VAT Registration
The procedure whereby firms are added to the value-added tax (VAT) register.
VAT Return
A report documenting a firm’s sales of goods and services subject to value-added tax (VAT), required from firms registered for VAT.
Vector Autoregressive (VAR) Model
A generalization of the univariate model of an autoregressive process to a system of equations describing multivariate time series.
Vehicle Currency
An economic term denoting a currency widely used in international trade transactions between countries that do not use that currency domestically.
Velocity of Circulation
The frequency with which a unit of currency circulates in the economy for transactions over a specific period.
Venture Capital
Capital invested in new or small businesses, with a high risk of loss, essential for enabling entrepreneurship.
Vertical Equity
Vertical equity refers to the principle that people in more advantageous positions should contribute more to society, particularly in the context of taxation.
Vertical Integration
The combination in one firm of two or more stages of production usually operated by separate firms.
Vertical Merger
A merger between two firms where one is a major supplier of the other.
Visible Balance
An explanation of the term 'Visible Balance' in economics, detailing its meaning, historical context, and its role within various economic frameworks.