only country in the world with its own official scent.
11. In the country whose coat of arms includes an illustration of Noah's Ark, the local name for VAT is AAH.
12. The levy in this land of Armani and Versace goes by a name that almost sounds like a fashion icon too: IVA.
13. In this nation, there is an NDS tax to go along with blinis, caviar, and the famed Bolshoi Theatre.
14. The levy called FPA shares its home with the birthplace of both democracy and the Olympic Games.
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