Glossary

Value added tax (VAT)

A type of consumption tax that is placed on a product whenever value is added at a stage of production and at final sale. Only VAT which is non-recoverable under national VAT legislation may be an eligible expenditure.

Value for money

Term referring to judgement on whether sufficient impact is being achieved for the money spent.

verification

Concerning multi-module projects, at the end of each module, the MA/JS will perform a verification of the activities carried out and the deliverables produced by the project in order to check their compliance with the requirements established and to pass to the next module.

Tags : Assessment, Evaluation