iva

VAT (value-added tax)

noun EE-vah Rare

Origin: Acronym of Italian Imposta sul Valore Aggiunto.

Usage Note

IVA (always written in capitals) is the Italian acronym for Imposta sul Valore Aggiunto, equivalent to VAT. It is grammatically feminine because imposta (tax) is feminine. Prices may be shown IVA inclusa (VAT included) or IVA esclusa (VAT excluded). As an acronym, it is invariable in the plural.

Examples

"Il prezzo è di cinquanta euro IVA inclusa."

Natural Translation

The price is fifty euros VAT included.

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