Translation glossary

The Union part of the programme area is the part of the geographical area covered by the programme that are EU territories. In some programmes, the programme area may also cover territories outside EU (e.g., Norway, Switzerland, etc.), thus be outside the Union part of the programme area.

The term Value for Money refers to judgement on whether sufficient impact is being achieved for the money spent.

Value-Added Tax (VAT) is 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.

Verification means measures undertaken by FLC and the relevant programme bodies to ensure that co-financed products and services have been delivered and that expenditure declared has been paid, complies with applicable law, the Operational Programme and the conditions for support of the project.

Vocational training is training that emphasizes skills and knowledge required for a particular job function (such as typing or data entry) or a trade (such as carpentry or welding).