value added

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In economics, the difference between the price the customer pays for a product and the total costs of the inputs (that is, the cost of producing the product). From the value added comes the money needed to pay overheads, wages, and dividends. Added value is the basis of VAT or value-added tax, a tax on the value added at each stage of the production process of a commodity.

Black, red, and green are known as the ‘black liberation’ colours, recalling Jamaican black activist Marcus Garvey. Taken from the arms of Nyasaland, the sun indicates the dawning of a new era. Effective date: 6 July 1964. >>