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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
 
1. There's nothing neutral or cheesy about this nation's value-added tax, locally known as MWST.
a. Canada
b. Switzerland
c. Croatia

 
2. At 20 percent, this country's tax, known as TVA, is almost as high as its iconic Eiffel Tower.
a. Great Britain
b. France
c. Belgium

 
3. Along with a VAT known as Ma'am, this Middle-Eastern country has the most museums per capita.
a. Israel
b. Lebanon
c. Kuwait

 
4. You might get a buzz paying the tariff called ALV in the country with the world's heaviest coffee consumers.
a. Estonia
b. Colombia
c. Finland

 
5. With its rich history of accountants sitting for master painters, it's no wonder this country's BTW tax is so high.
a. Netherlands
b. Monaco
c. Chile

 
6. The home of "The Little Mermaid" is also the site of a value-added tax referred to as MOMS.
a. Sweden
b. Denmark
c. Norway

 
7. AFA is the acronym for VAT in this land of Rubik's cubes, paprika, goulash, and the Danube River.
a. Austria
b. Germany
c. Hungary

8. After paying the tariff known here as VSK, you can take a well-earned soak in the Blue Lagoon.
a. Iceland
b. Sweden
c. Tunisia

9. You won't see Humphrey Bogart, but you will encounter the TVA, which is the name of this country's VAT.
a. Tunisia
b. Libya
c. Morocco

10. Value-added tax is known as PVM in the only country in the world with its own official scent.
a. Lithuania
b. Latvia
c. Luxembourg

11. In the country whose coat of arms includes an illustration of Noah's Ark, the local name for VAT is AAH.
a. Albania
b. Armenia
c. Azerbaijan

12. The levy in this land of Armani and Versace goes by a name that almost sounds like a fashion icon too: IVA.
a. France
b. Spain
c. Italy

13. In this nation, there is an NDS tax to go along with blinis, caviar, and the famed Bolshoi Theatre.
a. Belarus
b. Ukraine
c. Russian Federation

14. The levy called FPA shares its home with the birthplace of both democracy and the Olympic Games.
a. Turkey
b. Greece
c. Cyprus

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