Money Basics
VAT meaning for kids
Kid-friendly meaning
VAT means Value Added Tax. It is extra money added to the price of many things people buy, and the government collects it to help pay for public services.
Example
If an item costs ₦10,000 before VAT, the final amount at checkout may be higher because VAT is added.
Related money terms
Want lessons, quizzes, and activities?
Create a family bank to teach kids money skills through practical activities, rewards, and progress tracking.
Start Progress Penguin