net product. This contrasts with the conventional national accounting procedure, where many property rents are excluded from new value-added and net product on the ground that they do not reflect a productive contribution. Value added tax Value-added tax (VAT) is a tax on sales. It is assessed incrementally on a product or service at each stage of production and is intended to tax the value that is added by that production stage, as outlined above by unit value added. See also Added value Bang for the buck Economic value added Measures of national income and output#The output approach No value added Productive and unproductive labour Surplus-value United Nations System of National Accounts (UNSNA) Valorisation Value (marketing) Value-added reseller Value chain Value product Wage share References Alan Deardorff Deardorff's Glossary of International Economics (Click "V' for "Value added.") Edgar Z. Palmer, The meaning and measurement of the national income, and of other social accounting aggregates. Paul A. Samuelson and William D. Nordhaus (2004) Economics. "Glossary of Terms," Value added. Anwar Shaikh & Ahmet Ertugrul Tonak, Measuring the Wealth of Nations. CUP. M. Yanovsky, Anatomy of Social Accounting Systems. External links What Does Value Add Mean? Value Add - Your Value Add is what Matters to Your Company http://www.isixsigma.com/dictionary/value-added/ Valuation (finance) Marxian economics National accounts