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.Value added tax (VAT), or goods and services tax (GST) is a consumption tax (CT) levied on any value that is added to a product.^ Value added tax can also be recovered.
  • Value Added Tax (VAT) Definition 15 January 2010 1:23 UTC www.economywatch.com [Source type: FILTERED WITH BAYES]

^ The value-added tax .
  • The Value-Added Tax 15 January 2010 1:23 UTC www.questia.com [Source type: FILTERED WITH BAYES]

^ VAT or Value Added Tax is paid by the consumer and is charged at every stage of production.

.In contrast to sales tax, VAT is seen as neutral with respect to the number of passages that there are between the producer and the final consumer whereas sales tax is levied on total value at each stage (though in the U.S. and many other countries, sales tax is charged only at the point of final sale to the final consumer, and a use tax only to the final user; there are no sales taxes paid at wholesale or production level).^ The VAT is a tax on manufacturers at each stage of production on the amount of value an additional producer adds to a product.
  • Pelosi says new tax is 'on the table' - The Hill's Blog Briefing Room 9 February 2010 17:27 UTC thehill.com [Source type: News]
  • Nancy Pelosi’s Big New Value Added Tax | The New Ledger 15 January 2010 1:23 UTC newledger.com [Source type: News]

^ The VAT is a multistage tax; the retail sales tax is a single-stage tax.
  • The Value-Added Tax 15 January 2010 1:23 UTC www.questia.com [Source type: FILTERED WITH BAYES]

^ VAT or Value Added Tax is paid by the consumer and is charged at every stage of production.

.The result is a cascade (downstream taxes levied on upstream taxes).^ The model also implies that higher tolerance for informal firms in one production stage increases tax avoidance in downstream and upstream stages.
  • “Value Added Taxes, Chain Effects and Informality”, Second Version 15 January 2010 1:23 UTC ideas.repec.org [Source type: Academic]

^ According to several accounts, Siemens was concerned about cascading taxes — taxes being levied on taxes — which was a problem common to manufacturers in that era.
  • MARIO CASTILLO: National value-added tax copies European model» Standard-Times 15 January 2010 1:23 UTC www.gosanangelo.com [Source type: News]

^ Where as a result of any proceedings the amount of tax with respect to which a penalty was levied has been wholly reduced, the penalty levied shall be cancelled and if the penalty has been paid, it shall be refunded.
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

.A VAT is an indirect tax, in that the tax is collected from someone who does not bear the entire cost of the tax.^ A VAT is an indirect tax, in that the tax is collected from someone other than the person who actually bears the cost of the tax (namely the seller rather than the consumer).
  • Value Added Tax - FindLawIndia.com 9 February 2010 17:27 UTC www.findlawindia.com [Source type: FILTERED WITH BAYES]

^ VAT is basically an indirect tax that is levied on someone who does not have to take the burden of the entire tax amount.
  • Value Added Tax · Taxation · iTaxRebate.com 15 January 2010 1:23 UTC www.itaxrebate.com [Source type: FILTERED WITH BAYES]

^ In short, VAT does not cost much more than income taxes to collect.
  • VAT (Value Added Tax) in Macedonia 15 January 2010 1:23 UTC samvak.tripod.com [Source type: FILTERED WITH BAYES]

Maurice Lauré, Joint Director of the French Tax Authority, the Direction générale des impôts, was first to introduce VAT on April 10, 1954, although German industrialist Dr. Wilhelm von Siemens proposed the concept in 1918. Initially directed at large businesses, it was extended over time to include all business sectors. .In France, it is the most important source of state finance, accounting for 52% of state revenues.^ Today, VAT is the most important source of income in France, accounting for more than 52 percent of the country’s revenues.
  • VAT 101—an Introduction to the Value Added Tax Affecting Relocation Services 15 January 2010 1:23 UTC www.worldwideerc.org [Source type: FILTERED WITH BAYES]

^ In France, it is the most important source of state finance, accounting for over 45% of the state's revenue.
  • Value Added Tax-RateEmpire.com 15 January 2010 1:23 UTC www.rateempire.com [Source type: FILTERED WITH BAYES]

^ In France, it is the most important source of state finance, accounting for approximately 45% of state revenues.
  • Can you explain simply what value added tax (VAT) is please? - Yahoo! Answers 15 January 2010 1:23 UTC answers.yahoo.com [Source type: FILTERED WITH BAYES]

[1]
.Personal end-consumers of products and services cannot recover VAT on purchases, but businesses are able to recover VAT on the materials and services that they buy to make further supplies or services directly or indirectly sold to end-users.^ VAT. It is the person, not the business that is registered for VAT. .
  • VAT guide 9 February 2010 17:27 UTC www.erca.gov.et [Source type: FILTERED WITH BAYES]

^ Businesses cannot reclaim VAT on any costs that do not relate to taxable supplies (e.g.
  • Value Added Tax (VAT) | Other Tax | 1 Minute Guides 15 January 2010 1:23 UTC www.taxationweb.co.uk [Source type: FILTERED WITH BAYES]

^ Personal end-consumers of products and services cannot recover VAT on purchases, but businesses are able to recover VAT on the materials and services that they buy to make further supplies or services directly or indirectly sold to end-users.

.In this way, the total tax levied at each stage in the economic chain of supply is a constant fraction of the value added by a business to its products, and most of the cost of collecting the tax is borne by business, rather than by the state.^ The value-added tax .
  • The Value-Added Tax 15 January 2010 1:23 UTC www.questia.com [Source type: FILTERED WITH BAYES]

^ Value-added tax (VAT) is one of the most significant contributions to the state budget.
  • Value-added tax - Czech republic 15 January 2010 1:23 UTC www.czech.cz [Source type: FILTERED WITH BAYES]

^ In this way, the total tax levied at each stage in the economic chain of supply is a constant fraction of the value added by a business to its products, and most of the cost of collecting the tax is borne by business, rather than by the state.

.VAT was invented because very high sales taxes and tariffs encourage cheating and smuggling.^ The VAT is a kind of sales tax.
  • Support The VAT - Forbes.com 15 January 2010 1:23 UTC www.forbes.com [Source type: FILTERED WITH BAYES]

^ VAT was invented because very high sales taxes and tariffs encouraged cheating and smuggling.
  • Value Added Tax - RateTake.com 15 January 2010 1:23 UTC www.ratetake.com [Source type: FILTERED WITH BAYES]
  • Value Added Tax-RateEmpire.com 15 January 2010 1:23 UTC www.rateempire.com [Source type: FILTERED WITH BAYES]

^ Output Tax: this is the VAT paid on sales.
  • VAT guide 9 February 2010 17:27 UTC www.erca.gov.et [Source type: FILTERED WITH BAYES]

.Critics point out that it disproportionately raises taxes on middle- and low-income homes.^ Why not just raise the income tax?
  • The Time is now For the Value Added Tax | Facing Up 15 January 2010 1:23 UTC www.facingup.org [Source type: FILTERED WITH BAYES]

^ Hamond shows that the answer depends, in part, on other factors; in particular, the distribution of the burden of any tax it replaces, and what other measures, if any, are taken to increase the incomes of low-income people.
  • PPI: Enterprise Economics IV: The Case For and Against Value-Added Taxation by David G. Raboy and M. Jeff Hamond; Robert J. Shapiro, Editor 15 January 2010 1:23 UTC www.ppionline.org [Source type: FILTERED WITH BAYES]

^ Not least of them was finding a way to make a sales tax system comparatively progressive by not overly affecting low-income earners.

Contents

Comparison with a sales tax

.Value added tax (VAT) avoids the cascade effect of sales tax by taxing only the value added at each stage of production.^ The VAT is a tax on manufacturers at each stage of production on the amount of value an additional producer adds to a product.
  • Pelosi says new tax is 'on the table' - The Hill's Blog Briefing Room 9 February 2010 17:27 UTC thehill.com [Source type: News]
  • Nancy Pelosi Thinks A Value Added Tax (VAT) Wouldn’t Make Goods, Services More Expensive 15 January 2010 1:23 UTC sayanythingblog.com [Source type: FILTERED WITH BAYES]

^ Adding the tax to the price is only for display.
  • Ubercart European VAT Compatibility | Ubercart 9 February 2010 17:27 UTC www.ubercart.org [Source type: General]

^ The value-added tax .
  • The Value-Added Tax 15 January 2010 1:23 UTC www.questia.com [Source type: FILTERED WITH BAYES]

.For this reason, throughout the world, VAT has been gaining favour over traditional sales taxes.^ The VAT is a kind of sales tax.
  • Support The VAT - Forbes.com 15 January 2010 1:23 UTC www.forbes.com [Source type: FILTERED WITH BAYES]

^ Output Tax: this is the VAT paid on sales.
  • VAT guide 9 February 2010 17:27 UTC www.erca.gov.et [Source type: FILTERED WITH BAYES]

^ Sales tax is very similar to VAT. .
  • Moonbattery: Seeds of Value-Added Tax Buried in Healthcare Abomination 15 January 2010 1:23 UTC www.moonbattery.com [Source type: Original source]

.In principle, VAT applies to all provisions of goods and services.^ A VAT is a tax collected on goods and services.
  • Is a value-added tax the answer to U.S. debt? 15 January 2010 1:23 UTC www.walletpop.com [Source type: General]
  • Is a value-added tax the answer to U.S. debt? 15 January 2010 1:23 UTC www.walletpop.com [Source type: General]

^ It is VAT on goods or services coming IN to the business.

^ Do these rates apply to all goods and services?
  • Online VAT Registration. UK Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.vatcentre.com [Source type: General]

.VAT is assessed and collected on the value of goods or services that have been provided every time there is a transaction (sale/purchase).^ Value of supply of goods or services.
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ A VAT is a tax collected on goods and services.
  • Is a value-added tax the answer to U.S. debt? 15 January 2010 1:23 UTC www.walletpop.com [Source type: General]
  • Is a value-added tax the answer to U.S. debt? 15 January 2010 1:23 UTC www.walletpop.com [Source type: General]

^ It is VAT on goods or services coming IN to the business.

.The seller charges VAT to the buyer, and the seller pays this VAT to the government.^ And when/how do I pay the VAT to the Canadian government?

^ VAT is charged to a buyer by a VAT registered seller.
  • Limited Company with VAT registration Certificate 9 February 2010 17:27 UTC www.pipitup.co.uk [Source type: News]

^ Since then, the VAT has become widely used in the European Union as a means of paying for numerous social and government expenditures by taxing, at a high rate, numerous products and services.
  • MARIO CASTILLO: National value-added tax copies European model» Standard-Times 15 January 2010 1:23 UTC www.gosanangelo.com [Source type: News]

.If, however, the purchaser is not an end user, but the goods or services purchased are costs to its business, the tax it has paid for such purchases can be deducted from the tax it charges to its customers.^ Input VAT: The tax charge on the receipt of taxable goods and services (e.g.
  • Implementing Value Added Tax (Oracle Receivables Help) 15 January 2010 1:23 UTC download-west.oracle.com [Source type: FILTERED WITH BAYES]

^ Input Tax: this is the VAT paid on purchase .
  • VAT guide 9 February 2010 17:27 UTC www.erca.gov.et [Source type: FILTERED WITH BAYES]

^ "Input Tax" is a tax charged by another registered person on any purchase of goods or provision of services.
  • ::Value Added Tax:: 15 January 2010 1:23 UTC www.rd.go.th [Source type: FILTERED WITH BAYES]

.The government only receives the difference, in other words, it is paid tax, on the gross margin of each transaction, by each participant in the sales chain.^ Output Tax: this is the VAT paid on sales.
  • VAT guide 9 February 2010 17:27 UTC www.erca.gov.et [Source type: FILTERED WITH BAYES]

^ In other words, the tax is added to other taxes.
  • Beware the Value-Added Tax 9 February 2010 17:27 UTC www.heritage.org [Source type: FILTERED WITH BAYES]

^ In other words, tax on the original sales price, not on the other taxes.
  • U.S. VAT Tax Would Affect Games, Systems, Online Fees (and everything else) | GamePolitics 15 January 2010 1:23 UTC www.gamepolitics.com [Source type: General]

.In many developing countries such as India, sales tax/VAT are key revenue sources as high unemployment and low per capita income render other income sources inadequate.^ A VAT has the capacity to raise enormous revenues at a low tax rate.
  • CRS Report: IB91078 - Value-Added Tax as a New Revenue Source - NLE 15 January 2010 1:23 UTC cnie.org [Source type: FILTERED WITH BAYES]

^ The VAT is a kind of sales tax.
  • Support The VAT - Forbes.com 15 January 2010 1:23 UTC www.forbes.com [Source type: FILTERED WITH BAYES]

^ Hence, the VAT has been introduced to replace such sales tax structure.
  • Business Portal of India : Taxation : Value Added Tax (VAT) 9 February 2010 17:27 UTC business.gov.in [Source type: FILTERED WITH BAYES]

.However, there is strong opposition to this by many sub-national governments as it leads to an overall reduction in the revenue they collect as well as a loss of some autonomy.^ The government benefits from higher revenue collections.
  • Oh VAT a lovely tax 9 February 2010 17:27 UTC openlib.org [Source type: Original source]

^ However, real world evidence from VAT nations shows that when such a tax replacement or reduction was cited as an argument to switch to a VAT, not only were corporate and income taxes not eliminated, but they were in fact raised.
  • Americans for Tax Reform Center for Fiscal Accountability 9 February 2010 17:27 UTC www.fiscalaccountability.org [Source type: FILTERED WITH BAYES]

^ Revenues from a value added tax are frequently lower than expected because they are difficult and costly to administer and collect.
  • VAT - Value Added Tax - Value Added Tax India - Value Added Tax Definition 15 January 2010 1:23 UTC www.iloveindia.com [Source type: FILTERED WITH BAYES]

.Sales tax is normally charged on end users (consumers).^ Tax charged on sales at each different rate.

^ Sales taxes on the other hand, are normally only charged on final sales to the end consumers.
  • Value Added Tax - RateTake.com 15 January 2010 1:23 UTC www.ratetake.com [Source type: FILTERED WITH BAYES]

^ States in India currently charge octroi at the entry point, sales tax, and excise duty on a few items like alcohol.
  • Oh VAT a lovely tax 9 February 2010 17:27 UTC openlib.org [Source type: Original source]

.The VAT mechanism means that the end-user tax is the same as it would be with a sales tax.^ How is VAT different from Sales Tax?
  • VAT -FAQ | RayMedi 9 February 2010 17:27 UTC www.gofrugal.com [Source type: General]

^ The VAT is a kind of sales tax.
  • Support The VAT - Forbes.com 15 January 2010 1:23 UTC www.forbes.com [Source type: FILTERED WITH BAYES]

^ VAT is nothing but sales tax at source.
  • Value Added Tax (VAT) 2010 India 9 February 2010 17:27 UTC www.worldjute.com [Source type: FILTERED WITH BAYES]

.The main difference is the extra accounting required by those in the middle of the supply chain; this disadvantage of VAT is balanced by application of the same tax to each member of the production chain regardless of its position in it and the position of its customers, reducing the effort required to check and certify their status.^ Throughout the supply chain, VAT is paid.
  • VAT Tax 9 February 2010 17:27 UTC blog.sabrix.com [Source type: FILTERED WITH BAYES]

^ Some products can have different tax rate when selling to different type of customer.
  • VAT - OFBiz (Open For Business) Project Open Wiki - Apache Software Foundation 9 February 2010 17:27 UTC cwiki.apache.org [Source type: FILTERED WITH BAYES]

^ Charging customers VAT Charge customers VAT tax as soon as you are required to register.

.When the VAT system has few, if any, exemptions such as with GST in New Zealand, payment of VAT is even simpler.^ When the VAT has few, or barely any exemptions such as with GST in New Zealand, payment of VAT is even simpler.
  • Value Added Tax - RateTake.com 15 January 2010 1:23 UTC www.ratetake.com [Source type: FILTERED WITH BAYES]

^ In certain countries, including Australia, Canada, New Zealand, and Singapore, this tax is known as the goods and services tax or GST; and in Japan it is known as consumption tax.
  • Value Added Tax - RateTake.com 15 January 2010 1:23 UTC www.ratetake.com [Source type: FILTERED WITH BAYES]

^ When the day comes that the political class finally agrees to raise net new revenue it will be better to raise it through a VAT a percent or even fraction of a percent at a time.
  • http://blogs.reuters.com/james-pethokoukis/tag/vat/ 9 February 2010 17:27 UTC blogs.reuters.com [Source type: General]

.A general economic idea is that if sales taxes exceed 10%, people start engaging in widespread tax evading activity (like buying over the Internet, pretending to be a business, buying at wholesale, buying products through an employer etc.^ People would buy like crazy.
  • Video - The Value Added Tax: A Hidden New Tax to Finance Much Bigger Government - Congress 15 January 2010 1:23 UTC beltwayblips.dailyradar.com [Source type: FILTERED WITH BAYES]

^ This is equivalent to taxing businesses on sales to nonbusinesses.
  • Consumption Tax Information 9 February 2010 17:27 UTC www.cob.sjsu.edu [Source type: FILTERED WITH BAYES]

^ So I like to see the sales tax separate from the actual price of the product.
  • Value-Added-Taxes in Europe Average 19.8% | Europe Forum | Fodor's Travel Talk Forums 15 January 2010 1:23 UTC www.fodors.com [Source type: General]

) .On the other hand, total VAT rates can rise above 10% without widespread evasion because of the novel collection mechanism.^ Our commission rate is determined by the total of VAT refund and it is from 4% to 10 %.
  • VAT refund, Value added tax, refund, VAT claiming from abroad and from Czech Republic, VAT, EU, CZ, CR 9 February 2010 17:27 UTC www.vat.name [Source type: FILTERED WITH BAYES]

^ Exempt supplies , on the other hand, are not taxable ; they are exempt from VAT. They include insurance, financial transactions, betting, education, health supplies, land and postal services.
  • Value Added Tax (VAT) | Other Tax | 1 Minute Guides 15 January 2010 1:23 UTC www.taxationweb.co.uk [Source type: FILTERED WITH BAYES]

^ Because it is collected in stages along the chain of production, rather than all at the retail level, tax evasion is more difficult.
  • http://blogs.reuters.com/james-pethokoukis/tag/vat/ 9 February 2010 17:27 UTC blogs.reuters.com [Source type: General]

.February 2007" style="white-space:nowrap;">[citation needed] However, because of its particular mechanism of collection, VAT becomes quite easily the target of specific frauds like carousel fraud, which can be very expensive in terms of loss of tax incomes for states.^ VAT is a very good redistribution mechanism for the proceeds of a carbon tax.
  • Is a Value Added Tax in Your Future? « naked capitalism 15 January 2010 1:23 UTC www.nakedcapitalism.com [Source type: FILTERED WITH BAYES]

^ A VAT is a tax collected on goods and services.
  • Is a value-added tax the answer to U.S. debt? 15 January 2010 1:23 UTC www.walletpop.com [Source type: General]

^ Laundering the proceeds of VAT carousel fraud .
  • Value Added Tax (VAT) - Reckon LLP 15 January 2010 1:23 UTC www.reckon.co.uk [Source type: Academic]

Principle of VAT

.The standard way to implement a VAT is to say a business owes some percentage on the price of the product minus all taxes previously paid on the good.^ Products were added with prices inclusive of vat 3.
  • Ubercart European VAT Compatibility | Ubercart 9 February 2010 17:27 UTC www.ubercart.org [Source type: General]

^ VAT is an all-pervasive tax.
  • VAT (Value Added Tax) in Macedonia 15 January 2010 1:23 UTC samvak.tripod.com [Source type: FILTERED WITH BAYES]

^ It is VAT on goods or services coming IN to the business.

.If VAT rates were 10%, an orange juice maker would pay 10% of the £5 per litre price (£0.50) minus taxes previously paid by the orange farmer (maybe £0.20).^ FAQs: What is the VAT tax rate in Spain?
  • VAT tax in Spain - getting a Spanish VAT number 9 February 2010 17:27 UTC www.strongabogados.com [Source type: General]

^ Can we recover VAT tax paid?
  • VAT tax in Spain - getting a Spanish VAT number 9 February 2010 17:27 UTC www.strongabogados.com [Source type: General]

^ The towel-maker would therefore pay the farmer 117,500.
  • http://www.bbc.co.uk/dna/h2g2/a4803040 15 January 2010 1:23 UTC www.bbc.co.uk [Source type: FILTERED WITH BAYES]

.In this example, the orange juice maker would have a £0.30 tax liability.^ In this example, the computer manufacturer would have a $3 tax liability… .
  • value added tax « Calbuzz 15 January 2010 1:23 UTC www.calbuzz.com [Source type: FILTERED WITH BAYES]

^ In 2007, 43% of all returns had no tax liability, according to the JCT. A VAT would be a way of getting all Americans to pay for the federal government's operations.
  • VAT Time? - Forbes.com 9 February 2010 17:27 UTC www.forbes.com [Source type: News]

^ Here is an example of how the tax would work, as described by the California Manufacturing and Technology Association : .
  • value added tax « Calbuzz 15 January 2010 1:23 UTC www.calbuzz.com [Source type: FILTERED WITH BAYES]

.Each business has a strong incentive for its suppliers to pay their taxes, allowing VAT rates to be higher with less tax evasion than a retail sales tax.^ [T]he VAT would be better than the other likely alternative: A higher retail sales tax.
  • Taxes: Are You Ready for VAT? : EveryJoe - Sports News – Tech Reviews – Entertainment – Life Tips for EveryJoe 9 February 2010 17:27 UTC www.everyjoe.com [Source type: FILTERED WITH BAYES]

^ The VAT is a multistage tax; the retail sales tax is a single-stage tax.
  • The Value-Added Tax 15 January 2010 1:23 UTC www.questia.com [Source type: FILTERED WITH BAYES]

^ Net Turnover of sales at each VAT rate (excluding tax).

Behind this simple principle are the variations in its implementations, as discussed in the next section.

Basis for VATs

.By the method of collection, VAT can be accounts-based or invoice-based[2].^ By imposing a tax on receipts but then allowing a credit for VAT taxes collected at earlier stages of production, the credit-invoice VAT taxes the “value added” by each business.
  • Beware the Value-Added Tax 9 February 2010 17:27 UTC www.heritage.org [Source type: FILTERED WITH BAYES]

^ The VAT tax base can be computed through either the deduction or the addition method.
  • A new state VAT? Lessons from New Hampshire. (value-addedtax)(Fundamental Tax Reform: Possibilities and Problems) - Entrepreneur.com 15 January 2010 1:23 UTC www.entrepreneur.com [Source type: News]

^ The entire design of VAT with input tax credit is crucially based on documentation of tax invoice, cash memo or bill.
  • Business Portal of India : Taxation : Value Added Tax (VAT) 9 February 2010 17:27 UTC business.gov.in [Source type: FILTERED WITH BAYES]

.Under the invoice method of collection, each seller charges VAT rate on his output and passes the buyer a special invoice that indicates the amount of tax charged.^ In the event that the tax is exigible from the recipient, in the invoice shall not be indicated the amount of the tax and the tax rate.
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

^ Tax charged on sales at each different rate.

^ For the tax, charged under par.
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

.Buyers who are subject to VAT on their own sales, use these invoices to obtain a credit (reduction) towards their own VAT liability.^ Credit-subtraction VAT without invoices .
  • Value Added Tax - Cambridge University Press 15 January 2010 1:23 UTC www.cambridge.org [Source type: Reference]

^ Who is subject to VAT? .
  • Bedin - Guide to Value Added Tax 9 February 2010 17:27 UTC www.bedin.no [Source type: FILTERED WITH BAYES]

^ Advantages of the credit invoice VAT over a subtraction VAT— .
  • Consumption Tax Information 9 February 2010 17:27 UTC www.cob.sjsu.edu [Source type: FILTERED WITH BAYES]

.The difference in tax shown on invoices passed and invoices received is then paid to the government (or a refund is claimed, in the case of negative liability).^ Tax paid on purchases at each different rate.

^ These laws require sending in quarterly payments that include taxes on invoices, even if those invoices are not yet paid.
  • There's Not Much Value in the Value-Added Tax - WSJ.com 15 January 2010 1:23 UTC online.wsj.com [Source type: General]

^ Set off is allowed of the tax paid on creditable purchases made by a dealer and the difference between the two is net tax payable by a dealer.
  • PROCEDURE TO BE FOLLOWED FOR DELHI VALUE ADDED TAX 15 January 2010 1:23 UTC cadelhi.com [Source type: Original source]

.Under the accounts based method, no such specific invoices are used.^ In addition, and of direct benefit to SMEs, is the option for Member States to introduce a cash accounting scheme under which the tax becomes due only when the invoice is paid.
  • EUROPA - Press Releases - VAT: Commissionproposes a review of the VAT rules on invoicing with a view to reduce burdens onbusiness and to help Member States tackle fraud 9 February 2010 17:27 UTC europa.eu [Source type: Reference]

^ Under the vat cash accounting scheme the vat return and liability to pay vat is based upon the date sales were received and the date purchases were paid rather than the invoice tax points.
  • Vat Schemes and Vat Thresholds 9 February 2010 17:27 UTC ezinearticles.com [Source type: General]

^ Sales considered as exportation of goods under a special law such as Executive Order No.
  • Bureau of Internal Revenue Website 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: FILTERED WITH BAYES]

.Instead, the tax is calculated on the value added, measured as a difference between revenues and allowable purchases.^ The value-added of a firm is the difference between that firm's sales and its purchases from all other firms.
  • CRS Report: IB91078 - Value-Added Tax as a New Revenue Source - NLE 15 January 2010 1:23 UTC cnie.org [Source type: FILTERED WITH BAYES]

^ Chapter 78 Value Added Tax .

^ Value Added Tax , ภาษีมูลค่าเพิ่ม .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

.Most countries today use the invoice method, the only exception being Japan, which uses the accounts method.^ Of all countries with a VAT, only Japan utilizes the subtraction method.
  • Support The VAT - Forbes.com 15 January 2010 1:23 UTC www.forbes.com [Source type: FILTERED WITH BAYES]

^ This method has been followed by most of the countries in the world.
  • Welcome to Keraltoday Tours and travels !!! 9 February 2010 17:27 UTC keraltoday.com [Source type: Original source]

^ Today, VAT is the most important source of income in France, accounting for more than 52 percent of the country’s revenues.
  • VAT 101—an Introduction to the Value Added Tax Affecting Relocation Services 15 January 2010 1:23 UTC www.worldwideerc.org [Source type: FILTERED WITH BAYES]

.By the timing of collection[3], VAT (as well as accounting in general) can be either accrual or cash based.^ To understand the accounting and other documents and records required to be maintained for VAT. To identify traders requiring registration or able to deregister for VAT. To define a taxable person; supply; time of supply and place of supply.

^ The flat rate scheme for small businesses simplifies VAT accounting procedures to save you time and money.
  • Online VAT Registration. UK Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.vatcentre.com [Source type: General]

^ A well administered VAT can reduce tax evasion, but it would also be seen as an invasion upon businesses that have traditionally dealt in cash.
  • Not A Value Added Tax!!! | Capital Gains and Games 15 January 2010 1:23 UTC capitalgainsandgames.com [Source type: FILTERED WITH BAYES]

.Cash basis accounting is a very simple form of accounting.^ You may account for VAT on the cash receipts basis ( s 14 ) if: .
  • Value-Added Tax / 2008 / Summary 15 January 2010 1:23 UTC www.taxworld.ie [Source type: FILTERED WITH BAYES]
  • Value-Added Tax / 2007 / Summary 15 January 2010 1:23 UTC www.taxworld.ie [Source type: FILTERED WITH BAYES]

^ Accounting for vat using the Cash Accounting Scheme may require businesses to record sales and purchases on cash received and paid basis and adjust accounting records for accruals.
  • Vat Schemes and Vat Thresholds 9 February 2010 17:27 UTC ezinearticles.com [Source type: General]

^ A. Accounting Basis - (1) A registered person may elect to account for tax payable on either an invoice basis or a payments basis and shall notify the Collector of the election in the prescribed form.
  • Value Added Tax 1997 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

.When a payment is received for the sale of goods or services, a deposit is made, and the revenue is recorded as of the date of the receipt of funds — no matter when the sale had been made.^ Matters to be treated as supply of goods or services.
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ For sales of goods or taxable services, it is the date on which the sale amount is received or the vouchers for collecting the sale amount are obtained.
  • Laws 15 January 2010 1:23 UTC www.fdi.gov.cn [Source type: Original source]

^ In other words, whenever you are selling or buying goods or services, and you are according to a legally binding agreement making or receiving a payment, or consideration, for this supply, you most likely either charge or pay VAT. .
  • VAT 101—an Introduction to the Value Added Tax Affecting Relocation Services 15 January 2010 1:23 UTC www.worldwideerc.org [Source type: FILTERED WITH BAYES]

.Checks are written when funds are available to pay bills, and the expense is recorded as of the check date — regardless of when the expense had been incurred.^ The board shall adopt uniform and reasonable rules governing the incurring and paying of such expenses.
  • Agriculture Value-Added Development Fund Program - Colorado | The New Rules Project 15 January 2010 1:23 UTC www.newrules.org [Source type: FILTERED WITH BAYES]

.The primary focus is on the amount of cash in the bank, and the secondary focus is on making sure all bills are paid.^ Amounts paid in cash/bank to be debited to VAT Payable Account.

^ Make sure that there is only one session of RELIEF active at all times.
  • Tax Information 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: Reference]

^ How can I make sure all my bills from Linden Lab will be made out to my Company?
  • Linden Lab Official:Value Added Tax (VAT) Frequently Asked Questions - Second Life Wiki 15 January 2010 1:23 UTC wiki.secondlife.com [Source type: FILTERED WITH BAYES]

.Little effort is made to match revenues to the time period in which they are earned, or to match expenses to the time period in which they are incurred.^ Employee A would be liable to Class 1 NICs on the £2,500 as according to H.M. Revenue and Customs they are relevant earnings.
  • The Blog from Imbercal - making online accounting easy 9 February 2010 17:27 UTC imbercal.com [Source type: General]

^ They may own the mutual funds for a long period of time.
  • "Financial Transactions Tax" Comes before "Value-Added Tax" | TPMCafe 15 January 2010 1:23 UTC tpmcafe.talkingpointsmemo.com [Source type: FILTERED WITH BAYES]

^ In case of rendition of services, for instance, presumed profit is determined by applying 32% over the gross revenues earned by the company in the period.

.Accrual basis accounting matches revenues to the time period in which they are earned and matches expenses to the time period in which they are incurred.^ Refunds, if any, which the dealer will be entitled on the basis of his return, shall be issued to them electronically to their bank accounts within one month, unless they are withheld for specified reasons.
  • PROCEDURE TO BE FOLLOWED FOR DELHI VALUE ADDED TAX 15 January 2010 1:23 UTC cadelhi.com [Source type: Original source]

^ In case of rendition of services, for instance, presumed profit is determined by applying 32% over the gross revenues earned by the company in the period.

^ In case your request for refund by draft or credit to credit card account receives no reply within an appropriate period of time, please contact the .
  • Thailand Tourist Information : Tips & Facts : Who Can Claim VAT Refunds? 9 February 2010 17:27 UTC www.thaiwaysmagazine.com [Source type: General]

.While it is more complex than cash basis accounting, it provides much more information about your business.^ Traders with a turnover of not more than £600,000 (£350,000 before 1 April 2001) may account for VAT on a cash basis rather than an invoice basis, thereby obtaining automatic relief for any bad debts.
  • Services > Taxation > Vat | Parker Randall Uruguay, an Independant Member of Parker Randal International 9 February 2010 17:27 UTC www.uy.parkerrandall.com [Source type: News]

^ Today, VAT is the most important source of income in France, accounting for more than 52 percent of the country’s revenues.
  • VAT 101—an Introduction to the Value Added Tax Affecting Relocation Services 15 January 2010 1:23 UTC www.worldwideerc.org [Source type: FILTERED WITH BAYES]

^ It is more than just a tax; it influences business strategies in all areas - capital expenditure and investment, sales, exports, information systems - and at all stages of a company's internal or external expansion.
  • CMS Bureau Francis Lefebvre | Cabinet d'avocats | Expertise | VAT 9 February 2010 17:27 UTC www.cms-bfl.com [Source type: FILTERED WITH BAYES]

.The accrual basis allows you to track receivables (amounts due from customers on credit sales) and payables (amounts due to vendors on credit purchases).^ Allows you to clear goods from customs .
  • Online VAT Registration. UK Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.vatcentre.com [Source type: General]
  • VAT Registration Online Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.formationshouse.com [Source type: News]

^ Every registered dealer, having turnover of sales above an amount specified, needs to issue to the purchaser serially numbered tax invoice with the prescribed particulars.
  • Business Portal of India : Taxation : Value Added Tax (VAT) 9 February 2010 17:27 UTC business.gov.in [Source type: FILTERED WITH BAYES]

^ Any input VAT incurred may be recovered by those businesses liable to charge VAT. This is done by means of submitting periodical VAT returns, and by offsetting VAT payable to the authorities on sales against VAT due for repayment on purchases.
  • VAT 101—an Introduction to the Value Added Tax Affecting Relocation Services 15 January 2010 1:23 UTC www.worldwideerc.org [Source type: FILTERED WITH BAYES]

.The accrual basis allows you to match revenues to the expenses incurred in earning them, giving you more meaningful financial reports.^ Ideal for small businesses and 'one man bands', this app allows you to keep track of all your accounts, including bank accounts, sales and purchase invoices, expenses and earnings.
  • vat Resources | ZDNet 9 February 2010 17:27 UTC updates.zdnet.com [Source type: General]

^ If an inspector or other authorised Revenue officer believes that you have underpaid VAT for one or more VAT periods, he may make an assessment of the VAT underpaid ( s 23 ).
  • Value-Added Tax / 2008 / Summary 15 January 2010 1:23 UTC www.taxworld.ie [Source type: FILTERED WITH BAYES]
  • Value-Added Tax / 2007 / Summary 15 January 2010 1:23 UTC www.taxworld.ie [Source type: FILTERED WITH BAYES]

^ When I say “limits” I of course don’t mean you can’t check more weight than allowed; it’s just that you will be charged for it.
  • Avoiding VAT 9 February 2010 17:27 UTC www.svsarah.com [Source type: General]

Example

.Consider the manufacture and sale of any item, which in this case we will call a widget.^ Consider the manufacture and sale of any .
  • Value added tax (VAT) 15 January 2010 1:23 UTC www.sandiegoapa.com [Source type: FILTERED WITH BAYES]

^ People consider the VAT as part of the manufacturing cost while they see the sales tax as just a tax.
  • The Time is now For the Value Added Tax | Facing Up 15 January 2010 1:23 UTC www.facingup.org [Source type: FILTERED WITH BAYES]

.In what follows , the term "gross margin" is used rather than "profit". Profit is only what is left after paying other costs, such as rent and personnel.^ The White House claims in the story that a VAT is "unlikely to be in the mix" for paying off Obama's health care costs, but if personnel is policy, we should be afraid: .
  • Are You Ready for a VAT? | The Weekly Standard 9 February 2010 17:27 UTC www.weeklystandard.com [Source type: General]

^ We’ve passed on the reduction directly and we have no plans to increase the material cost, other than to pass on the corresponding VAT increase at the end of 2009.
  • VAT Change: Update - Community Site News from Plusnet 9 February 2010 17:27 UTC community.plus.net [Source type: General]

^ Only in the case of 30,000 companies - are the costs less than 20%.
  • VAT (Value Added Tax) in Macedonia 15 January 2010 1:23 UTC samvak.tripod.com [Source type: FILTERED WITH BAYES]

Without any tax

  • A widget manufacturer spends $1.00 on raw materials and uses them to make a widget.
  • The widget is sold wholesale to a widget retailer for $1.20, making a gross margin of $0.20.
  • The widget retailer then sells the widget to a widget consumer for $1.50, making a gross margin of $0.30.

With a North American (Canadian provincial and U.S. state) sales tax

With a 10% sales tax:
  • The manufacturer pays $1.00 for the raw materials, certifying it is not a final consumer.
  • The manufacturer charges the retailer $1.20, checking that the retailer is not a consumer, leaving the same gross margin of $0.20.
  • The retailer charges the consumer $1.65 ($1.50 + $1.50x10%) and pays the government $0.15, leaving the gross margin of $0.30.
.So the consumer has paid 10% ($0.15) extra, compared to the no taxation scheme, and the government has collected this amount in taxation.^ It is collected fractionally, via a system of deductions whereby taxable persons can deduct from their VAT liability the amount of tax they have paid to other taxable persons on purchases for their business activities.
  • Value Added Tax - FindLawIndia.com 9 February 2010 17:27 UTC www.findlawindia.com [Source type: FILTERED WITH BAYES]

^ Or, if VAT paid exceeds VAT collected, the company would request a refund of the difference from the government.
  • Consumption Tax Information 9 February 2010 17:27 UTC www.cob.sjsu.edu [Source type: FILTERED WITH BAYES]

^ And the tax collected by him @ 10% over the price of Rupees 150 from Hari – Rupees 15 is the Out put Tax.
  • Welcome to Keraltoday Tours and travels !!! 9 February 2010 17:27 UTC keraltoday.com [Source type: Original source]

.The retailers have not pais any tax directly (it is the consumer who has paid the tax), but the retailer has to do the paperwork in order to correctly pass on to the government the sales tax it has collected.^ Output Tax: this is the VAT paid on sales.
  • VAT guide 9 February 2010 17:27 UTC www.erca.gov.et [Source type: FILTERED WITH BAYES]

^ Sales Tax paid in most (all?
  • What Is a “Value-Added Tax,” Anyway? | Wise Bread 15 January 2010 1:23 UTC www.wisebread.com [Source type: General]

^ Under the VAT, the government still has the $10 paid by A; under a retail sales tax, it has nothing.
  • Finance & Development, June 2002 - The Allure of the Value-Added Tax 15 January 2010 1:23 UTC www.imf.org [Source type: FILTERED WITH BAYES]

.Suppliers and manufacturers only have the administrative burden of supplying correct certifications, and checking that their customers (retailers) aren't consumers.^ Community supplies of goods; the introduction of the same tax period for both the supplier and the purchaser or customer in the context of intra-Community transactions; the reduction of administrative burdens; an authorisation for operators to submit on a quarterly basis the recapitulative statements concerning intra-Community supplies of goods.
  • Common system of value added tax (VAT) (‘the VAT Directive’) 15 January 2010 1:23 UTC europa.eu [Source type: FILTERED WITH BAYES]

^ Thus, it is clear from the above exhibit that VAT is collected at each stage of production and distribution process and, in principle, its burden falls on final consumers only.
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ Unlike a retail sales tax—under which tax is collected only at the point of sale to the final consumer—revenue is collected throughout the production process.
  • Finance & Development, June 2002 - The Allure of the Value-Added Tax 15 January 2010 1:23 UTC www.imf.org [Source type: FILTERED WITH BAYES]

With a value added tax

With a 10% VAT:
  • The manufacturer pays $1.10 ($1 + $1x10%) for the raw materials, and the seller of the raw materials pays the government $0.10.
  • The manufacturer charges the retailer $1.32 ($1.20 + $1.20x10%) and pays the government $0.02 ($0.12 minus $0.10), leaving the same gross margin of $0.20.
  • The retailer charges the consumer $1.65 ($1.50 + $1.50x10%) and pays the government $0.03 ($0.15 minus $0.12), leaving the gross margin of $0.30 (1.65-1.32-.03).
.With VAT the consumer has paid, and the government received the same as with sales tax.^ Input Tax: this is the VAT paid on purchase .
  • VAT guide 9 February 2010 17:27 UTC www.erca.gov.et [Source type: FILTERED WITH BAYES]

^ Output Tax: this is the VAT paid on sales.
  • VAT guide 9 February 2010 17:27 UTC www.erca.gov.et [Source type: FILTERED WITH BAYES]

^ Sales tax is very similar to VAT. .
  • Moonbattery: Seeds of Value-Added Tax Buried in Healthcare Abomination 15 January 2010 1:23 UTC www.moonbattery.com [Source type: Original source]

.The businesses have not lost anything directly to the tax.^ A taxable person is entitled to deduct all the tax paid in the preceding stage, the input VAT, if the supply is used either directly or indirectly for business purposes.
  • VAT 101—an Introduction to the Value Added Tax Affecting Relocation Services 15 January 2010 1:23 UTC www.worldwideerc.org [Source type: FILTERED WITH BAYES]

.They do not need to request certifications from purchasers who are not end users, but they do have the extra accounting to do so that they correctly pass on to the government the difference between what they collect in VAT (output VAT, an 11th of their income) and what they spend in VAT (input VAT, an 11th of their expenditure).^ Input Tax: this is the VAT paid on purchase .
  • VAT guide 9 February 2010 17:27 UTC www.erca.gov.et [Source type: FILTERED WITH BAYES]

^ The registrant will then remit or claim the difference between input and output VAT. .
  • Value Added Tax (VAT) | GOV.gd: 15 January 2010 1:23 UTC www.gov.gd [Source type: FILTERED WITH BAYES]

^ The difference between the amounts of output tax and input tax is the VAT payable to the FIRA/VAT. .
  • VAT guide 9 February 2010 17:27 UTC www.erca.gov.et [Source type: FILTERED WITH BAYES]

Note that in each case the VAT paid is equal to 10% of the gross margin, or 'value added'.
.The advantage of the VAT system over the sales tax system is that under sales tax, the seller has no incentive to disbelieve a purchaser who says it is not a final user.^ Input Tax: this is the VAT paid on purchase .
  • VAT guide 9 February 2010 17:27 UTC www.erca.gov.et [Source type: FILTERED WITH BAYES]

^ Output Tax: this is the VAT paid on sales.
  • VAT guide 9 February 2010 17:27 UTC www.erca.gov.et [Source type: FILTERED WITH BAYES]

^ Sales tax is very similar to VAT. .
  • Moonbattery: Seeds of Value-Added Tax Buried in Healthcare Abomination 15 January 2010 1:23 UTC www.moonbattery.com [Source type: Original source]

.That is to say the payer of the tax has no incentive to collect the tax.^ This year, states...say that VAT was a "progressive tax system" and noted its own attempts...expected to rationalise and improve tax collection from the manufacturing...
  • value-added tax Facts, information, pictures | Encyclopedia.com articles about value-added tax 15 January 2010 1:23 UTC www.encyclopedia.com [Source type: FILTERED WITH BAYES]

^ In view of above, as per "GN " it is recommended that the amount of tax collected from customers on sale of goods should be credited to an appropriate account, say, VAT (CST) Payable Account.

^ The VAT liability of the dealer/ manufacturer is calculated by deducting input tax credit from tax collected on sales during the payment period (say, a month).
  • Business Portal of India : Taxation : Value Added Tax (VAT) 9 February 2010 17:27 UTC business.gov.in [Source type: FILTERED WITH BAYES]

.Under VAT, all sellers collect tax and pay it to the government.^ However, not all VAT taxes are refundable.
  • IAPP - Understanding value-added tax aids compliance 15 January 2010 1:23 UTC www.iappnet.org [Source type: FILTERED WITH BAYES]

^ Q. 21 Who is liable to pay tax under VAT ?
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ VAT is an all-pervasive tax.
  • VAT (Value Added Tax) in Macedonia 15 January 2010 1:23 UTC samvak.tripod.com [Source type: FILTERED WITH BAYES]

.A purchaser has an incentive to deduct input VAT, but must prove it has the irght to do so.^ In general, the following input VAT is deductible: .

^ In general, the following input VAT is not deductible: .

^ Taxable transactions carried out outside Belgium (which would give the right to deduct input VAT if they had been performed in Belgium); 4.

Limitations to example and VAT

.In the above example, we assumed that the same number of widgets were made and sold both before and after the introduction of the tax.^ Community supplies of goods; the introduction of the same tax period for both the supplier and the purchaser or customer in the context of intra-Community transactions; the reduction of administrative burdens; an authorisation for operators to submit on a quarterly basis the recapitulative statements concerning intra-Community supplies of goods.
  • Common system of value added tax (VAT) (‘the VAT Directive’) 15 January 2010 1:23 UTC europa.eu [Source type: FILTERED WITH BAYES]

^ Or if I buy something and I need an ivoice for tax purposes, on this invoice I need both my VAT number and Fiscal Code .
  • Ubercart European VAT Compatibility | Ubercart 9 February 2010 17:27 UTC www.ubercart.org [Source type: General]

^ If established and not paid tax liabilities are present deduction and restoration of the remainder, if any, shall be made within the same period.
  • LAW FOR VALUE ADDED TAX 15 January 2010 1:23 UTC www.bcnl.org [Source type: Original source]

This is not true in real life.
.The fundamentals of supply and demand suggest that any tax raises the cost of transaction for someone, whether it is the seller or purchaser.^ When taxes are raised then the supply for a good will go down to offset the cost.
  • The Time is now For the Value Added Tax | Facing Up 15 January 2010 1:23 UTC www.facingup.org [Source type: FILTERED WITH BAYES]

^ Community supplies of goods; the introduction of the same tax period for both the supplier and the purchaser or customer in the context of intra-Community transactions; the reduction of administrative burdens; an authorisation for operators to submit on a quarterly basis the recapitulative statements concerning intra-Community supplies of goods.
  • Common system of value added tax (VAT) (‘the VAT Directive’) 15 January 2010 1:23 UTC europa.eu [Source type: FILTERED WITH BAYES]

^ The gross consideration (i.e., the taxable amount ) includes all commissions, costs, charges and taxes (apart from VAT) in respect of the supply ( s 10 ).
  • Value-Added Tax / 2008 / Summary 15 January 2010 1:23 UTC www.taxworld.ie [Source type: FILTERED WITH BAYES]
  • Value-Added Tax / 2007 / Summary 15 January 2010 1:23 UTC www.taxworld.ie [Source type: FILTERED WITH BAYES]

.In raising the cost, either the demand curve shifts leftward, or the supply curve shifts upward.^ When taxes are raised then the supply for a good will go down to offset the cost.
  • The Time is now For the Value Added Tax | Facing Up 15 January 2010 1:23 UTC www.facingup.org [Source type: FILTERED WITH BAYES]

The two are functionally equivalent. .Consequently, the quantity of a good purchased decreases, and/or the price for which it is sold increases.^ Quantity and description of the goods sold.
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ It occurs when goods sold by a taxable person in the Member State of departure are purchased in another Member State (of arrival) by a taxable person acting in that capacity or by a non-taxable legal person.
  • Common system of value added tax (VAT) (‘the VAT Directive’) 15 January 2010 1:23 UTC europa.eu [Source type: FILTERED WITH BAYES]

^ In a subsequent year, when the producer sold the goods from inventory, the wages previously paid for inventory increases now would enter the tax base.
  • Federal Tax on Net Value Added 15 January 2010 1:23 UTC www.taxhistory.org [Source type: FILTERED WITH BAYES]

.This shift in supply and demand is not incorporated into the above example, for simplicity and because these effects are different for every type of good.^ Has different VAT rates, for different type of goods .
  • VAT - OFBiz (Open For Business) Project Open Wiki - Apache Software Foundation 9 February 2010 17:27 UTC cwiki.apache.org [Source type: FILTERED WITH BAYES]

^ "That's because supply is in excess of demand.
  • VAT's happening 9 February 2010 17:27 UTC www.wright.edu [Source type: FILTERED WITH BAYES]

^ The rules are different for a B2B transaction than for a B2C. For example, the rules vary from service type to service type when a service is provided to a customer.
  • VAT Tax 9 February 2010 17:27 UTC blog.sabrix.com [Source type: FILTERED WITH BAYES]

.The above example assumes the tax is non-distortionary.^ Be aware that if the total input tax is no non-deductible, you have to review another Note (98181) for a configuration example for the relevant tax types.
  • VAT Tax 9 February 2010 17:27 UTC blog.sabrix.com [Source type: FILTERED WITH BAYES]

.A VAT, like most taxes, distorts what would have happened without it.^ VAT would be in addition to the federal tax.
  • Reject the Value-Added Tax, Rein in Spending Instead | The Foundry: Conservative Policy News. 15 January 2010 1:23 UTC blog.heritage.org [Source type: News]
  • Reject the Value-Added Tax, Rein in Spending Instead » The Foundry: Conservative Policy Blog | The Heritage Foundation 15 January 2010 1:23 UTC foundry.heritage.org [Source type: Original source]

^ In fact, with universal healthcare funded through a VAT or income tax, it would probably INCREASE our competitiveness overseas, because healthcare plans would no longer be a component cost of our exports, like they are now.
  • Greenspan: A value-added tax (VAT) may be in the U.S.'s future - BloggingStocks 15 January 2010 1:23 UTC www.bloggingstocks.com [Source type: News]

^ The transitional system is an origin based system for sales to private persons who can go and buy tax paid anywhere they like in the Union and take the goods home without having to pay VAT again.
  • How VAT works - Taxation and Customs Union - European Commission 9 February 2010 17:27 UTC ec.europa.eu [Source type: FILTERED WITH BAYES]

.Because the price for someone rises, the quantity of goods traded decreases.^ To the extent that the value added tax reduces the price of U.S. exports relative to foreign goods and lowers U.S. domestic prices relative to imports, the U.S. balance of trade will be improved.
  • The Value-Added Tax 15 January 2010 1:23 UTC www.heritage.org [Source type: FILTERED WITH BAYES]

^ A VAT cannot be levied on all consumer goods; consequently, prices of taxed goods will rise relative to untaxed goods.
  • CRS Report: IB91078 - Value-Added Tax as a New Revenue Source - NLE 15 January 2010 1:23 UTC cnie.org [Source type: FILTERED WITH BAYES]

^ The destination principle creates a level playing field because imported commodities rise in price by the percentage of the VAT, but exported commodities do not increase in price.
  • CRS Report: IB91078 - Value-Added Tax as a New Revenue Source - NLE 15 January 2010 1:23 UTC cnie.org [Source type: FILTERED WITH BAYES]

.Correspondingly, some people are worse off by more than the government is made better off by tax income.^ Taxes on income, for example, are usually worse for the economy than taxes on consumption.
  • http://blogs.reuters.com/james-pethokoukis/tag/vat/ 9 February 2010 17:27 UTC blogs.reuters.com [Source type: General]

^ I figure the more rich people in the country, the better off we will all be.
  • » A Value-Added Tax Won’t Solve the Deficit Crisis - Big Government 15 January 2010 1:23 UTC biggovernment.com [Source type: Original source]

^ In some countries, government spending is more than 50% of national income.
  • A European-style tax? Get ready for it. - Dec. 2, 2008 9 February 2010 17:27 UTC money.cnn.com [Source type: News]

.That is, more is lost due to supply and demand shifts than is gained in tax.^ Because it is collected in stages along the chain of production, rather than all at the retail level, tax evasion is more difficult.
  • http://blogs.reuters.com/james-pethokoukis/tag/vat/ 9 February 2010 17:27 UTC blogs.reuters.com [Source type: General]

^ An across-the-board consumption tax could make that look pleasant by comparison, since it's more than a sin tax -- it's a tax on virtuous and moral-neutral items as well.
  • FOXNews.com - National Sales Tax Chatter Draws Fierce Opposition 15 January 2010 1:23 UTC www.foxnews.com [Source type: News]

^ This adds to the confusion of the taxpayer (and of the retailer) and makes the tax more expensive to collect than it should have been.
  • VAT (Value Added Tax) in Macedonia 15 January 2010 1:23 UTC samvak.tripod.com [Source type: FILTERED WITH BAYES]

This is known as a deadweight loss. .The income lost by the economy is greater than the government's income; the tax is inefficient.^ Taxes on income, for example, are usually worse for the economy than taxes on consumption.
  • http://blogs.reuters.com/james-pethokoukis/tag/vat/ 9 February 2010 17:27 UTC blogs.reuters.com [Source type: General]

^ That’s why there’s a rising chorus of economists recommending the introduction of a value-added tax, rather than higher income taxes, if our nation decides it wants to support substantially higher government spending.
  • http://blogs.reuters.com/james-pethokoukis/tag/vat/ 9 February 2010 17:27 UTC blogs.reuters.com [Source type: General]

^ Since 50% of consumption is done by the top 20% of incomes, wouldn’t such a burdensome tax reduce their demand and shrink the economy even more?
  • http://blogs.reuters.com/commentaries/2009/09/08/why-the-us-needs-a-value-added-tax/ 15 January 2010 1:23 UTC blogs.reuters.com [Source type: General]

.The entire amount of the government's income (the tax revenue) may not be a deadweight drag, if the tax revenue is used for productive spending or has positive externalities - in other words, governments may do more than simply consume the tax income.^ VAT amounts to more than £1000.

^ Permalink A flat tax taxes lower incomes more than higher incomes.
  • "Financial Transactions Tax" Comes before "Value-Added Tax" | TPMCafe 15 January 2010 1:23 UTC tpmcafe.talkingpointsmemo.com [Source type: FILTERED WITH BAYES]

^ In other words, the tax is added to other taxes.
  • Beware the Value-Added Tax 9 February 2010 17:27 UTC www.heritage.org [Source type: FILTERED WITH BAYES]

.While distortions occur, consumption taxes like VAT are often considered superior because they distort incentives to invest, save and work less than most other types of taxation - in other words, a VAT discourages consumption rather than production.^ They have a VAT tax.
  • Reject the Value-Added Tax, Rein in Spending Instead | The Foundry: Conservative Policy News. 15 January 2010 1:23 UTC blog.heritage.org [Source type: News]
  • Reject the Value-Added Tax, Rein in Spending Instead » The Foundry: Conservative Policy Blog | The Heritage Foundation 15 January 2010 1:23 UTC foundry.heritage.org [Source type: Original source]

^ They don't save because the relative return on savings is higher on savings than on consumption.
  • VAT (Value Added Tax) in Macedonia 15 January 2010 1:23 UTC samvak.tripod.com [Source type: FILTERED WITH BAYES]

^ Most other developed nations do rely more on consumption taxes.
  • CRS Report: IB91078 - Value-Added Tax as a New Revenue Source - NLE 15 January 2010 1:23 UTC cnie.org [Source type: FILTERED WITH BAYES]

A Supply-Demand Analysis of a Taxed Market
In the above diagram,
  • Deadweight loss: the area of the triangle formed by the tax income box, the original supply curve, and the demand curve
  • Governments tax income: the grey rectangle that says "tax"
  • Total consumer surplus after the shift: the green area
  • Total producer surplus after the shift: the yellow area

Criticisms

.The "value-added tax" has been criticized as the burden of it relies on personal end-consumers of products.^ In short, Value added tax is .
  • VAT Tax 9 February 2010 17:27 UTC blog.sabrix.com [Source type: FILTERED WITH BAYES]

^ Commencement day for value added tax.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ Law for value added tax.
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

.Some critics consider it to be a regressive tax, meaning the poor pay more, as a percentage of their income, than the rich.^ They have to report that income and pay taxes on it.
  • A Value Added Tax? Good Idea? Bad? | Slog | The Stranger, Seattle's Only Newspaper 15 January 2010 1:23 UTC slog.thestranger.com [Source type: General]

^ So the rich get a tax cut and the poor get a tax increase.
  • A Value Added Tax? Good Idea? Bad? | Slog | The Stranger, Seattle's Only Newspaper 15 January 2010 1:23 UTC slog.thestranger.com [Source type: General]

^ A: It affects everyone but it is a regressive tax, meaning it imposes a greater burden, percentage-wise, on the poor than the rich.
  • Democrats and Republicans are considering a European-style value-added tax for U.S. | National News - cleveland.com - - cleveland.com 15 January 2010 1:23 UTC www.cleveland.com [Source type: FILTERED WITH BAYES]

.Defenders argue that excising taxation through income is an arbitrary standard, and that the value-added tax is in fact a proportional tax in that people with higher income pay more at the same rate that they consume more.^ A value added tax encourages people to save more.
  • The Time is now For the Value Added Tax | Facing Up 15 January 2010 1:23 UTC www.facingup.org [Source type: FILTERED WITH BAYES]

^ Value Added Tax , ภาษีมูลค่าเพิ่ม .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ Rates of European Value-added Taxes, 1983 and 1985 .
  • The Value-Added Tax: Key to Deficit Reduction? by Mark A. Bloomfield, Charles E. McLure Jr. at Questia Online Library 15 January 2010 1:23 UTC www.questia.com [Source type: Academic]

.The effective progressiveness or regressiveness of a VAT system can also be affected when different classes of goods are taxed at different rates.^ Because of this it is said the VAT is a regressive tax.
  • Can you explain simply what value added tax (VAT) is please? - Yahoo! Answers 15 January 2010 1:23 UTC answers.yahoo.com [Source type: FILTERED WITH BAYES]

^ It is a regressive system and taxes on consumption.
  • Can you explain simply what value added tax (VAT) is please? - Yahoo! Answers 15 January 2010 1:23 UTC answers.yahoo.com [Source type: FILTERED WITH BAYES]

^ Has different VAT rates, for different type of goods .
  • VAT - OFBiz (Open For Business) Project Open Wiki - Apache Software Foundation 9 February 2010 17:27 UTC cwiki.apache.org [Source type: FILTERED WITH BAYES]

.To maintain the progressive nature of total taxes on individuals, countries implementing VAT have reduced income tax on lower income-earners, as well as instituted direct transfer payments to lower-income groups, resulting in lower tax burdens on the poor.^ Implementation of VAT has resulted in discouraging tax fraud and tax evasion.
  • Online VAT Registration. UK Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.vatcentre.com [Source type: General]
  • VAT Registration Online Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.formationshouse.com [Source type: News]

^ Why are VATs associated with higher income tax burdens rather than lower burdens?
  • Beware the Value-Added Tax 9 February 2010 17:27 UTC www.heritage.org [Source type: FILTERED WITH BAYES]

^ Are income taxes eliminated, or at least reduced?
  • Beware the Value-Added Tax 9 February 2010 17:27 UTC www.heritage.org [Source type: FILTERED WITH BAYES]

[4]
.Revenues from a value added tax are frequently lower than expected because they are difficult and costly to administer and collect.^ Value Added Tax , ภาษีมูลค่าเพิ่ม .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ In short, Value added tax is .
  • VAT Tax 9 February 2010 17:27 UTC blog.sabrix.com [Source type: FILTERED WITH BAYES]

^ Conventional Value-added Tax .
  • The Value-Added Tax: Key to Deficit Reduction? by Mark A. Bloomfield, Charles E. McLure Jr. at Questia Online Library 15 January 2010 1:23 UTC www.questia.com [Source type: Academic]

.In many countries, however, where collection of personal income taxes and corporate profit taxes has been historically weak, VAT collection has been more successful than other types of taxes.^ He also found no connection between VAT and changes in corporate (profit) and income taxes.
  • VAT (Value Added Tax) in Macedonia 15 January 2010 1:23 UTC samvak.tripod.com [Source type: FILTERED WITH BAYES]

^ Permalink A flat tax taxes lower incomes more than higher incomes.
  • "Financial Transactions Tax" Comes before "Value-Added Tax" | TPMCafe 15 January 2010 1:23 UTC tpmcafe.talkingpointsmemo.com [Source type: FILTERED WITH BAYES]

^ Law for the corporate income tax levying, other than the ones under item 1.
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

.VAT has become more important in many jurisdictions as tariff levels have fallen worldwide due to trade liberalization, as VAT has essentially replaced lost tariff revenues.^ Today, VAT is the most important source of income in France, accounting for more than 52 percent of the country’s revenues.
  • VAT 101—an Introduction to the Value Added Tax Affecting Relocation Services 15 January 2010 1:23 UTC www.worldwideerc.org [Source type: FILTERED WITH BAYES]

^ If the introduction of VAT is dependant on a GCC-wide agreement it will be even more difficult because many of the countries are yet to start looking at it, Malik said.
  • gulfnews : No value-added tax in UAE until 2010 15 January 2010 1:23 UTC gulfnews.com [Source type: News]

^ Essentially, the main difference between a VAT and the flat tax as developed by Hall and Rabushka is that firms get to deduct wages as a cost under a flat tax, but then those wages are taxed at the household level.
  • http://blogs.reuters.com/james-pethokoukis/tag/vat/ 9 February 2010 17:27 UTC blogs.reuters.com [Source type: General]

.Whether the costs and distortions of value added taxes are lower than the economic inefficiencies and enforcement issues (e.g.^ Is a value added tax regressive?
  • Value-added tax | Business solutions from AllBusiness.com 15 January 2010 1:23 UTC www.allbusiness.com [Source type: News]

^ "Law on amendment of the law on Value added tax."
  • Modelling value-added tax in the presence of multiproduction and differentiated exemptions - Munich RePEc Personal Archive 15 January 2010 1:23 UTC mpra.ub.uni-muenchen.de [Source type: Academic]

^ Liberals eye value-added tax .
  • azcentral.com blogs - Robert Robb - RobertRobb - Liberals eye value-added tax 15 January 2010 1:23 UTC www.azcentral.com [Source type: General]

smuggling) from high import tariffs is debated, but theory suggests value added taxes are far more efficient.
.Certain industries (small-scale services, for example) tend to have more VAT avoidance, particularly where cash transactions predominate, and VAT may be criticized for encouraging this.^ This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.
  • gulfnews : Value added tax is a stable revenue source 15 January 2010 1:23 UTC gulfnews.com [Source type: News]
  • gulfnews : No value-added tax in UAE until 2010 15 January 2010 1:23 UTC gulfnews.com [Source type: News]

^ The rules are different for a B2B transaction than for a B2C. For example, the rules vary from service type to service type when a service is provided to a customer.
  • VAT Tax 9 February 2010 17:27 UTC blog.sabrix.com [Source type: FILTERED WITH BAYES]

^ UK VAT may need to be charged on services performed in the Islands or to clients based in the Islands, depending on the nature of the service supplied.

.From the perspective of government, however, VAT may be preferable because it captures at least some of the value-added.^ Former Federal Reserve Chairman Alan Greenspan said earlier this month that he believed the government will eventually impose some kind of value-added tax, or VAT. While that's far from certain or imminent, the VAT debate is starting to intensify.
  • Democrats and Republicans are considering a European-style value-added tax for U.S. | National News - cleveland.com - - cleveland.com 15 January 2010 1:23 UTC www.cleveland.com [Source type: FILTERED WITH BAYES]

^ Integrating the financial sector into the invoice-credit mechanism of a value-added tax (VAT) is the remaining major outstanding...
  • Value-added tax | Business solutions from AllBusiness.com 15 January 2010 1:23 UTC www.allbusiness.com [Source type: News]

^ The popular argument is the VAT is a relatively painless tax , since consumers may not know the amount of tax they actually...COMPUTING THE VAT As the name implies, a VAT is a tax on the value added at each stage of a products production, distribution or...
  • The Value-Added Tax: Key to Deficit Reduction? by Mark A. Bloomfield, Charles E. McLure Jr. at Questia Online Library 15 January 2010 1:23 UTC www.questia.com [Source type: Academic]

For example, a carpenter may offer to provide services for cash (i.e. without a receipt, and without VAT) to a homeowner, who usually cannot claim input VAT back. .The homeowner will hence bear lower costs and the carpenter may be able to avoid other taxes (profit or payroll taxes).^ Double taxation is avoided and VAT is paid only on the value added at each stage of production and distribution, hence “value added tax.” As it is a consumption tax, the final consumer bears the tax burden and the final price of the product/service is equal to the sum of the values added at each preceding stage.
  • VAT 101—an Introduction to the Value Added Tax Affecting Relocation Services 15 January 2010 1:23 UTC www.worldwideerc.org [Source type: FILTERED WITH BAYES]

^ The VAT is more desirable then your typical sales tax because being neutral makes it so not one person bears the entire cost of the tax.
  • The Time is now For the Value Added Tax | Facing Up 15 January 2010 1:23 UTC www.facingup.org [Source type: FILTERED WITH BAYES]

^ No income, payroll, property, death, gift or any other outrageous tax I can think of.
  • » A Value-Added Tax Won’t Solve the Deficit Crisis - Big Government 15 January 2010 1:23 UTC biggovernment.com [Source type: Original source]

.The government, however, may still receive VAT for various other inputs (lumber, paint, gasoline, tools, etc) sold to the carpenter, who would be unable to reclaim the VAT on these inputs.^ One partial solution would be to exempt staples such as food, gasoline or fuel oil from the VAT and impose extra-high charges on yachts and jewelry.
  • A European-style tax? Get ready for it. - Dec. 2, 2008 9 February 2010 17:27 UTC money.cnn.com [Source type: News]

^ Businesses registered in the VAT Register may deduct the input VAT on the imported goods in their VAT Returns.
  • Bedin - Guide to Value Added Tax 9 February 2010 17:27 UTC www.bedin.no [Source type: FILTERED WITH BAYES]

^ However, the person who has opted for turnover tax can not claim input tax credit under VAT. .
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

.While the total tax receipts may be lower compared to full compliance, it may not be lower than under other feasible taxation systems.^ The main benefit of this is if the tax rate in France is higher than the other country (in which case you gain from paying a lower rate of tax) and the amount of tax involved is sufficient to justify the effort and paperwork of making a claim.

^ Yet, the Member Countries may prescribe for the tax to be caused at the time of the issuing of the respective receipt or at the time of payment for the good or service, whichever occurs first.
  • Andean Community / Decision 599: Harmonization of Substantial and Procedural Aspects of Value Added Type of Taxes 15 January 2010 1:23 UTC www.comunidadandina.org [Source type: FILTERED WITH BAYES]

^ The charging of the tax at import may be done by the importer, if he/she is a registered person and has permission for applying this regime in connection with the realization of investment project under art.
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

.Because exports are generally zero-rated (and VAT refunded or offset against other taxes), this is often where VAT fraud occurs.^ Zero-rating of exported goods.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ Other zero rated goods.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ VAT As from the 1 January 2010, at the same time as the rate of VAT is increased from 15% to 17.5%, the general rule for the place of supply of services for cross-border supplies will also change.

In Europe, the main source of problems is called carousel fraud. .Large quantities of valuable goods (often microchips or mobile phones) are transported from one member state to another.^ Importation of goods from outside the member States .
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ Member State, different from this, in which the transport ends; .
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

^ Acquisition of goods from member States .
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

.During these transactions, some companies owe VAT, others acquire a right to reclaim VAT. The first companies, called 'missing traders' go bankrupt without paying.^ These business promotion schemes are the most common but there are others, and there will be subtle variations which may have different VAT consequences.
  • VAT's happening 9 February 2010 17:27 UTC www.wright.edu [Source type: FILTERED WITH BAYES]

^ Taxable transactions carried out outside Belgium (which would give the right to deduct input VAT if they had been performed in Belgium); 4.

^ [Imposing a VAT] would require both the right and left to give up some of their pet ideas.
  • A Value Added Tax? Good Idea? Bad? | Slog | The Stranger, Seattle's Only Newspaper 15 January 2010 1:23 UTC slog.thestranger.com [Source type: General]

.The second group of companies can 'pump' money straight out of the national treasuries.^ Money should be out of the hands of ordinary citizens and in the hands of government, banks and insurance companies, who know best how to manage them.
  • http://blogs.reuters.com/commentaries/2009/09/08/why-the-us-needs-a-value-added-tax/ 15 January 2010 1:23 UTC blogs.reuters.com [Source type: General]

[citation needed] This kind of fraud originated in the 1970s in the Benelux-countries. Today, the British treasury is a large victim.[5] There are also similar fraud possibilities inside a country. .To avoid this, in some countries like Sweden, the major owner of a limited company is personally responsible for taxes.^ Because of market forces, the rest of the tax ends up back on the owners and the employees of the companies that produce and sell the goods and services subject to the VAT. .
  • Ernest S. Christian and Gary A. Robbins: The Dangers of the Value-Added Tax - WSJ.com 15 January 2010 1:23 UTC online.wsj.com [Source type: General]

^ This tax is also known as "goods and services tax" or GST in some countries, including Australia, Canada, Singapore, New Zealand etc.
  • Online VAT Registration. UK Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.vatcentre.com [Source type: General]
  • VAT Registration Online Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.formationshouse.com [Source type: News]

^ Civil responsibility and like, for the whole or part of the term of the contract, expenses for proprietary taxes and fees, eco-fees and fees for registration; .
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

This is circumvented by having an unemployed person without assets as the formal owner.[citation needed]

VAT systems

European Union

.The European Union Value Added Tax ("EU VAT") is a value added tax encompassing member states in the European Union Value Added Tax Area.^ Turnover Taxes and Value-added Tax Compared .
  • The Value-Added Tax: Key to Deficit Reduction? by Mark A. Bloomfield, Charles E. McLure Jr. at Questia Online Library 15 January 2010 1:23 UTC www.questia.com [Source type: Academic]

^ Scope of VAT on acquisitions from member States.
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ Value added type of taxes will not be produced: .
  • Andean Community / Decision 599: Harmonization of Substantial and Procedural Aspects of Value Added Type of Taxes 15 January 2010 1:23 UTC www.comunidadandina.org [Source type: FILTERED WITH BAYES]

.Joining in this is compulsory for member states of the European Union.^ The following is an example based upon the VAT in effect in the European Union, members of which levy a minimum of 15% VAT. Please pardon it for being horrifically simplistic.
  • What Is a “Value-Added Tax,” Anyway? | Wise Bread 15 January 2010 1:23 UTC www.wisebread.com [Source type: General]

^ Goods bought in other European Community member states .
  • VAT Reclaim and refund for selfbuild houses and renovation projects value added tax. 9 February 2010 17:27 UTC www.selfbuildit.co.uk [Source type: General]

^ Today, the ESL is only used to report goods transactions shipped from one European Union Member State to another (so called dispatch) or received (so called acquisition).
  • VAT Tax 9 February 2010 17:27 UTC blog.sabrix.com [Source type: FILTERED WITH BAYES]

.As a consumption tax, the EU VAT taxes the consumption of goods and services in the EU VAT area.^ Value-Added Tax (VAT) is a tax charged on the private and public consumption of goods and services.

^ VAT, or any consumption tax, IS regressive by definition.
  • Is a Value Added Tax in Your Future? « naked capitalism 15 January 2010 1:23 UTC www.nakedcapitalism.com [Source type: FILTERED WITH BAYES]

^ A VAT is a tax collected on goods and services.
  • Is a value-added tax the answer to U.S. debt? 15 January 2010 1:23 UTC www.walletpop.com [Source type: General]
  • Is a value-added tax the answer to U.S. debt? 15 January 2010 1:23 UTC www.walletpop.com [Source type: General]

.The EU VAT's key issue asks where the supply and consumption occurs thereby determining which member state will collect the VAT and which VAT rate will be charged.^ But if your customer is registered for VAT, it is treated as supplied in the EU State that issued the customer’s VAT number.
  • Value-Added Tax / 2008 / Summary 15 January 2010 1:23 UTC www.taxworld.ie [Source type: FILTERED WITH BAYES]
  • Value-Added Tax / 2007 / Summary 15 January 2010 1:23 UTC www.taxworld.ie [Source type: FILTERED WITH BAYES]

^ Scope of VAT on acquisitions from member States.
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ VAT, issued by the other Member State; .
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

.Each Member State's national VAT legislation must comply with the provisions of EU VAT law as set out in Directive 2006/112/EC. This Directive sets out the basic framework for EU VAT, but does allow Member States some degree of flexibility in implementation of VAT legislation.^ Scope of VAT on acquisitions from member States.
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ EU member states.
  • Ubercart European VAT Compatibility | Ubercart 9 February 2010 17:27 UTC www.ubercart.org [Source type: General]

^ VAT in another EU State, and .
  • Value-Added Tax / 2008 / Summary 15 January 2010 1:23 UTC www.taxworld.ie [Source type: FILTERED WITH BAYES]

.For example different rates of VAT are allowed in different EU member states.^ The determination of VAT rates and exempt supplies, for example, largely depend on the Member States.
  • Value Added Taxation of Electronic Supply of Services 15 January 2010 1:23 UTC centers.law.nyu.edu [Source type: FILTERED WITH BAYES]

^ VAT, issued by the other Member State; .
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

^ Member State, different from this, in which the transport ends; .
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

.However Directive 2006/112 requires Member states to have a minimum standard rate of VAT of 15% and one or two reduced rates not to be below 5%.^ The standard VAT rate is 21%.

^ The standard rate of VAT in the EU is set at a minimum of 15 percent, and a maximum of 25 percent.
  • VAT 101—an Introduction to the Value Added Tax Affecting Relocation Services 15 January 2010 1:23 UTC www.worldwideerc.org [Source type: FILTERED WITH BAYES]

^ Apart from the standard rate Member States may apply either one or two reduced rates in line of their social and cultural policy.
  • Value Added Taxation of Electronic Supply of Services 15 January 2010 1:23 UTC centers.law.nyu.edu [Source type: FILTERED WITH BAYES]

.Some Member States have a 0% VAT rate on certain supplies- these Member States would have agreed this as part of their EU Accession Treaty (for example, newspapers and certain magazines in Belgium).^ Scope of VAT on acquisitions from member States.
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ VAT, issued by the other Member State; .
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

^ VAT in other Member State.
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

.The current maximum rate in operation in the EU is 25%, though member states are free to set higher rates.^ EU member states.
  • Ubercart European VAT Compatibility | Ubercart 9 February 2010 17:27 UTC www.ubercart.org [Source type: General]

^ The standard rate of VAT in the EU is set at a minimum of 15 percent, and a maximum of 25 percent.
  • VAT 101—an Introduction to the Value Added Tax Affecting Relocation Services 15 January 2010 1:23 UTC www.worldwideerc.org [Source type: FILTERED WITH BAYES]

^ The broad autonomy of Member States in setting the VAT rates leads to the fragmentation of the internal market.
  • Value Added Taxation of Electronic Supply of Services 15 January 2010 1:23 UTC centers.law.nyu.edu [Source type: FILTERED WITH BAYES]

.VAT that is charged by a business and paid by its customers is known as "output VAT" (that is, VAT on its output supplies).^ Throughout the supply chain, VAT is paid.
  • VAT Tax 9 February 2010 17:27 UTC blog.sabrix.com [Source type: FILTERED WITH BAYES]

^ Each business pays VAT on goods and services acquired for the business and charges VAT on goods and services supplied by the business.
  • VAT Tax 9 February 2010 17:27 UTC blog.sabrix.com [Source type: FILTERED WITH BAYES]

^ INPUT VAT is paid by a business to another businesses on the supplies that it receives (in this case it is, VAT on its input supplies).
  • Online VAT Registration. UK Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.vatcentre.com [Source type: General]

.VAT that is paid by a business to other businesses on the supplies that it receives is known as "input VAT" (that is, VAT on its input supplies).^ Throughout the supply chain, VAT is paid.
  • VAT Tax 9 February 2010 17:27 UTC blog.sabrix.com [Source type: FILTERED WITH BAYES]

^ INPUT VAT is paid by a business to another businesses on the supplies that it receives (in this case it is, VAT on its input supplies).
  • Online VAT Registration. UK Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.vatcentre.com [Source type: General]
  • VAT Registration Online Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.formationshouse.com [Source type: News]

^ Output VAT Input VAT OUTPUT VAT is charged by a business and is paid by its customers.
  • Online VAT Registration. UK Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.vatcentre.com [Source type: General]
  • VAT Registration Online Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.formationshouse.com [Source type: News]

.A business is generally able to recover input VAT to the extent that the input VAT is attributable to (that is, used to make) its taxable outputs.^ In general, the following input VAT is deductible: .

^ Generally a business is able to recover its input VAT to the extent that the input VAT is attributable to its taxable outputs.
  • Online VAT Registration. UK Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.vatcentre.com [Source type: General]
  • VAT Registration Online Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.formationshouse.com [Source type: News]

^ In general, the following input VAT is not deductible: .

.Input VAT is recovered by setting it against the output VAT for which the business is required to account to the government, or, if there is an excess, by claiming a repayment from the government.^ Repayment of VAT to those in business overseas.
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ Generally a business is able to recover its input VAT to the extent that the input VAT is attributable to its taxable outputs.
  • Online VAT Registration. UK Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.vatcentre.com [Source type: General]
  • VAT Registration Online Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.formationshouse.com [Source type: News]

^ Input VAT is claimed by setting it against the output VAT for which the business is required to account to the government, or, if there is an excess, by claiming a repayment from the government.
  • Online VAT Registration. UK Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.vatcentre.com [Source type: General]
  • VAT Registration Online Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.formationshouse.com [Source type: News]

.The VAT Directive (prior to 1 January 2007 referred to as the Sixth VAT Directive) requires certain goods and services to be exempt from VAT (for example, postal services, medical care, lending, insurance, betting), and certain other goods and services to be exempt from VAT but subject to the ability of an EU member state to opt to charge VAT on those supplies (such as land and certain financial services).^ Purchases subject to VAT (exclusive of VAT) - on goods other than capital goods .
  • Bureau of Internal Revenue Website 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: FILTERED WITH BAYES]

^ An example are the private medical service providers.
  • Ubercart European VAT Compatibility | Ubercart 9 February 2010 17:27 UTC www.ubercart.org [Source type: General]

^ Essentially, prior to this Directive non-EU-based companies providing electronic services to EU customers had an advantage in that they were not required to charge those customers VAT: .
  • Linden Lab Official:Value Added Tax (VAT) Frequently Asked Questions - Second Life Wiki 15 January 2010 1:23 UTC wiki.secondlife.com [Source type: FILTERED WITH BAYES]

.Input VAT that is attributable to exempt supplies is not recoverable, although a business can increase its prices so the customer effectively bears the cost of the 'sticking' VAT (the effective rate will be lower than the headline rate and depend on the balance between previously taxed input and labour at the exempt stage).^ The first stage identifies the input VAT that can be directly allocated to taxable and to exempt supplies.

^ Input tax directly related to the making of exempt supplies is generally not recoverable.

^ Multiple VAT rates alter relative prices of taxed goods.
  • CRS Report: IB91078 - Value-Added Tax as a New Revenue Source - NLE 15 January 2010 1:23 UTC cnie.org [Source type: FILTERED WITH BAYES]

The Nordic countries

.MOMS (Danish: merværdiafgift, formerly meromsætningsafgift), Norwegian: merverdiavgift (bokmål) or meirverdiavgift (nynorsk) (abbreviated MVA), Swedish: mervärdesskatt (earlier mervärdesomsättningsskatt), Icelandic: virðisaukaskattur (abbreviated VSK) or Finnish: arvonlisävero (abbreviated ALV) are the Nordic terms for VAT.^ The VAT Act in Norwegian Lov om merverdiavgift, amended 01.07.07 Note that there are specific provisions regulating the reduced VAT rate on foodstuff.
  • Bedin - Guide to Value Added Tax 9 February 2010 17:27 UTC www.bedin.no [Source type: FILTERED WITH BAYES]

^ These are given in Forskrift om redusert merverdiavgifts-sats for nringsmidler (in Norwegian only).
  • Bedin - Guide to Value Added Tax 9 February 2010 17:27 UTC www.bedin.no [Source type: FILTERED WITH BAYES]

.Like other countries' sales and VAT taxes, it is an indirect tax.^ It isn't like sales tax is a secret.
  • Value-Added-Taxes in Europe Average 19.8% | Europe Forum | Fodor's Travel Talk Forums 15 January 2010 1:23 UTC www.fodors.com [Source type: General]

^ VAT, like all sales taxes, is particularly regressive.
  • Is a Value Added Tax in Your Future? « naked capitalism 15 January 2010 1:23 UTC www.nakedcapitalism.com [Source type: FILTERED WITH BAYES]

^ Use tax is like the other half of sales tax.
  • Value Added Tax 15 January 2010 1:23 UTC blog.sabrix.com [Source type: General]

.In Denmark, VAT is generally applied at one rate, and with few exceptions is not split into two or more rates as in other countries (e.g.^ Furthermore, most nations with VATs have more than one rate.
  • CRS Report: IB91078 - Value-Added Tax as a New Revenue Source - NLE 15 January 2010 1:23 UTC cnie.org [Source type: FILTERED WITH BAYES]

^ The appropriate VAT rate is then applied to this figure.
  • VAT's happening 9 February 2010 17:27 UTC www.wright.edu [Source type: FILTERED WITH BAYES]

^ If that country is in the EU, then VAT is applied.
  • Linden Lab Official:Value Added Tax (VAT) Frequently Asked Questions - Second Life Wiki 15 January 2010 1:23 UTC wiki.secondlife.com [Source type: FILTERED WITH BAYES]

.Germany), where reduced rates apply to essential goods such as e.g., foodstuffs.^ Legislation will be introduced to counter schemes which purport to apply the 15% VAT rate to goods or services to be supplied on or after the date that the rate returns to 17.5%.

^ The VAT Act in Norwegian Lov om merverdiavgift, amended 01.07.07 Note that there are specific provisions regulating the reduced VAT rate on foodstuff.
  • Bedin - Guide to Value Added Tax 9 February 2010 17:27 UTC www.bedin.no [Source type: FILTERED WITH BAYES]

^ Reduced VAT Rate Sale of foodstuff is eligible to a VAT rate of 14 per cent.
  • Bedin - Guide to Value Added Tax 9 February 2010 17:27 UTC www.bedin.no [Source type: FILTERED WITH BAYES]

.The current standard rate of VAT in Denmark is 25%.^ In Hungary, the VAT rate is currently 20%.
  • What Is a “Value-Added Tax,” Anyway? | Wise Bread 15 January 2010 1:23 UTC www.wisebread.com [Source type: General]

^ The standard VAT rate is 21%.

^ Current VAT rates .
  • Value-Added Tax / 2008 / Summary 15 January 2010 1:23 UTC www.taxworld.ie [Source type: FILTERED WITH BAYES]
  • Value-Added Tax / 2007 / Summary 15 January 2010 1:23 UTC www.taxworld.ie [Source type: FILTERED WITH BAYES]

.That makes Denmark one of the countries with the highest value added tax, alongside Norway and Sweden.^ Value Added Tax Act 1994 .
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ In short, Value added tax is .
  • VAT Tax 9 February 2010 17:27 UTC blog.sabrix.com [Source type: FILTERED WITH BAYES]

^ Conventional Value-added Tax .
  • The Value-Added Tax: Key to Deficit Reduction? by Mark A. Bloomfield, Charles E. McLure Jr. at Questia Online Library 15 January 2010 1:23 UTC www.questia.com [Source type: Academic]

.A number of services are not taxable, for instance public transportation of private persons, health care services, publishing newspapers, rent of premises (the lessor can, though, voluntarily register as VAT payer, except for residential premises), and travel agency operations.^ Refund of VAT to non-registered foreign taxable persons .

^ How do I register voluntarily for VAT? .
  • Online VAT Registration. UK Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.vatcentre.com [Source type: General]
  • VAT Registration Online Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.formationshouse.com [Source type: News]

^ If we had a true "public option," single payer health care system that was funded in part by a VAT, I'm not sure it would be entirely "regressive," because wealthier people consume more and would be subsidizing the health care of the poorer.
  • Beat the Press Archive | The American Prospect 15 January 2010 1:23 UTC www.prospect.org [Source type: FILTERED WITH BAYES]

.In Finland, the standard rate of VAT is 22%, but will rise by one percentage point to 23% in July 2010, along with all other VAT rates, excluding the zero rate [6].^ The standard VAT rate is 21%.

^ Other zero rated goods.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ VAT on purchases, standard rate.
  • Bedin - Guide to Value Added Tax 9 February 2010 17:27 UTC www.bedin.no [Source type: FILTERED WITH BAYES]

.In addition, two reduced rates are in use: 12% (reduced in October 2009 from 17% for non-restaurant food, from July 2010 will encompass restaurant food also), which is applied on food and animal feed, and 8%, which is applied on passenger transportation services, cinema performances, physical exercise services, books, pharmaceuticals, entrance fees to commercial cultural and entertainment events and facilities.^ The following rules will apply to transport services: .
  • Andean Community / Decision 599: Harmonization of Substantial and Procedural Aspects of Value Added Type of Taxes 15 January 2010 1:23 UTC www.comunidadandina.org [Source type: FILTERED WITH BAYES]

^ Passenger transport services.
  • Bedin - Guide to Value Added Tax 9 February 2010 17:27 UTC www.bedin.no [Source type: FILTERED WITH BAYES]

^ Legislation will be introduced to counter schemes which purport to apply the 15% VAT rate to goods or services to be supplied on or after the date that the rate returns to 17.5%.

.Supplies of some goods and services are exempt under the conditions defined in the Finnish VAT Act: hospital and medical care; social welfare services; educational, financial and insurance services; lotteries and money games; transactions concerning bank notes and coins used as legal tender; real property including building land; certain transactions carried out by blind persons and interpretation services for deaf persons.^ The goods and services under par.
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

^ Services exempted from VAT The following services are exempted from the VAT eligibility.
  • Bedin - Guide to Value Added Tax 9 February 2010 17:27 UTC www.bedin.no [Source type: FILTERED WITH BAYES]

^ Supply of services means any other transaction not constituting a supply of goods.
  • Value Added Taxation of Electronic Supply of Services 15 January 2010 1:23 UTC centers.law.nyu.edu [Source type: FILTERED WITH BAYES]

.The seller of these tax-exempt services or goods is not subject to VAT and does not pay tax on sales.^ Services exempted from VAT The following services are exempted from the VAT eligibility.
  • Bedin - Guide to Value Added Tax 9 February 2010 17:27 UTC www.bedin.no [Source type: FILTERED WITH BAYES]

^ Output Tax (VAT on Sales subject to 12%) .
  • Bureau of Internal Revenue Website 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: FILTERED WITH BAYES]

^ Why VAT replaced turnover tax Turnover tax is levied on gross turnover from sales of goods and services.
  • VAT's happening 9 February 2010 17:27 UTC www.wright.edu [Source type: FILTERED WITH BAYES]

.Such sellers therefore may not deduct VAT included in the purchase prices of his inputs.^ VAT. The input VAT is fully deductible.
  • Bedin - Guide to Value Added Tax 9 February 2010 17:27 UTC www.bedin.no [Source type: FILTERED WITH BAYES]

^ In general, the following input VAT is deductible: .

^ In general, the following input VAT is not deductible: .

.In Iceland, VAT is split into two levels: 24.5% for most goods and services but 7% for certain goods and services.^ VAT is a tax on the final consumption of certain goods and services.
  • Online VAT Registration. UK Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.vatcentre.com [Source type: General]
  • VAT Registration Online Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.formationshouse.com [Source type: News]

^ VAT & GST? goods and services tax .
  • Online VAT Registration. UK Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.vatcentre.com [Source type: General]
  • VAT Registration Online Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.formationshouse.com [Source type: News]

^ The key feature of VAT is that it is not designed to be a cost to business, but rather the cost is borne by the ultimate end consumer of the goods or services.
  • gulfnews : Value added tax is a stable revenue source 15 January 2010 1:23 UTC gulfnews.com [Source type: News]

.The 7% level is applied for hotel and guesthouse stays, licence fees for radio stations (namely RÚV), newspapers and magazines, books; hot water, electricity and oil for heating houses, food for human consumption (but not alcoholic beverages), access to toll roads and music.^ Medicines Water from water utilities Tobacco products Alcoholic beverage Goods that are not defined as ordinary foodstuff or drinks, are taxed at the standard rate of 25 per cent, unless the seller knows for a fact that they will be used for human consumption.
  • Bedin - Guide to Value Added Tax 9 February 2010 17:27 UTC www.bedin.no [Source type: FILTERED WITH BAYES]

^ Good in the sense of this law shall also be: the electric energy, the gas, the water and the heat energy.
  • LAW FOR VALUE ADDED TAX 15 January 2010 1:23 UTC www.bcnl.org [Source type: Original source]

^ Aid workers fear for safety January 14, 2010 International aid workers scrambling to get into Haiti face a series of obstacles, from an airport that is already overwhelmed to blocked roads and a lack of communication, electricity, food and water.

.In Norway, VAT is split into three levels: 25% is the general VAT, 14% (formerly 13%, up on January 1, 2007) for foods and restaurant take-out (food eaten in a restaurant has 25%), 8% for person transport, movie tickets, and hotel stays.^ Contract manufacturers and the split-up of business firms into separate legal entities such as manufacturers, packagers, and selling agencies generally would not present an administrative problem under the net value added tax.
  • Federal Tax on Net Value Added 15 January 2010 1:23 UTC www.taxhistory.org [Source type: FILTERED WITH BAYES]

^ The reduced rate applies to heating costs, printed matter, restaurant bills, hotel stays, and most food.
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ This law shall enter into force from the day of its promulgation in the State Gazette, except for § 35, which shall enter into force from 1 January 2007.
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

.Books and newspapers are free of VAT, while magazines and periodicals with a less than 80% subscription rate are taxed.^ Q.12 What are the rates of tax under VAT? .
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ He could also increase the income tax on "the rich," saying that they and the middle class get a nearly free ride under the VAT compared to less affluent people who must spend everything on purchasing "taxable" essentials.
  • Ernest S. Christian and Gary A. Robbins: The Dangers of the Value-Added Tax - WSJ.com 15 January 2010 1:23 UTC online.wsj.com [Source type: General]

^ After all, he’s “Changing” America into what western Europe is and they have a VAT. Soon, we can expect a total tax rate (income, VAT, Cap & Trade et al.
  • Out of Money? Value-Added Tax Next Up | The Foundry: Conservative Policy News. 15 January 2010 1:23 UTC blog.heritage.org [Source type: FILTERED WITH BAYES]

.Svalbard has no VAT because of a clause in the Svalbard Treaty.^ VAT = 0 (because there is no value add) and not 8.5% of the sales price - have exempted products of daily consumption from VAT, such as food, personal care products etc.
  • http://blogs.reuters.com/commentaries/2009/09/08/why-the-us-needs-a-value-added-tax/ 15 January 2010 1:23 UTC blogs.reuters.com [Source type: General]

^ A VAT is by its nature hidden, because no one files a tax return.
  • Ernest S. Christian and Gary A. Robbins: The Dangers of the Value-Added Tax - WSJ.com 15 January 2010 1:23 UTC online.wsj.com [Source type: General]

^ This is not acceptable, because there are clients with no VAT-ID. .
  • Ubercart European VAT Compatibility | Ubercart 9 February 2010 17:27 UTC www.ubercart.org [Source type: General]

Cultural events are excluded from VAT.
.In Sweden, VAT is split into three levels: 25% for most goods and services including restaurants bills, 12% for foods (incl.^ VAT & GST? goods and services tax .
  • Online VAT Registration. UK Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax 9 February 2010 17:27 UTC www.vatcentre.com [Source type: General]

^ Value Added Tax (VAT) is a general consumption tax assessed on the value added to goods and services.It is a general tax that applies, in principle, to all commercial activities involving the production and distribution of goods and the provision of services.
  • The Time is now For the Value Added Tax | Facing Up 15 January 2010 1:23 UTC www.facingup.org [Source type: FILTERED WITH BAYES]

^ Because of market forces, the rest of the tax ends up back on the owners and the employees of the companies that produce and sell the goods and services subject to the VAT. .
  • Ernest S. Christian and Gary A. Robbins: The Dangers of the Value-Added Tax - WSJ.com 15 January 2010 1:23 UTC online.wsj.com [Source type: General]

bring home from restaurants) and hotel stays .(but breakfast at 25%) and 6% for printed matter, cultural services, and transport of private persons.^ The rules are different for cultural events, passenger transport, services related to immovable property, car rentals, restaurants or other services.
  • VAT Tax 9 February 2010 17:27 UTC blog.sabrix.com [Source type: FILTERED WITH BAYES]

^ If you deliver “service products” in the EU you must calculate VAT to private persons.
  • VAT - EU Business customers do not have to be charged - Topic Powered by Infopop 9 February 2010 17:27 UTC forums.regnow.com [Source type: General]

^ The simplified invoice shall be a written private document issued by a registered person - provider of goods and services, for occurred tax event for which no tax shall be calculated.
  • LAW FOR VALUE ADDED TAX 15 January 2010 1:23 UTC www.bcnl.org [Source type: Original source]

.Some services are not taxable for example education of children and adults if public utility, and health and dental care, but education is taxable at 25% in case of courses for adults at a private school.^ An example are the private medical service providers.
  • Ubercart European VAT Compatibility | Ubercart 9 February 2010 17:27 UTC www.ubercart.org [Source type: General]

^ Educational services (teaching in schools and educational institutions, recreational oriented teaching and driving instructions).
  • Bedin - Guide to Value Added Tax 9 February 2010 17:27 UTC www.bedin.no [Source type: FILTERED WITH BAYES]

^ Educational services rendered by private educational institutions, duly accredited by the Dept.
  • Bureau of Internal Revenue Website 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: FILTERED WITH BAYES]

.Dance events (for the guests) have 25%, concerts and stage shows have 6%, and some types of cultural events have 0%.^ About 90 percent of Koelnmesse's events are in Cologne, but the company also organizes some in Asia and is launching its first U.S. show in February.
  • Value-added Tax: Reclaiming Extra Costs - 10/1/2007 - Tradeshow Week 15 January 2010 1:23 UTC www.tradeshowweek.com [Source type: FILTERED WITH BAYES]

.MOMS replaced OMS (Danish "omsætningsafgift", Swedish "omsättningsskatt") in 1967, which was a tax applied exclusively for retailers.^ Under Washington law, if you have purchased an item outside of Washington and paid a retail sales tax or use tax on the property, that tax can be applied as a credit against the Washington use tax that is owed.
  • VAT Tax 9 February 2010 17:27 UTC blog.sabrix.com [Source type: FILTERED WITH BAYES]

^ Replaces the individual and corporate income taxes, the estate and gift taxes, and most existing excise taxes with a 15% national retail sales tax.
  • CRS Report: IB91078 - Value-Added Tax as a New Revenue Source - NLE 15 January 2010 1:23 UTC cnie.org [Source type: FILTERED WITH BAYES]

^ Repeals the individual income tax, the corporate income tax, all payroll taxes, the self-employment tax, and the estate and gift taxes and levies a 23% national retail sales tax as a replacement.
  • CRS Report: IB91078 - Value-Added Tax as a New Revenue Source - NLE 15 January 2010 1:23 UTC cnie.org [Source type: FILTERED WITH BAYES]

Year Tax level (Denmark) Name
1962 9% OMS
1967 10% MOMS
1968 12.5% MOMS
1970 15% MOMS
1977 18% MOMS
1978 20.25% MOMS
1980 22% MOMS
1992 25% MOMS

India

.In India, VAT replaced sales tax on 1 April 2005. Of the 28 Indian states, eight did not introduce VAT. Haryana had already adopted it on 1 April 2004. Due to the federal nature of the Indian constitution, the states do have the power to set their own VAT rate.^ VAT is a replacement for Sales Tax and a slice of Income Tax.
  • http://blogs.reuters.com/commentaries/2009/09/08/why-the-us-needs-a-value-added-tax/ 15 January 2010 1:23 UTC blogs.reuters.com [Source type: General]

^ VAT would be in addition to the federal tax.
  • Reject the Value-Added Tax, Rein in Spending Instead | The Foundry: Conservative Policy News. 15 January 2010 1:23 UTC blog.heritage.org [Source type: News]
  • Reject the Value-Added Tax, Rein in Spending Instead » The Foundry: Conservative Policy Blog | The Heritage Foundation 15 January 2010 1:23 UTC foundry.heritage.org [Source type: Original source]

^ The VAT is better then a sales tax because the VAT is already included in the product.
  • The Time is now For the Value Added Tax | Facing Up 15 January 2010 1:23 UTC www.facingup.org [Source type: FILTERED WITH BAYES]

.OECD (2008, 112-13) approvingly cites Chanchal Kumar Sharma (2005) to answer why it has proved so difficult to implement a federal VAT in India.^ Note 5 : VAT is not implemented in 2 of India's 28 states.
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ It is far more likely that a VAT would be implemented in addi­tion to the income tax—which is precisely why it is such a bad idea.
  • Beware the Value-Added Tax 9 February 2010 17:27 UTC www.heritage.org [Source type: FILTERED WITH BAYES]

^ INDIA · VAT 13.5% .
  • VAT & Duty Rates | Corporation For International Business 9 February 2010 17:27 UTC www.atacarnet.com [Source type: FILTERED WITH BAYES]

The book says:
."Although the implementation of broad-base federal VAT system has been considered as the most desirable consumption tax for India since the early 1990s, such a reform would involve serious problems for the finances of regional governments.^ As a consumption tax the VAT is applied to a base consisting of personal expenditure.
  • Value Added Taxation of Electronic Supply of Services 15 January 2010 1:23 UTC centers.law.nyu.edu [Source type: FILTERED WITH BAYES]

^ The bigger problem would be having both income & VAT taxes.
  • Is a Value Added Tax in Your Future? « naked capitalism 15 January 2010 1:23 UTC www.nakedcapitalism.com [Source type: FILTERED WITH BAYES]

^ VAT would be in addition to the federal tax.
  • Reject the Value-Added Tax, Rein in Spending Instead » The Foundry: Conservative Policy Blog | The Heritage Foundation 15 January 2010 1:23 UTC foundry.heritage.org [Source type: Original source]

.In addition, implementing VAT in India in context of current economic reforms would have paradoxical dimensions for Indian federalism.^ VAT would be in addition to the federal tax.
  • Reject the Value-Added Tax, Rein in Spending Instead | The Foundry: Conservative Policy News. 15 January 2010 1:23 UTC blog.heritage.org [Source type: News]
  • Reject the Value-Added Tax, Rein in Spending Instead » The Foundry: Conservative Policy Blog | The Heritage Foundation 15 January 2010 1:23 UTC foundry.heritage.org [Source type: Original source]

^ Note 5 : VAT is not implemented in 2 of India's 28 states.
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ The VAT would also undermine entitlement reform because politicians could gradually increase the tax to finance promised benefits.
  • Beware the Value-Added Tax 9 February 2010 17:27 UTC www.heritage.org [Source type: FILTERED WITH BAYES]

.On one hand economic reforms have led to decentralization of expenditure responsibilities, which in turn demands more decentralization of revenue raising power if fiscal accountability is to be maintained.^ And Gawd knows we need to raise more revenue in this country for the (improved) services we are and will be voting ourselves.
  • Is a Value Added Tax in Your Future? « naked capitalism 15 January 2010 1:23 UTC www.nakedcapitalism.com [Source type: FILTERED WITH BAYES]

^ If an inspector or other authorised Revenue officer believes that you have underpaid VAT for one or more VAT periods, he may make an assessment of the VAT underpaid ( s 23 ).
  • Value-Added Tax / 2007 / Summary 15 January 2010 1:23 UTC www.taxworld.ie [Source type: FILTERED WITH BAYES]

^ Richard Kline says: July 15, 2009 at 6:31 am Obama has no desire for revenue reform to be raised as an issue until after the expiry of his second administration.
  • Is a Value Added Tax in Your Future? « naked capitalism 15 January 2010 1:23 UTC www.nakedcapitalism.com [Source type: FILTERED WITH BAYES]

On the other hand, implementing VAT (to make India a single integrated market) would lead to revenue losses for the States and reduce their autonomy indicating greater centralization" (Sharma, 2005, as quoted in OECD, 2008, 112-13) [1]
.Chanchal Kumar Sharma (2005:929) asserts: "political compulsions have led the government to propose an imperfect model of VAT" 'Indian VAT system is imperfect' to the extent it 'goes against the basic premise of VAT'. India seems to have an 'essenceless VAT' because the very reasons for which VAT receives academic support have been disregarded by the VAT-Indian Style, namely: removal of the distortions in movement of goods across states; Uniformity in tax structure.^ VAT is a very good redistribution mechanism for the proceeds of a carbon tax.
  • Is a Value Added Tax in Your Future? « naked capitalism 15 January 2010 1:23 UTC www.nakedcapitalism.com [Source type: FILTERED WITH BAYES]

^ It goes on to state that the Department of Revenue is to construe tax exemptions narrowly and if the Legislature had wanted to include the VAT within the scope of the use tax credit provisions, it could have done so.
  • VAT Tax 9 February 2010 17:27 UTC blog.sabrix.com [Source type: FILTERED WITH BAYES]

^ Pelosi argued that the VAT would level the playing field between U.S. and foreign manufacturers, the latter of which do not have pension and healthcare costs included in the price of their goods because their governments provide those services, financed by similar taxes.
  • Pelosi says new tax is 'on the table' - The Hill's Blog Briefing Room 9 February 2010 17:27 UTC thehill.com [Source type: News]

.Chanchal Kumar Sharma (2005:929) clearly states, "Local or state level taxes like octroi, entry tax, lease tax, workers contract tax, entertainment tax and luxury tax are not integrated into the new regime, which goes against the basic premise of VAT, which is to have uniformity in the tax structure.^ Permalink Sounds more like a luxury tax than a VAT --- .
  • "Financial Transactions Tax" Comes before "Value-Added Tax" | TPMCafe 15 January 2010 1:23 UTC tpmcafe.talkingpointsmemo.com [Source type: FILTERED WITH BAYES]

^ A structure representing a VAT symbol entry.

^ If any such question arises from any order already passed under this Act or under the Delhi Sales Tax Act, 1975 (43 of 1975) or the Delhi Sales Tax on Works Contract Act, 1999 (Delhi Act 9 of 1999) or the Delhi Tax on Entry of Motor Vehicles into Local areas Act, 1994 (Delhi Act 4 of 1995), as then in force in Delhi, no such question shall be entertained for determination under this section but such question may be raised in an objection or appeal against such order.
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

.The fact that no tax credit will be allowed for inter-state trade seriously undermines the basic benefit of enforcing a VAT system, namely the removal of the distortions in movement of goods across the states."^ For the removal of doubt, no tax credit shall be allowed for - .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ No tax credit shall be allowed .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ Unlike the Lagos State Consumption Tax which is solely for the benefit of the Lagos State Government, VAT is administered by the Federal Government of Nigeria Agency, the Federal Board of Inland Revenue (FBIR), with the proceeds of VAT being distributed under an agreed formular by the 36 States of the Federation of Nigeria.
  • Value Added Tax vs. Lagos State Consumption Tax Law 15 January 2010 1:23 UTC www.businessdayonline.com [Source type: Original source]

"Even the most essential prerequisite for success of VAT i.e. elimination of [Central sales tax (CST)] has been deferred. .CST is levied on basis of origin and collected by the exporting state; the consumers of the importing state bear its incidence.^ If under an international treaty of the Russian Federation both the customs control and customs clearance of goods moved across the customs border the Russian Federation are cancelled, the tax authorities of the Russian Federation shall collect the tax levied on goods originating in such a state and imported to the territory of the Russian Federation.

^ The Taxes and Levies (Approved List for Collection) Act, 1998 also does not accommodate State Governments enacting for their own States, a separate Consumption Tax.
  • Value Added Tax vs. Lagos State Consumption Tax Law 15 January 2010 1:23 UTC www.businessdayonline.com [Source type: Original source]

^ As long as CST continues no VAT on inter-state sale shall be levied and the Central Statutory Form i.e Form-C, Form-D, Form-F, Form-H will continue.
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

.CST creates tax barriers to integrate the Indian market and leads to cascading impact on cost of production.^ Even without protectionist intentions the existence of significant differences between tax regimes of the Member States has the potential to hinder the creation of the internal market.
  • Value Added Taxation of Electronic Supply of Services 15 January 2010 1:23 UTC centers.law.nyu.edu [Source type: FILTERED WITH BAYES]

^ In case of not granting input credit to the importer, imported products will become more expensive following from the tax cascading.
  • Value Added Taxation of Electronic Supply of Services 15 January 2010 1:23 UTC centers.law.nyu.edu [Source type: FILTERED WITH BAYES]

^ This practice leads to serious price distortions or to the vertical integration of businesses to avoid accumulation of tax through several stages of sale.
  • Value Added Taxation of Electronic Supply of Services 15 January 2010 1:23 UTC centers.law.nyu.edu [Source type: FILTERED WITH BAYES]

.Further, the denial of input tax credit on inter-state sales and inter state transfers would affect free flow of goods."^ From what I have read, this tax would indeed be in addition to state/local sales taxes.
  • What Is a “Value-Added Tax,” Anyway? | Wise Bread 15 January 2010 1:23 UTC www.wisebread.com [Source type: General]

^ By VAT dealer for the sale of tax-free goods.
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ Input tax credit Rs.
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

(Sharma,2005:922)
.The greatest challenge in India, asserts Sharma (2005) is to design a sales tax system that will provide autonomy to subnational levels to fix tax rate, without compromising efficiency or creating enforcement problems.^ The size of tax base comparisons between the net value added tax and manufacturers' and wholesalers' sales taxes (to be found below) are a partial answer to the tax rate issue.
  • Federal Tax on Net Value Added 15 January 2010 1:23 UTC www.taxhistory.org [Source type: FILTERED WITH BAYES]

^ PROVIDED FURTHER that not more than one tax invoice shall be issued for each sale: .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ They must be used in transactions on which value added type of tax must be paid, or in transactions subject to the zero rate system.
  • Andean Community / Decision 599: Harmonization of Substantial and Procedural Aspects of Value Added Type of Taxes 15 January 2010 1:23 UTC www.comunidadandina.org [Source type: FILTERED WITH BAYES]

The Andhra Pradesh experience

.In the Indian state of Andhra Pradesh, the Andhra Pradesh Value Added Tax Act, 2005 came into force on 1 April 2005 and contains six schedules.^ Value Added Tax , ภาษีมูลค่าเพิ่ม .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ Conventional Value-added Tax .
  • The Value-Added Tax: Key to Deficit Reduction? by Mark A. Bloomfield, Charles E. McLure Jr. at Questia Online Library 15 January 2010 1:23 UTC www.questia.com [Source type: Academic]

^ Turnover Taxes and Value-added Tax Compared .
  • The Value-Added Tax: Key to Deficit Reduction? by Mark A. Bloomfield, Charles E. McLure Jr. at Questia Online Library 15 January 2010 1:23 UTC www.questia.com [Source type: Academic]

.Schedule I contains goods generally exempted from tax.^ Import of goods exempt from tax Art.
  • LAW FOR VALUE ADDED TAX 15 January 2010 1:23 UTC www.bcnl.org [Source type: Original source]

^ Value Added Tax (VAT) is a general consumption tax assessed on the value added to goods and services.It is a general tax that applies, in principle, to all commercial activities involving the production and distribution of goods and the provision of services.
  • The Time is now For the Value Added Tax | Facing Up 15 January 2010 1:23 UTC www.facingup.org [Source type: FILTERED WITH BAYES]

^ Thus, it can be said that roughly three-fifths to four-fifths of the tax generally would tend to be shifted forward as higher prices of finished goods and services.
  • Federal Tax on Net Value Added 15 January 2010 1:23 UTC www.taxhistory.org [Source type: FILTERED WITH BAYES]

.Schedule II deals with zero rated transactions like exports.^ What transactions are considered as zero-rated sales?
  • Bureau of Internal Revenue Website 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: FILTERED WITH BAYES]

^ Zero-rating of exported goods.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ They must be used in transactions on which value added type of tax must be paid, or in transactions subject to the zero rate system.
  • Andean Community / Decision 599: Harmonization of Substantial and Procedural Aspects of Value Added Type of Taxes 15 January 2010 1:23 UTC www.comunidadandina.org [Source type: FILTERED WITH BAYES]

.Schedule III contains goods taxable at 1%, namely jewellery made from bullion and precious stones.^ The disposition of a taxable activity as a going concern is deemed to be a supply of goods made in the course or furtherance of the taxable activity.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ It will be @ 1% of the aggregate purchase of the taxable goods made from registered dealers in the state.
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ If you supply goods and services to another taxable person, you must issue the recipient a VAT invoice containing the details required by regulations ( s 17 ).
  • Value-Added Tax / 2008 / Summary 15 January 2010 1:23 UTC www.taxworld.ie [Source type: FILTERED WITH BAYES]
  • Value-Added Tax / 2007 / Summary 15 January 2010 1:23 UTC www.taxworld.ie [Source type: FILTERED WITH BAYES]

.Goods taxable at 4% are listed under Schedule IV. The majority of foodgrains and goods of national importance, like iron and steel, are listed under this head.^ In respect of an importation of goods into the Cook Islands which is one of the exempt importations listed in the Second Schedule.
  • Value Added Tax 1997 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ "Exempt supply" means a supply of goods or services in the Cook Islands which is exempt from tax under section 10(3) (a) and the First Schedule to this Act: .
  • Value Added Tax 1997 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ In respect of a supply of goods or services in the Cook Islands which is one of the exempt supplies listed in the First Schedule, unless the supply would (but for this paragraph) be subject to tax at a 0% rate under section 11(2): .
  • Value Added Tax 1997 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

.Schedule V deals with Standard Rate Goods, taxable at 12.5%.^ OTHER ZERO RATED GOODS. (1) [11] [12] Where, but for this section, a supply of goods would be charged with tax under Section 6 or 8, any such supply shall be charged at the rate of zero percent where– .
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ PROVIDED that this restriction shall not apply for the purchase of goods from an un-registered dealer dealing exclusively in goods mentioned in the First Schedule;] .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ PROVIDED that a dealer dealing exclusively in goods mentioned in the First Schedule shall not be required to register.
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

.All goods that are not listed elsewhere in the Act fall under this head.^ Deputy Commissioner of Value Added Tax shall have and exercise all the powers and perform all the duties of Revenue Assistant under the said Act; .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ All amounts of tax payable under section 10(2) (b) by the registered person in respect of the importation of goods - .
  • Value Added Tax 1997 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ Being goods in respect of which a deduction under section 16(4)(c) of this Act has been allowed to the registered person; or .
  • Value Added Tax 1997 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

.The VI Schedule contains goods taxed at special rates, such as some liquor and petroleum products.^ It's a tax on goods that's applied in pieces throughout the chain of production and distribution and results in an increase in the cost of virtually everything you buy.  .
  • FOXNews.com - National Sales Tax Chatter Draws Fierce Opposition 15 January 2010 1:23 UTC www.foxnews.com [Source type: News]

^ Value Added Tax (VAT) is a general consumption tax assessed on the value added to goods and services.It is a general tax that applies, in principle, to all commercial activities involving the production and distribution of goods and the provision of services.
  • The Time is now For the Value Added Tax | Facing Up 15 January 2010 1:23 UTC www.facingup.org [Source type: FILTERED WITH BAYES]

^ In case of the sale of travel documents at reduced rates, the tax base is calculated on the basis of such reduced rates.

.The Act prescribes threshold limits for VAT registration - dealers with a taxable turnover of over Rs.40.00 lacs, in a tax period of 12 months, are mandatorily registered as VAT dealers.^ Collection of tax only by registered dealers .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ The rates of tax payable on the taxable turnover of a dealer shall be- .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ What happens if dealers Turnover exceeds Rs.
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

.Dealers with a taxable turnover, in a tax period of 12 months, between Rs.5.00 to 40.00 lacs are registered as Turnover Tax (TOT) dealers.^ Collection of tax only by registered dealers .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ The rates of tax payable on the taxable turnover of a dealer shall be- .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ SG 111/99)The registered person shall be obliged to submit every month together with the information - declaration for the tax period and the information of the registers of this para 1 and the information of the registers of this Art.
  • LAW FOR VALUE ADDED TAX 15 January 2010 1:23 UTC www.bcnl.org [Source type: Original source]

.While the former category of dealers are eligible for input tax credit, the latter category of dealers are not.^ The dealer will be eligible to take credit of input tax in a tax period as specified on the entire purchases.
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ Right to tax credit of the dealers Art.
  • LAW FOR VALUE ADDED TAX 15 January 2010 1:23 UTC www.bcnl.org [Source type: Original source]

^ Input tax credit Rs.
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

.A VAT dealer pays tax at the rate specified in the Schedules.^ Q.12 What are the rates of tax under VAT? .
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ The rates of tax payable on the taxable turnover of a dealer shall be- .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ Q. 21 Who is liable to pay tax under VAT ?
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

.The sales of a TOT dealer are all taxable at 1%.^ The dealers or class of dealers specified in the Fifth Schedule shall be exempt from payment of tax on all sales of goods effected by them subject to such conditions as may be prescribed.
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

.A VAT dealer has to file a monthly return disclosing purchases and sales.^ Where are VAT returns filed?
  • Tax Information 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: Reference]
  • Bureau of Internal Revenue Website 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: FILTERED WITH BAYES]

^ Any dealer who himself manufactures/purchases goods for sale of amount exceeding Rs.
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ If you fail to file a VAT return within the time limit, the Revenue may estimate the VAT that should have been paid and notify you of their estimate ( s 22 ).
  • Value-Added Tax / 2008 / Summary 15 January 2010 1:23 UTC www.taxworld.ie [Source type: FILTERED WITH BAYES]

.A TOT dealer has to file a quarterly return disclosing only sale turnovers.^ Notwithstanding anything contained to the contrary in sub-section (3) of this section, no refund shall be allowed to a dealer who has not filed any return due under this Act.
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ For taxpayers with branches, only one consolidated return shall be filed for the principal place of business or head office and all the branches.
  • Tax Information 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: Reference]
  • Bureau of Internal Revenue Website 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: FILTERED WITH BAYES]

^ Where a dealer wishes to change the method of determining the turnover and turnover of purchases, he may only make the change with the consent of the Commissioner and on such terms and conditions as the Commissioner may impose.
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

While a VAT dealer can buy goods for business from anywhere in the country, a TOT dealer is barred from buying outside the State of A.P.
.The Act appears to be the most liberal VAT law in India.^ I am aware of the law as contained in Group 5 or Group 6 of Schedule 8 to the VAT Act 1994 and claim relief accordingly.
  • VAT Reclaim and refund for selfbuild houses and renovation projects value added tax. 9 February 2010 17:27 UTC www.selfbuildit.co.uk [Source type: General]

^ This ambition gains the most importance in the context of the inter-jurisdictional application of VAT. As simple as it seems, the law of VAT gets quite complicated when it comes to inter-national trade.
  • Value Added Taxation of Electronic Supply of Services 15 January 2010 1:23 UTC centers.law.nyu.edu [Source type: FILTERED WITH BAYES]

.It has simplified the registration procedures and provides for across the board input tax credit (with a few exceptions) for business transactions.^ Input tax credit Rs.
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ How is input tax credit to be claimed?
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ Non-creditable Input Tax .
  • Bureau of Internal Revenue Website 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: FILTERED WITH BAYES]

.A unique feature of registration in Andhra Pradesh is the facility of voluntary VAT registration and input tax credit for start-ups.^ Input tax credit Rs.
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ How is input tax credit to be claimed?
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ Non-creditable Input Tax .
  • Bureau of Internal Revenue Website 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: FILTERED WITH BAYES]

.The Act also provides for transitional relief (TR) for goods on hand as of 1 April 2005. However, these goods ought to have been purchased from registered dealers between 1 April 2005 to 31 March 2006. This is a bold step compared to the 3 months TR provided by several developed countries.^ It will be @ 1% of the aggregate purchase of the taxable goods made from registered dealers in the state.
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ For instance, if a dealer purchases goods for Rs.
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ If goods which have been purchased by a dealer were .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

.The act not only provides for tax refunds for exporters (refund of tax paid on inputs used in the manufacture of goods exported) but also provides for refund of tax in cases where the inputs are taxed at 12.5% and outputs are taxed at 4%.^ Act and paid due tax; or .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ Input tax and output tax.
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ Resellers holding tax-paid goods on April,2005 will also be eligible.
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

.The VAT Act in Andhra Pradesh is administered by the Commercial Taxes Department (department to collect VAT and other taxes) using a networked software package called VATIS. The personnel were trained prior to the Act coming into force.^ Integrating the financial sector into the invoice-credit mechanism of a value-added tax (VAT) is the remaining major outstanding...
  • Value-added tax | Business solutions from AllBusiness.com 15 January 2010 1:23 UTC www.allbusiness.com [Source type: News]

^ Combine passage of the "FairTax" with increased import tariffs on products imported from countries who raise their VAT to offset the advantage the "FairTax" gives us or those who try use the WTO to force us to not change our tax code.
  • Phyllis Schlafly : Value-added taxes put U.S. manufacturers at disadvantage - Townhall.com 15 January 2010 1:23 UTC townhall.com [Source type: General]

^ I = the amount of the tax credit arising in the tax period to which the person is entitled under section 9 of this Act, adjusted to take into account any adjustments to the tax credit required by section 10 of this Act.
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

.VATIS is used to process documents and forms received and to generate registration certificates and tax demand notices.^ PROVIDED that where the Commissioner has not registered the person or issued a notice by the required date, the applicant shall be deemed to be registered for the purposes of this Act, and the Commissioner shall issue a certificate of registration to such person.
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ At termination of the registration the dealer shall be liable with tax according to the general order for the available assets for which he has used tax credit, by the general order of this law.
  • LAW FOR VALUE ADDED TAX 15 January 2010 1:23 UTC www.bcnl.org [Source type: Original source]

^ Act of any process for the service of any notice or the recovery of any demand; .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

.VAT, to be successful, relies on voluntary tax compliance.^ Extends the deadline for registration and other compliance requirements during the transitory period of the imposition of Value-Added Tax (VAT) on sale of services by professional and brokers.
  • Bureau of Internal Revenue Website 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: FILTERED WITH BAYES]

^ Assertion #6: A VAT is a simple tax with low compliance costs.
  • Beware the Value-Added Tax 9 February 2010 17:27 UTC www.heritage.org [Source type: FILTERED WITH BAYES]

^ Robin Linden says "...and the bottom line is that we must charge VAT to EU residents in order to comply with EU tax regulations".
  • European Residents to pay Value-Added Tax on Second Life - SLOG 15 January 2010 1:23 UTC secondslog.blogspot.com [Source type: General]

.Since VAT believes in self-assessments, dealers are required to maintain proper records, issue tax invoices, file correct tax returns etc.^ Tax Invoice shall be issued by a VAT dealer to a VAT dealer.
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ Q.46 Who will issue Tax Invoice?
  • Department of Excise & Taxation, Himachal Pradesh 9 February 2010 17:27 UTC hptax.nic.in [Source type: FILTERED WITH BAYES]

^ Who are required to file VAT returns and/or pay VAT? .
  • Tax Information 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: Reference]

The opposite seems to be happening in India. Businesses are still run on traditional lines. Cash transactions are order of the day. The unorganised sector dominates the market. .The hope of higher tax compliance and lesser evasion is still a far cry in Andhra Pradesh.^ Additional taxes for non-compliance or evasion - There shall be added to and become part of the tax imposed by this Act and collected as such - .
  • Value Added Tax 1997 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ Additional taxes for non-compliance or evasion 25.
  • Value Added Tax 1997 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

This is reflected in the high percentage of return defaulters (14%), credit returns (35%) and nil returns (20%). .That is, roughly 70% of VAT dealers are presently not paying any tax.^ As an indirect tax , the VAT is levied upon the articles of trade before they reach the customer, who eventually pays the tax-inclusive market price.
  • Value Added Taxation of Electronic Supply of Services 15 January 2010 1:23 UTC centers.law.nyu.edu [Source type: FILTERED WITH BAYES]

^ This means you can substract linden dollar expenditures from your income, so you'd need to pay less income tax too (separate from VAT).
  • European Residents to pay Value-Added Tax on Second Life - SLOG 15 January 2010 1:23 UTC secondslog.blogspot.com [Source type: General]

^ A VAT is the most regressive tax a consumer can pay.
  • Reject the Value-Added Tax, Rein in Spending Instead | The Foundry: Conservative Policy News. 15 January 2010 1:23 UTC blog.heritage.org [Source type: News]

.Filing of credit returns is rampant among FMCG, Consumer Durables, Drugs and Medicines and Fertilizers.^ A tax invoice provided under section 18 or debit or credit note provided under section 19 in respect of the supply is held by the registered person when the return is filed; or .
  • Value Added Tax 1997 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

The margins are low in this sector (ranging between 2 to 5%). The value addition is not enough to yield revenue as of now. Credits offered by manufacturers compound the problem. .The question is, in a typical purchases and sales scenario, can there be more output tax than input tax?^ It is far more costly than an retail sales tax.
  • Is a Value Added Tax in Your Future? « naked capitalism 15 January 2010 1:23 UTC www.nakedcapitalism.com [Source type: FILTERED WITH BAYES]

^ Adjustments to input and output tax.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ Input tax and output tax.
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

.When purchases consistently exceed sales, can output tax exceed input tax?^ Adjustments to input and output tax.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ Input tax and output tax.
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ Sales taxes are not that hard to figure out -- just add 10% to the price of your purchase and you'll overestimate what you pay.
  • Value-Added-Taxes in Europe Average 19.8% | Europe Forum | Fodor's Travel Talk Forums 15 January 2010 1:23 UTC www.fodors.com [Source type: General]

.If a VAT dealer can balance his/her purchases and sales, can there be a net tax to the State?^ Does anyone believe that if a VAT tax is imposed, that state sales taxes will cease to exist?
  • » A Value-Added Tax Won’t Solve the Deficit Crisis - Big Government 15 January 2010 1:23 UTC biggovernment.com [Source type: Original source]

^ The co-existence of VAT with the Lagos State Consumption Tax will only exacerbate these perceptions to the further peril of all the economies, State or Federal, in the Federation of Nigeria.
  • Value Added Tax vs. Lagos State Consumption Tax Law 15 January 2010 1:23 UTC www.businessdayonline.com [Source type: Original source]

^ VAT, like the Lagos State Consumption Tax, is charged at the flat rate of five per cent (5%) of the goods or services enjoyed by the ultimate consumer.
  • Value Added Tax vs. Lagos State Consumption Tax Law 15 January 2010 1:23 UTC www.businessdayonline.com [Source type: Original source]

.Is there a mathematical model or paradigm which can give value added tax and which can reduce the percentage of credit returns?^ Value Added Tax Act 1994 .
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ Commencement day for value added tax.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ Law for value added tax.
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

There are no ready answers for these queries. .The only remedy seems to be the restriction of input tax to the corresponding purchase value of goods put to sales.^ Value Added Tax (VAT) is a general consumption tax assessed on the value added to goods and services.It is a general tax that applies, in principle, to all commercial activities involving the production and distribution of goods and the provision of services.
  • The Time is now For the Value Added Tax | Facing Up 15 January 2010 1:23 UTC www.facingup.org [Source type: FILTERED WITH BAYES]

^ Regulations implementing the provisions of Title IV of the Tax Code imposing VAT on importation of goods and sales and services · RR No.
  • Tax Information 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: Reference]

^ These are the effects of VAT and other taxes on sales of particular goods that you can’t do without and are just another way of bleeding the slaves.
  • Ezekiel Emanuel Pushes U.S. Value-added Tax 15 January 2010 1:23 UTC www.infowars.com [Source type: FILTERED WITH BAYES]

.In fact a two-tier system can be adopted to counter the credit returns - allow full input tax to manufacturers and restrict input tax to the purchase value of goods put to sale to traders.^ Restrictions to the right of tax credit deduction .
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

^ Non-creditable Input Tax .
  • Bureau of Internal Revenue Website 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: FILTERED WITH BAYES]

^ A: In the kind of value-added tax that's in place in Europe and is being looked at in Washington, a tax is levied on the value added to a product at every stage of the manufacturing cycle.
  • Democrats and Republicans are considering a European-style value-added tax for U.S. | National News - cleveland.com - - cleveland.com 15 January 2010 1:23 UTC www.cleveland.com [Source type: FILTERED WITH BAYES]

.Restricting input tax to 4% in the case of inter state sales and in the case of products taxable at 12.5% seems to be another solution.^ Does anyone believe that if a VAT tax is imposed, that state sales taxes will cease to exist?
  • » A Value-Added Tax Won’t Solve the Deficit Crisis - Big Government 15 January 2010 1:23 UTC biggovernment.com [Source type: Original source]

^ In case of sale of goods (works, services) to the population at wholesale prices (tariffs) the appropriate amount of tax shall be included in said prices (tariffs).

^ The tax base in case of sale of an enterprise as a whole property complex shall be defined separately on each type of asset of the enterprise.

Gulf Cooperation Council

.Increased growth and pressure on the GCC's governments to provide infrastructure to support growing urban centers, the Member States of the Persian Gulf Cooperation Treaty, which together make up the Gulf Cooperation Council (GCC), have felt the need to introduce a tax system in the region.^ The harmonization system of indirect taxes on consumption for the Member Countries consists of the following taxes: .
  • Andean Community / Decision 599: Harmonization of Substantial and Procedural Aspects of Value Added Type of Taxes 15 January 2010 1:23 UTC www.comunidadandina.org [Source type: FILTERED WITH BAYES]

^ See First Council Directive on the harmonization of legislation of Member States concerning turnover taxes (67/227/EEC) OJ 071 14/04/1967 p.1301 .
  • Value Added Taxation of Electronic Supply of Services 15 January 2010 1:23 UTC centers.law.nyu.edu [Source type: FILTERED WITH BAYES]

^ "VIES declaration (Value Added Tax Information Exchange System)" shall be generalized declaration, used for the purposes of the control and the exchange of information between the Member States.
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

.In particular, the United Arab Emirates (UAE) has clarified that government officials are studying the situation and considering implementation of a Value Added Tax.^ Value Added Tax Act 1994 .
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ Conventional Value-added Tax .
  • The Value-Added Tax: Key to Deficit Reduction? by Mark A. Bloomfield, Charles E. McLure Jr. at Questia Online Library 15 January 2010 1:23 UTC www.questia.com [Source type: Academic]

^ Turnover Taxes and Value-added Tax Compared .
  • The Value-Added Tax: Key to Deficit Reduction? by Mark A. Bloomfield, Charles E. McLure Jr. at Questia Online Library 15 January 2010 1:23 UTC www.questia.com [Source type: Academic]

[7].

Mexico

.Impuesto al Valor Agregado (IVA, "value-added tax" in Spanish) is a tax applied in Mexico and other countries of Latin America.^ Value Added Tax , ภาษีมูลค่าเพิ่ม .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ Value Added Tax Act 1994 .
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ Conventional Value-added Tax .
  • The Value-Added Tax: Key to Deficit Reduction? by Mark A. Bloomfield, Charles E. McLure Jr. at Questia Online Library 15 January 2010 1:23 UTC www.questia.com [Source type: Academic]

In Chile it is also called Impuesto al Valor Agregado and in Peru it is called Impuesto General a las Ventas or IGV.
.Prior to the IVA, a similar tax called impuesto a las ventas ("sales tax") had been applied in Mexico.^ Impuesto General a la Ventas .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ Mehrwertsteuer , TVA = Taxe sur la valeur ajoutée , IVA = Imposta sul valore aggiunto , TPV = Taglia sin la Plivalur .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ Explanation II .- Section 14 deals with goods which have borne sales tax prior to the commencement of this Act.
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

.In September, 1966, the first attempt to apply the IVA took place when revenue experts declared that the IVA should be a modern equivalent of the sales tax as it occurred in France.^ Place of performance, tax event and tax exigibility regarding the deliveries of goods, for which the special procedure for levying the margin shall be applied .
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

^ Nothing contained in this Act or the rules made thereunder shall be deemed to impose or authorise the imposition of tax on any sale of goods when such sale takes place - .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ Sections 3, 4 and 5 of the Central Sales Tax Act, 1956 (74 of 1956) shall apply for determining whether or not a particular sale takes place in the manner indicated in clause (a), clause (b) or clause (c) of this section.
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

.At the convention of the Inter-American Center of Revenue Administrators in April and May, 1967, the Mexican representation declared that the application of a value-added tax would not be possible in Mexico at the time.^ Value Added Tax , ภาษีมูลค่าเพิ่ม .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ Value Added Tax Act 1994 .
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ Conventional Value-added Tax .
  • The Value-Added Tax: Key to Deficit Reduction? by Mark A. Bloomfield, Charles E. McLure Jr. at Questia Online Library 15 January 2010 1:23 UTC www.questia.com [Source type: Academic]

.In November, 1967, other experts declared that although this is one of the most equitable indirect taxes, its application in Mexico could not take place.^ Nothing contained in this Act or the rules made thereunder shall be deemed to impose or authorise the imposition of tax on any sale of goods when such sale takes place - .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ Sections 3, 4 and 5 of the Central Sales Tax Act, 1956 (74 of 1956) shall apply for determining whether or not a particular sale takes place in the manner indicated in clause (a), clause (b) or clause (c) of this section.
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ Commissioner, false bill, cash-memorandum, voucher, declaration, certificate, tax invoice or other document for claiming deduction on tax credit; or .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

.In response to these statements, direct sampling of members in the private sector took place as well as field trips to the European countries this tax was applied or it was soon to be applied.^ He has been a member of the Law School Faculty since 1955 when he began directing the Tax Program’s training activities and was appointed Professor of Law in 1961.
  • Value Added Tax - Cambridge University Press 15 January 2010 1:23 UTC www.cambridge.org [Source type: Reference]

^ Yet, the Member Countries may prescribe for the tax to be caused at the time of the issuing of the respective receipt or at the time of payment for the good or service, whichever occurs first.
  • Andean Community / Decision 599: Harmonization of Substantial and Procedural Aspects of Value Added Type of Taxes 15 January 2010 1:23 UTC www.comunidadandina.org [Source type: FILTERED WITH BAYES]

^ The harmonization system of indirect taxes on consumption for the Member Countries consists of the following taxes: .
  • Andean Community / Decision 599: Harmonization of Substantial and Procedural Aspects of Value Added Type of Taxes 15 January 2010 1:23 UTC www.comunidadandina.org [Source type: FILTERED WITH BAYES]

.In 1969, the first attempt to substitute the mercantile-revenue tax for the value-added tax took place.^ Value Added Tax , ภาษีมูลค่าเพิ่ม .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ Value Added Tax Act 1994 .
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ Conventional Value-added Tax .
  • The Value-Added Tax: Key to Deficit Reduction? by Mark A. Bloomfield, Charles E. McLure Jr. at Questia Online Library 15 January 2010 1:23 UTC www.questia.com [Source type: Academic]

.On December 29, 1978 the Federal government published the official application of the tax beginning on January 1, 1980 in the Official Journal of the Federation (Diario Oficial de la Federación).^ The order of confirmation of the right to receive reimbursement of the amount of tax with application of the 0 per cent tax rate concerning the goods moved across the border of the Russian Federation without customs control and customs clearance shall be defined by the Government of the Russian Federation.

^ The order of payment of the commodity tax levied on goods moved across the customs border of the Russian Federation without customs control or customs clearance shall be defined by the Government of the Russian Federation.

^ The Commissioner may, by notification in the official Gazette, publish his ruling on the answer to any question involving the interpretation of this Act or application of this Act to a class of persons or class of transactions.
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

.As of 01/01/2010, the general 15% VAT rate will be increased to 16%.^ Jan 15, 10 at 01:38 AM 6 Trip to Spain June 2010 First Time to Europe by Martin0320 .
  • Value-Added-Taxes in Europe Average 19.8% | Europe Forum | Fodor's Travel Talk Forums 15 January 2010 1:23 UTC www.fodors.com [Source type: General]

^ According to the Sixth Directive the standard national rate of VAT may not be less than 15% at present.
  • Value Added Taxation of Electronic Supply of Services 15 January 2010 1:23 UTC centers.law.nyu.edu [Source type: FILTERED WITH BAYES]

^ Imbedding the VAT makes it that much harder to know what increases in the cost are resulted from changes in the cost of the underlying good and those that result from changes in the tax rates.
  • Value-Added-Taxes in Europe Average 19.8% | Europe Forum | Fodor's Travel Talk Forums 15 January 2010 1:23 UTC www.fodors.com [Source type: General]

.This rate is applied all over Mexico except for the Mexican region bordering the US states of California, Arizona, New Mexico and Texas, where the VAT (IVA) tax is 10% (to be raised to 11% as of 01/01/2010.) The main exemptions are for books, food, and medicines on a 0% basis.^ IVA Value added tax (Mexico) .
  • Value-Added Taxes (VAT) 9 February 2010 17:27 UTC www.uscib.org [Source type: FILTERED WITH BAYES]

^ Thursday, 22 October 2009 01:11 Anonymous User Rating: / 1 Poor Best A decline in oil revenues with declining infrastructural facilities has led to the Lagos State Government passing into Law the Lagos State Hotel Occupancy, Restaurants and Events Centres Consumption Tax Law, 2009 (the Lagos State Consumption Tax).
  • Value Added Tax vs. Lagos State Consumption Tax Law 15 January 2010 1:23 UTC www.businessdayonline.com [Source type: Original source]

^ The co-existence of VAT with the Lagos State Consumption Tax will only exacerbate these perceptions to the further peril of all the economies, State or Federal, in the Federation of Nigeria.
  • Value Added Tax vs. Lagos State Consumption Tax Law 15 January 2010 1:23 UTC www.businessdayonline.com [Source type: Original source]

.Also some services are exempt like medical doctors attention.^ The supply of medical and related services by a hospital, a registered medical practitioner, registered dental practitioner, optician or nurse, or an aid post orderly is exempt from tax under this Act.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ Reduced rate of 7% for articles like glasses, medical items, houses,..., superreduced rate of 4% for bread, basic articles (some food, milk, medicines,...
  • Value-Added-Taxes in Europe Average 19.8% | Europe Forum | Fodor's Travel Talk Forums 15 January 2010 1:23 UTC www.fodors.com [Source type: General]

New Zealand

.Goods and Services Tax (GST) is a Value Added Tax introduced in New Zealand in 1986, which is currently 12.5%.^ Value Added Tax , ภาษีมูลค่าเพิ่ม .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ Value Added Tax Act 1994 .
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ Conventional Value-added Tax .
  • The Value-Added Tax: Key to Deficit Reduction? by Mark A. Bloomfield, Charles E. McLure Jr. at Questia Online Library 15 January 2010 1:23 UTC www.questia.com [Source type: Academic]

.It is notable for exempting few items from the tax.^ And I think there are a few items without any taxes.
  • Value-Added-Taxes in Europe Average 19.8% | Europe Forum | Fodor's Travel Talk Forums 15 January 2010 1:23 UTC www.fodors.com [Source type: General]

Australia

.Goods and Services Tax (GST) is a Value Added Tax introduced in Australia in 2000, which is collected by the Federal Government but given to the State Governments.^ Value Added Tax , ภาษีมูลค่าเพิ่ม .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ Value Added Tax Act 1994 .
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ Commencement day for value added tax.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

.The Australian Constitution restricts the ability of individual States to collect excises or sales taxes.^ The Taxes and Levies (Approved List for Collection) Act, 1998 also does not accommodate State Governments enacting for their own States, a separate Consumption Tax.
  • Value Added Tax vs. Lagos State Consumption Tax Law 15 January 2010 1:23 UTC www.businessdayonline.com [Source type: Original source]

^ And in the U.S. where the sales tax is mainly a state affair - except certain federal 'luxury' taxes - more confusing is that certain items may not be taxed at all - like food in my state but are in others.
  • Value-Added-Taxes in Europe Average 19.8% | Europe Forum | Fodor's Travel Talk Forums 15 January 2010 1:23 UTC www.fodors.com [Source type: General]

^ However, most states have come to rely on income taxes...to administrative aspects, Federal imposition of a sales or value - added tax would require establishing a new tax -collection system...
  • The Value-Added Tax: Key to Deficit Reduction? by Mark A. Bloomfield, Charles E. McLure Jr. at Questia Online Library 15 January 2010 1:23 UTC www.questia.com [Source type: Academic]

.Whilst the rate is currently set at 10%, there are many domestically consumed items that are effectively zero-rated (GST-free) such as fresh food, education, and health services, as well exemptions for Government charges and fees that are themselves in the nature of taxes.^ Where, but for this section, a supply of services would be charged with tax under Section 8, any such supply shall be charged at the rate of zero percent where– .
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ It was reduced from 18% to 17% on March 2004, to 16.5% on September 2005, and was set to its current rate on July 1 , 2006 .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ Many details have not yet been confirmed but it has been stated that essential goods and small businesses would be exempted or zero rated.
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

Canada

.Goods and Service Tax (GST) is a Value Added Tax introduced by the Federal Government in 1991 at a rate of 7%.^ Value Added Tax , ภาษีมูลค่าเพิ่ม .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ Value Added Tax Act 1994 .
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

^ Commencement day for value added tax.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

.The rate is currently 5% and is imposed in addition to provincial sales taxes, except in Alberta, where there is no provincial sales tax; and in New Brunswick, Newfoundland and Nova Scotia, where a Harmonized Sales Tax (5% GST + 8% PST = 13% HST) (combined GST and provincial sales tax) is collected.^ HST Harmonized sales tax .
  • Value-Added Taxes (VAT) 9 February 2010 17:27 UTC www.uscib.org [Source type: FILTERED WITH BAYES]

^ In the rest of Canada, the GST is a 5% federal VAT and if there is a Provincial Sales Tax (PST) it is a separate non-VAT tax.
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ Goods and Services Tax , TPS = Taxe sur les produits et services ; HST = Harmonized Sales Tax , TVH = Taxe de vente harmonisée .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

.The Provinces of British Columbia and Ontario are planning to harmonise their provincial sales taxes with the GST effective July 2010. Advertised prices for goods generally do not include taxes; instead, tax is calculated at the cash register.^ A dealers sale price always includes the tax payable by it on making the sale, if any; .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ GST = Goods and Sales Tax (الضريبة على القيمة المضافة) .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ Calculation of tax at import of goods Art.
  • LAW FOR VALUE ADDED TAX 15 January 2010 1:23 UTC www.bcnl.org [Source type: Original source]

United States

.Most states have a retail sales tax charged to the end buyer only.^ The co-existence of VAT with the Lagos State Consumption Tax will only exacerbate these perceptions to the further peril of all the economies, State or Federal, in the Federation of Nigeria.
  • Value Added Tax vs. Lagos State Consumption Tax Law 15 January 2010 1:23 UTC www.businessdayonline.com [Source type: Original source]

^ VAT, like the Lagos State Consumption Tax, is charged at the flat rate of five per cent (5%) of the goods or services enjoyed by the ultimate consumer.
  • Value Added Tax vs. Lagos State Consumption Tax Law 15 January 2010 1:23 UTC www.businessdayonline.com [Source type: Original source]

^ Tax shall not be charged at carrying out exempt delivery, exempt inter-community acquisition, as well as at delivery, having a place of performance out of the state’s territory.
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

.Unlike in the VAT, sales to other businesses are untaxed.^ Extends the deadline for registration and other compliance requirements during the transitory period of the imposition of Value-Added Tax (VAT) on sale of services by professional and brokers.
  • Bureau of Internal Revenue Website 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: FILTERED WITH BAYES]

^ These are the effects of VAT and other taxes on sales of particular goods that you can’t do without and are just another way of bleeding the slaves.
  • Ezekiel Emanuel Pushes U.S. Value-added Tax 15 January 2010 1:23 UTC www.infowars.com [Source type: FILTERED WITH BAYES]

.State sales taxes range from 0%-13% and municipalities often add an additional tax in the form of a local sales tax.^ Not a price that has to be marked up by the provincial sales tax, the federal sales tax, municipal tourism tax, the fuel add on tax,etc...
  • Value-Added-Taxes in Europe Average 19.8% | Europe Forum | Fodor's Travel Talk Forums 15 January 2010 1:23 UTC www.fodors.com [Source type: General]

^ DESCRIPTION Value-Added Tax is a form of sales tax.
  • Tax Information 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: Reference]

^ Sales taxes are not that hard to figure out -- just add 10% to the price of your purchase and you'll overestimate what you pay.
  • Value-Added-Taxes in Europe Average 19.8% | Europe Forum | Fodor's Travel Talk Forums 15 January 2010 1:23 UTC www.fodors.com [Source type: General]

[8] .In many stores, the price tags and/or advertised prices do not include the taxes, and the taxes are added at the cash register before the customer pays.^ Adding the tax to the price is only for display.
  • Ubercart European VAT Compatibility | Ubercart 9 February 2010 17:27 UTC www.ubercart.org [Source type: General]

^ Posts tagged value added tax .

^ For the purposes of Subsections (1) and (2), the open market value of a supply includes any value added tax charged under Section 8 on that supply.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

.In some states, no sales tax is charged for services.^ The destination country charges no tax.
  • Value Added Taxation of Electronic Supply of Services 15 January 2010 1:23 UTC centers.law.nyu.edu [Source type: FILTERED WITH BAYES]

^ Goods and Services Tax , TPS = Taxe sur les produits et services ; HST = Harmonized Sales Tax , TVH = Taxe de vente harmonisée .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ VAT, like the Lagos State Consumption Tax, is charged at the flat rate of five per cent (5%) of the goods or services enjoyed by the ultimate consumer.
  • Value Added Tax vs. Lagos State Consumption Tax Law 15 January 2010 1:23 UTC www.businessdayonline.com [Source type: Original source]

.(In many states, a use tax is imposed on items ordered online or bought in a lower or no sales tax state, and brought into the taxpayer's home state).^ However, the Ogun State Sales Tax Law was declared null and void by the Supreme Court in this case because the Law imposed a tax on goods and services brought into the State which was a matter of inter-state trade and commerce which is within the exclusive legislative power of the Federal Government.
  • Value Added Tax vs. Lagos State Consumption Tax Law 15 January 2010 1:23 UTC www.businessdayonline.com [Source type: Original source]

^ Tax rates are no diamonds, so this is needed to get old orders displayed right if tax rates changed.
  • Ubercart European VAT Compatibility | Ubercart 9 February 2010 17:27 UTC www.ubercart.org [Source type: General]

^ Perhaps we should focus our efforts on making this module solid for that use and then building into it a workflow-ng condition that will check an order to see if the customer is in an EU member state with a single condition.
  • Ubercart European VAT Compatibility | Ubercart 9 February 2010 17:27 UTC www.ubercart.org [Source type: General]

.This is a key difference between most sales taxes levied throughout the United States and the value added tax system in many other countries.^ DESCRIPTION Value-Added Tax is a form of sales tax.
  • Tax Information 15 January 2010 1:23 UTC www.bir.gov.ph [Source type: Reference]

^ Value Added Tax , ภาษีมูลค่าเพิ่ม .
  • Podesta Says Value-Added Tax �More Plausible� as Deficits Grow 15 January 2010 1:23 UTC www.freerepublic.com [Source type: FILTERED WITH BAYES]

^ Value Added Tax Act 1994 .
  • Value Added Tax Act 1994 15 January 2010 1:23 UTC www.ukincorp.co.uk [Source type: FILTERED WITH BAYES]

.In the United States, the state of Michigan used a form of VAT known as the "Single Business Tax" (SBT) as its form of general business taxation.^ Michigan single business tax .
  • Value Added Tax - Cambridge University Press 15 January 2010 1:23 UTC www.cambridge.org [Source type: Reference]

^ Federal tax reform in the United States .

^ The co-existence of VAT with the Lagos State Consumption Tax will only exacerbate these perceptions to the further peril of all the economies, State or Federal, in the Federation of Nigeria.
  • Value Added Tax vs. Lagos State Consumption Tax Law 15 January 2010 1:23 UTC www.businessdayonline.com [Source type: Original source]

.It is the only state in the United States to have used a VAT. When it was adopted in 1975, it replaced seven business taxes, including a corporate income tax.^ It’s meant to REPLACE the income tax, not be in addition to it.
  • Ezekiel Emanuel Pushes U.S. Value-added Tax 15 January 2010 1:23 UTC www.infowars.com [Source type: FILTERED WITH BAYES]

^ Federal tax reform in the United States .

^ Value - added tax United States .
  • The Value-Added Tax: Key to Deficit Reduction? by Mark A. Bloomfield, Charles E. McLure Jr. at Questia Online Library 15 January 2010 1:23 UTC www.questia.com [Source type: Academic]

On August 9, 2006, the Michigan Legislature approved voter-initiated legislation to repeal the Single Business Tax, which became effective January 1, 2009.[9]
.House Speaker Nancy Pelosi stated in October 2009 that a new, national VAT was "on the table" to help the federal government garner needed revenues,[10] After her speech, the Americans for Tax Reform group urged the public to contact their members of Congress to oppose this potential measure.^ Federal tax reform in the United States .

^ Unlike the Lagos State Consumption Tax which is solely for the benefit of the Lagos State Government, VAT is administered by the Federal Government of Nigeria Agency, the Federal Board of Inland Revenue (FBIR), with the proceeds of VAT being distributed under an agreed formular by the 36 States of the Federation of Nigeria.
  • Value Added Tax vs. Lagos State Consumption Tax Law 15 January 2010 1:23 UTC www.businessdayonline.com [Source type: Original source]

^ Thursday, 22 October 2009 01:11 Anonymous User Rating: / 1 Poor Best A decline in oil revenues with declining infrastructural facilities has led to the Lagos State Government passing into Law the Lagos State Hotel Occupancy, Restaurants and Events Centres Consumption Tax Law, 2009 (the Lagos State Consumption Tax).
  • Value Added Tax vs. Lagos State Consumption Tax Law 15 January 2010 1:23 UTC www.businessdayonline.com [Source type: Original source]

[11]

Tax rates

EU countries

Country Standard rate Reduced rate Abbr. Name
 Austria 20% 12% or 10% USt. Umsatzsteuer
 Belgium 21% 12%, 6% or 0% in some cases BTW
TVA
MWSt
Belasting over de toegevoegde waarde
Taxe sur la Valeur Ajoutée
Mehrwertsteuer
 Bulgaria 20% 0% or 7% ДДС Данък върху добавената стойност
 Cyprus 15% 5% ΦΠΑ Φόρος Προστιθέμενης Αξίας
 Czech Republic 20% 10% DPH Daň z přidané hodnoty
 Denmark 25% none moms Merværdiafgift
 Estonia 20% (as of July 1, 2009) 9% km käibemaks
 Finland 22% (23% from 1 July 2010 on) [12] 17% or 8% ALV
Moms
Arvonlisävero
Mervärdesskatt
 France 19.6% 5.5% or 2.1% TVA Taxe sur la valeur ajoutée
 Germany 19% 7% MwSt./USt. Mehrwertsteuer/Umsatzsteuer
 Greece 21% 10% or 5%
(reduced by 30% to 13%, 6% and 3% on islands)
ΦΠΑ Φόρος Προστιθέμενης Αξίας
 Hungary 25% (as of July 1, 2009[13]) 5% ÁFA általános forgalmi adó
 Ireland 21.5% (2009), 21% (from January 1, 2010) 13.5%, 4.8% or 0% CBL
VAT
Cáin Bhreisluacha (Irish)
Value Added Tax (English)
 Italy 20% 10% or 4% IVA Imposta sul Valore Aggiunto
 Latvia 21% 0% or 10% PVN Pievienotās vērtības nodoklis
 Lithuania 21% (as of September 1, 2009) 9% or 5% PVM Pridėtinės vertės mokestis
 Luxembourg 15% 12%, 9%, 6%, or 3% TVA Taxe sur la Valeur Ajoutée
 Malta 18% 5% VAT Taxxa tal-Valur Miżjud
 Netherlands 19% 6% or 0% BTW Belasting over de toegevoegde waarde
 Poland 22% 7%, 3% or 0% PTU/VAT Podatek od towarów i usług
 Portugal 20% (as of July 1, 2008) 12% or 5% IVA Imposto sobre o Valor Acrescentado
Madeira and Azores 15% 8% or 4% IVA Imposto sobre o Valor Acrescentado
 Romania 19% 9% TVA Taxa pe valoarea adăugată
 Slovakia 19% 10% DPH Daň z pridanej hodnoty
 Slovenia 20% 8.5% DDV Davek na dodano vrednost
 Spain 16% (18% from 1 July 2010 on) [14] 7% or 4% (8% or 4% from 1 July 2010 on) [15] IVA Impuesto sobre el Valor Añadido
Canary Islands 5% 0% or 2% IGIC Impuesto General Indirecto Canario
 Sweden 25% 12% or 6% Moms Mervärdesskatt
 United Kingdom 17.5% 5% or 0% VAT Value Added Tax

Non-EU countries

Country Standard rate Reduced rate Local name
 Albania 20% 0% TVSH = Tatimi mbi Vlerën e Shtuar
 Azerbaijan 18% 10.5% or 0% ƏDV = Əlavə dəyər vergisi
 Argentina 21% 10.5% or 0% IVA = Impuesto al Valor Agregado
 Armenia 20% 0% AAH = Avelatsvats arjheki hark
ԱԱՀ = Ավելացված արժեքի հարկ
 Australia 10% 0% GST = Goods and Services Tax
 Belarus 20% ПДВ = Падатак на дададзеную вартасьць
 Barbados 15% VAT = Value Added Tax
 Bosnia and Herzegovina 17% 0% PDV = Porez na dodanu vrijednost
 Brazil 12% + 25% + 5% 0% *IPI - 12% = Imposto sobre produtos industrializados (Tax over industrialized products) - Federal Tax
ICMS - 25% = Imposto sobre circulação e serviços (Tax over commercialization and services) - State Tax
ISS - 5% = Imposto sobre serviço de qualquer natureza (Tax over any service) - City tax

*IPI = Imposto sobre produtos industrializados (Tax over industrialized products) can reach 60% over imported products.
 Bolivia 13% (nominal rate) 14.94% (effective rate) IVA = Impuesto al Valor Agregado
 Canada 5% 4.5%2 GST = Goods and Services Tax, TPS = Taxe sur les produits et services; HST = Harmonized Sales Tax, TVH = Taxe de vente harmonisée
 Chile 19% IVA = Impuesto al Valor Agregado
 Colombia 16% IVA = Impuesto al Valor Agregado
 People's Republic of China3 17% 6% or 3% 增值税 (pinyin:zēng zhí shuì)
 Croatia 23% 10% or 0% PDV = Porez na dodanu vrijednost
 Dominican Republic 16% 12% or 0% ITBIS = Impuesto sobre Transferencia de Bienes Industrializados y Servicios
 Ecuador 12% IVA = Impuesto al Valor Agregado
 Egypt 10% GST = Goods and Sales Tax (الضريبة على القيمة المضافة)
 El Salvador 13% IVA = Impuesto al Valor Agregado
 Fiji 12.5% 0% VAT = Value Added Tax
 Georgia 18% 0% DGhG = Damatebuli Ghirebulebis gdasakhadi დღგ = დამატებული ღირებულების გადასახადი
 Guatemala 12% IVA = Impuesto al Valor Agregado
 Guyana[16] 16% 0% VAT = Value Added Tax
 Iran 3% VAT = Value Added Tax (مالیات بر ارزش افزوده)
 Iceland 25.5% 7%4 VSK = Virðisaukaskattur
 India5 12.5% 4%, 1%, or 0% VAT = Valued Added Tax
 Indonesia 10% 5% PPN = Pajak Pertambahan Nilai
 Israel6 16%7 Ma'am = מס ערך מוסף
 Japan 5% Consumption tax = 消費税
 South Korea 10% VAT = 부가세(附加稅, Bugase) = 부가가치세(附加價値稅, Bugagachise)
 Jersey8 3% GST = Goods and Sales Tax
 Jordan 16% GST = Goods and Sales Tax
 Kazakhstan 13% Қосымша салық құны
 Kosovo 16% TVSH = Tatimi mbi Vlerën e Shtuar
 Lebanon 10% TVA = Taxe sur la valeur ajoutée
 Morocco 20% GST = Goods and Sales Tax (الضريبة على القيمة المضافة)
 Moldova 20% 8%, 5% or 0% TVA = Taxa pe Valoarea Adăugată
 Macedonia 18% 5% ДДВ = Данок на Додадена Вредност, DDV = Danok na Dodadena Vrednost
 Malaysia9 10% GST = Goods and Services Tax (Government Tax)
 Mexico 16% 0% IVA = Impuesto al Valor Agregado
 Montenegro 17% PDV = Porez na dodatu vrijednost
 Mauritius 15% VAT = Value Added Tax
 New Zealand 12.5% GST = Goods and Services Tax
 Norway 25% 14% or 8% MVA = Merverdiavgift (bokmål)or meirverdiavgift (nynorsk) (informally moms)
 Pakistan 16% 1% or 0% GST = General Sales Tax
 Panama 5% ITBMS = Impuesto de Transferencia de Bienes Muebles y Servicios
 Paraguay 10% 5% IVA= Impuesto al Valor Agregado
 Peru 19% IGV = Impuesto General a la Ventas
 Philippines 12%10 RVAT = Reformed Value Added Tax, locally known as Karagdagang Buwis
 Russia 18% 10% or 0% НДС = Налог на добавленную стоимость, NDS = Nalog na dobavlennuyu stoimost’
 Serbia 18% 8% or 0% ПДВ = Порез на додату вредност, PDV = Porez na dodatu vrednost
 Singapore 7% GST = Goods and Services Tax
 South Africa 14% 0% VAT = Valued Added Tax
 Sri Lanka 12%
 Switzerland 7.6%
(8% from 2011 to 2017)
3.6% (hotel sector) and 2.4% (consumer goods)
Temporarily changing to 3.8% and 2.5% due to AI funding from 2011 to 2017.
MWST = Mehrwertsteuer, TVA = Taxe sur la valeur ajoutée, IVA = Imposta sul valore aggiunto, TPV = Taglia sin la Plivalur
 Thailand 7% VAT = Value Added Tax, ภาษีมูลค่าเพิ่ม
 Trinidad and Tobago 15%
 Turkey 18% 8% or 1% KDV = Katma değer vergisi
 Ukraine 20% 0% ПДВ = Податок на додану вартість, PDV = Podatok na dodanu vartist’.
 Uruguay 22% 10% IVA = Impuesto al Valor Agregado
 Uzbekistan 20 % НДС = Налог на добавленную стоимость
 Vietnam 10% 5% or 0% GTGT = Giá Trị Gia Tăng
 Venezuela 12% 11% IVA = Impuesto al Valor Agregado
.Note 1: HST is a combined federal/provincial VAT collected in some provinces.^ Some provinces have a HST (harmonized sales tax) but that's just a blended PST and GST situation that cuts down on some paperwork at the retail and government level.
  • U.S. VAT Tax Would Affect Games, Systems, Online Fees (and everything else) | GamePolitics 15 January 2010 1:23 UTC www.gamepolitics.com [Source type: General]

^ Some notes to VAT processing used here (according to local rules and/or my costumers requests): .
  • Ubercart European VAT Compatibility | Ubercart 9 February 2010 17:27 UTC www.ubercart.org [Source type: General]

.In the rest of Canada, the GST is a 5% federal VAT and if there is a Provincial Sales Tax (PST) it is a separate non-VAT tax.^ Submitted by SeanB - May 28, 2009 at 2:47 pm -0500 back in the 80's (i think) canada enacted a federal GST (goods and services tax), which if i understand is equivalent to your proposed VAT. In addition to that, most of our provinces have thier own PST (provincial sales tax).
  • U.S. VAT Tax Would Affect Games, Systems, Online Fees (and everything else) | GamePolitics 15 January 2010 1:23 UTC www.gamepolitics.com [Source type: General]

^ Additional taxes for non-compliance or evasion - There shall be added to and become part of the tax imposed by this Act and collected as such - .
  • Value Added Tax 1997 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ Submitted by wintermute - May 28, 2009 at 3:31 pm -0500 In Pennsylvania I already pay a 6% sales tax on "non necessity" items.
  • U.S. VAT Tax Would Affect Games, Systems, Online Fees (and everything else) | GamePolitics 15 January 2010 1:23 UTC www.gamepolitics.com [Source type: General]

.Note 2: No real "reduced rate", but rebates generally available for new housing effectively reduce the tax to 4.5%.^ At termination of the registration the dealer shall be liable with tax according to the general order for the available assets for which he has used tax credit, by the general order of this law.
  • LAW FOR VALUE ADDED TAX 15 January 2010 1:23 UTC www.bcnl.org [Source type: Original source]

^ Act; or ( b ) substitute a reduced rate of value added tax in respect of the supply of any good or service subject to value added tax under this Act.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ An exemption from, or a reduced rate of value added tax under Subsection (10)– .
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

.Note 3: These taxes do not apply in Hong Kong and Macau, which are financially independent as special administrative regions.^ Place of performance, tax event and tax exigibility regarding the deliveries of goods, for which the special procedure for levying the margin shall be applied .
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

^ The dealer shall not have right of deduction of tax credit for goods received or imported by him/her, for which the special procedure for levying the margin shall be applied.
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

^ Now who do you think picks up these taxes that are applied and payed along the way?
  • U.S. VAT Tax Would Affect Games, Systems, Online Fees (and everything else) | GamePolitics 15 January 2010 1:23 UTC www.gamepolitics.com [Source type: General]

Note 4: The reduced rate was 14% until 1 March 2007, when it was lowered to 7%. .The reduced rate applies to heating costs, printed matter, restaurant bills, hotel stays, and most food.^ Exempt - this is treated as different from a 0% rate, even though both charge no VAT. For example, most food is EXEMPT, but Training services are 0%.
  • Ubercart European VAT Compatibility | Ubercart 9 February 2010 17:27 UTC www.ubercart.org [Source type: General]

^ Submitted by Bill - May 28, 2009 at 2:42 pm -0500 Because no matter what, the increase in costs are simply passed on to the consumer.
  • U.S. VAT Tax Would Affect Games, Systems, Online Fees (and everything else) | GamePolitics 15 January 2010 1:23 UTC www.gamepolitics.com [Source type: General]

Note 5: VAT is not implemented in 2 of India's 28 states.
Note 6: Except Eilat, where VAT is not raised.[17]
.Note 7: The VAT in Israel is in the process of being gradually reduced.^ Some notes to VAT processing used here (according to local rules and/or my costumers requests): .
  • Ubercart European VAT Compatibility | Ubercart 9 February 2010 17:27 UTC www.ubercart.org [Source type: General]

.It was reduced from 18% to 17% on March 2004, to 16.5% on September 2005, and was set to its current rate on July 1, 2006. There are plans to further reduce it in the near future, but they depend on political changes in the Israeli parliament.^ SG 70/2004, SG 77, 87, 88, 95 and 105 from 2005, SG 30 and 34 from 2006) in § 1, item 27 of the Additional provisions the words "art.
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

^ SG 15/2000, SG 9 and 62 from 2001, SG 19/2002, SG 16/2003, SG 32 and 71 from 2004, SG 15 and 96 from 2005, SG 22/2006).
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

^ SG 96/2004, SG 102 and 105 from 2005, SG 33 from 2006) in art.
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

.Note 8: The introduction of a goods and sales tax of 3% will be introduced on the 6th May 2008 to plug a large budget deficit in the island's government budget.^ The dealers or class of dealers specified in the Fifth Schedule shall be exempt from payment of tax on all sales of goods effected by them subject to such conditions as may be prescribed.
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ Explanation II .- Section 14 deals with goods which have borne sales tax prior to the commencement of this Act.
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ Every dealer shall be liable to pay tax at the rates specified in section 4 of this Act on every sale of goods effected by him .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

.Note 9: In the 2005 Budget, the government announced that GST would be introduced in January 2007. Many details have not yet been confirmed but it has been stated that essential goods and small businesses would be exempted or zero rated.^ Exception to zero rating of goods.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ Zero-rating of exported goods.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ Other zero rated goods.
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

Rates have not yet been established as of June 2007.
Note 10: The President of the Philippines has the power to raise the tax to 12% after January 1, 2006. The tax was raised to 12% on February 1.

VAT registered

VAT registered means registered for VAT purposes, i.e. entered into an official VAT payers register of a country. .Both natural persons and legal entities can be VAT registered.^ Along with the entry in the register the persons shall acquire identification number for the purposes of VAT, in front of which shall be placed the sign "BG".
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

^ (New, SG 45/02) The persons registered according to this law shall be obliged to open "VAT-account" according to art.
  • LAW FOR VALUE ADDED TAX 15 January 2010 1:23 UTC www.bcnl.org [Source type: Original source]

^ Subject to registration under this law shall be every tax non-liable legal person and tax liable person, who is not registered on the grounds of art.
  • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

.Countries that use VAT have established different thresholds for remuneration derived by natural persons/legal entities during a calendar year (or a different period), by exceeding which the VAT registration is compulsory.^ Notwithstanding anything contained in sub-sections (1) to (5) of this section, no person shall be proceeded under these sub-sections if the total amount involved is less than two hundred rupees during the period of a year.
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ Within 14 days from presenting the certificate for registration the person shall be obliged to open a "VAT-account".
  • LAW FOR VALUE ADDED TAX 15 January 2010 1:23 UTC www.bcnl.org [Source type: Original source]

^ The right to choice shall be exercised by submitting the application for change of data and cannot be changed till the last day of the calendar year following the one during which has been exercised the right to choice of para 2.
  • LAW FOR VALUE ADDED TAX 15 January 2010 1:23 UTC www.bcnl.org [Source type: Original source]

.Natural persons/legal entities that are VAT registered are obliged to calculate VAT on certain goods/services that they supply and pay VAT into a particular state budget.^ The supplier delivers the goods or services.
  • Value Added Tax 1997 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ CHANGE IN TERMS OF SUPPLY. (1) This section applies where, in relation to the supply of goods and services by a registered person– .
  • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ A person, not being a registered person, supplies goods and services and represents that tax is payable on that supply; or .
  • Value Added Tax 1997 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

.VAT registered persons/entities are entitled to a VAT deduction under legislative regulations of a particular country.^ The total amount of the deduction to which the person is entitled; .
  • Value Added Tax 1997 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

^ National tax register - for the persons registered under this law on the territory of the country.
  • LAW FOR VALUE ADDED TAX 15 January 2010 1:23 UTC www.bcnl.org [Source type: Original source]

^ I = the amount of the tax credit arising in the tax period to which the person is entitled under section 9 of this Act, adjusted to take into account any adjustments to the tax credit required by section 10 of this Act.
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

.The introduction of a VAT can reduce the cash economy because businesses that wish to buy and sell with other VAT registered businesses must themselves be VAT registered.^ State of a non-resident dealer, who buys or sells goods in Delhi for the purposes of or consequential to his engagement in or in connection with or incidental to or in the course of the business; .
  • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

^ In the UK a company does not have to be VAT registered if it makes less that £64,000 ($120,000) per year, if its over they must be VAT registered.
  • Ubercart European VAT Compatibility | Ubercart 9 February 2010 17:27 UTC www.ubercart.org [Source type: General]

^ Tax invoices - (1) Subject to this section, a registered person making a taxable supply to another registered person must provide the other registered person with a tax invoice within 28 days of the other registered person requesting such a tax invoice.
  • Value Added Tax 1997 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

See also

Notes

  1. ^ "Les recettes fiscales" (in french). Le budget et les comptes de l’État. Minister of the Economy, Industry and Employment (France). 23 February 2009. http://www.performance-publique.gouv.fr/le-budget-et-les-comptes-de-letat/approfondir/les-recettes/les-recettes-fiscales.html. "la TVA représente 130,2 milliards d’euros, soit 52,0 % des recettes fiscales nettes de l’État." 
  2. ^ http://books.google.com/books?id=qnI5E3m09d0C&pg=PA49&sig=9BhW7yeWHCwgn__6YQkjTx3mrk4
  3. ^ http://office.microsoft.com/en-us/products/HA101646121033.aspx
  4. ^ GST in Singapore: Policy Rationale, Implementation Strategy & Technical Design,Singapore Ministry of Finance, October 2004
  5. ^ Carousel fraud 'has cost UK up to £16bn',The Independent, 26 July 2007
  6. ^ Vuoristo, Pekka. "Hallitus sopuun ruan veroalesta", Helsingin Sanomat, 2005-08-266. Retrieved on 2009-08-26.
  7. ^ Sunil Thacker "Taxation in the Gulf: Introduction of a Value Added Tax", Michigan State Journal of International Law, Vol. 17, Issue 3, p. 721, 2008-2009. Retrieved on 2009-11-19.
  8. ^ State Tax Rates, July 14, 2008
  9. ^ Single Business Tax - Outline of the Michigan Tax System, Citizens Research Council of Michigan, January 24, 2007
  10. ^ O'Brien, Michael. Pelosi says new tax is 'on the table'. October 6, 2009. Accessed October 9, 2009.
  11. ^ Ellis, Ryan. Tell Congress That You Don’t Want a VAT Tax on Everything You Buy. October 8, 2009. Accessed October 9, 2009.
  12. ^ http://yle.fi/uutiset/news/2009/09/tax_experts_want_sweeping_changes_in_vat_1013658.html
  13. ^ http://bbjonline.hu/index.php?col=1001&id=49178
  14. ^ http://www.londonstockexchange.com/exchange/prices-and-news/news/market-news/market-news-detail.html?announcementId=10207398
  15. ^ http://www.londonstockexchange.com/exchange/prices-and-news/news/market-news/market-news-detail.html?announcementId=10207398
  16. ^ Ram & McRae's Investors Information Package
  17. ^ VAT in Eilat, ECCB

References

  • Ahmed, Ehtisham and Nicholas Stern. .1991. The Theory and Practice of Tax Reform in Developing Countries (Cambridge University Press).
  • Bird, Richard M. and P.-P. Gendron .1998. “Dual VATs and Cross-border Trade: Two Problems, One Solution?” International Tax and Public Finance, 5: 429-42.
  • Bird, Richard M. and P.-P. Gendron .2000. “CVAT, VIVAT and Dual VAT; Vertical ‘Sharing’ and Interstate Trade,” International Tax and Public Finance, 7: 753-61.
  • Keen, Michael and S. Smith .2000. “Viva VIVAT!” International Tax and Public Finance, 7: 741-51.
  • Keen, Michael and S. Smith .1996. "The Future of Value-added Tax in the European Union," Economic Policy, 23: 375-411.
  • McLure, Charles E. (1993) "The Brazilian Tax Assignment Problem: Ends, Means, and Constraints," in A Reforma Fiscal no Brasil (São Paulo: Fundaçäo Instituto de Pesquisas Econômicas).
  • McLure, Charles E. 2000. “Implementing Subnational VATs on Internal Trade: The Compensating VAT (CVAT),” International Tax and Public Finance, 7: 723-40.
  • Muller, Nichole.^ For the purposes of Subsections (1) and (2), the open market value of a supply includes any value added tax charged under Section 8 on that supply.
    • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

    ^ Section 12(2) repealed and replaced by Value Added Tax (Budget Provisions 2000) Act 1999 (No 23 of 1999), s2(a).
    • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

    ^ Or if I buy something and I need an ivoice for tax purposes, on this invoice I need both my VAT number and Fiscal Code .
    • Ubercart European VAT Compatibility | Ubercart 9 February 2010 17:27 UTC www.ubercart.org [Source type: General]

    2007. Indisches Recht mit Schwerpunkt auf gewerblichem Rechtsschutz im Rahmen eines Projektgeschäfts in Indien, IBL Review, VOL. 12, Institute of International Business and law, Germany.[2]
  • Muller, Nichole. .2007. Indian law with emphasis on commercial legal insurance within the scope of a project business in India.^ Commercial Law is the recipient is registered according to this law or he is a person who registers within the period under Art.
    • LAW FOR VALUE ADDED TAX 15 January 2010 1:23 UTC www.bcnl.org [Source type: Original source]

    .IBL Review, VOL. 12, Institute of International Business and law, Germany.
  • OECD. 2008. Consumption Tax Trends 2008: VAT/GST and Excise Rates, Trends and Administration Issues.^ Commencement day for value added tax.
    • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

    ^ Law for value added tax.
    • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

    ^ Act referred to as Value Added Tax Authorities.
    • DELHI VALUE ADDED TAX ACT, 2004 15 January 2010 1:23 UTC dvat.gov.in [Source type: Original source]

    Paris: OECD.
  • Serra, J. and J. Afonso. 1999. “Fiscal Federalism Brazilian Style: Some Reflections,” Paper presented to Forum of Federations, Mont Tremblant, Canada, October 1999.
  • Sharma, Chanchal kumar 2005. Implementing VAT in India: Implications for Federal Polity. .Indian Journal of Political Science, LXVI (4): 915-934. [ISSN: 00019-5510][3]
  • Shome, Parthasarathi and Paul Bernd Spahn (1996) "Brazil: Fiscal Federalism and Value Added Tax Reform," Working Paper No.^ Commencement day for value added tax.
    • Value Added Tax Act 1998 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

    ^ Law for value added tax.
    • Bulgarian Value Added Tax Act 15 January 2010 1:23 UTC www.skmbg.com [Source type: Original source]

    ^ Imposition of value added tax 11.
    • Value Added Tax 1997 15 January 2010 1:23 UTC www.paclii.org [Source type: Original source]

    11, National Institute of Public Finance and Policy, New Delhi
  • Silvani, Carlos and Paulo dos Santos (1996) "Administrative Aspects of Brazil's Consumption Tax Reform," International VAT Monitor, 7: 123-32.
  • Tait, Alan A. (1988) Value Added Tax: International Practice and Problems (Washington: International Monetary Fund).

External links


Simple English

Value Added Tax is often called by its initial letters "VAT" or “V.A.T.”. It is the English name of a tax that is added to things sold in the European Union. It is like a sales tax that is charged in some US States.

The tax is paid every time goods are sold.

  • The maker charges the wholesaler VAT and pays the tax to the government
  • The wholesaler charges the shop VAT and pays the government the tax less the tax it has already paid to the maker
  • The shop charges customer VAT and pays the government the tax less the tax it has already paid to the wholesaler.

The tax can be complicated to work out, because every business or person has to charge the tax, and have an invoice to show they have paid some tax. The only person who pays the full amount of tax is the customer of the shop.

The government also charges VAT on some services. This is because some companies do not make a thing which can be used (goods) instead they do something to help a customer (that is, provide a service).

For example a garage-owner might sell a spare part for a customer’s car. The garage-owner charges VAT because spare parts are “goods”. If the garage-owner helps the customer by fitting the spare parts into the car, the garage-owner would charge extra for his time, and would also charge VAT on the amount he charged for the service of fitting the parts.


Citable sentences

Up to date as of December 28, 2010

Here are sentences from other pages on Value added tax, which are similar to those in the above article.








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