Description of Tax Bills: S. 353 (educational Savings Bonds); S. 442 (value Added Tax); S. 659, S. 838, S. 849 (estate Freezes); and S. 800 (moratorium on Certain State Tax Laws) : Scheduled for a Hearing Before the Senate Committee on Finance on May 17, 1989U.S. Government Printing Office, 1989 - 35 pages |
From inside the book
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Page 6
... United States pursuant to a commercial transaction . In addition , a VAT generally would be im- posed upon any sale ... United States , the VAT would be imposed on the seller . For property imported into the United States , the VAT would ...
... United States pursuant to a commercial transaction . In addition , a VAT generally would be im- posed upon any sale ... United States , the VAT would be imposed on the seller . For property imported into the United States , the VAT would ...
Page 8
... United States . Time for filing return and claiming the credit The bill would require the taxable person to file a VAT return during the first month following the close of the taxable period . The taxable period generally would be a ...
... United States . Time for filing return and claiming the credit The bill would require the taxable person to file a VAT return during the first month following the close of the taxable period . The taxable period generally would be a ...
Page 9
... United States , ( 2 ) the performance of services in the United States , and ( 3 ) the importing of property into the United States , by a taxable person in a commercial - type transaction . A " commercial - type transaction " would ...
... United States , ( 2 ) the performance of services in the United States , and ( 3 ) the importing of property into the United States , by a taxable person in a commercial - type transaction . A " commercial - type transaction " would ...
Page 23
... United States , the performance of services in the United States , and the importation of property into the United States . Exports would be subject to tax at a zero rate . A VAT can be designed on the origination principle , whereby ...
... United States , the performance of services in the United States , and the importation of property into the United States . Exports would be subject to tax at a zero rate . A VAT can be designed on the origination principle , whereby ...
Page 24
... United States for use abroad ought to be exempt from tax under a strict interpretation of the destination principle ... United States , the bill would provide that the service would be sourced in the United States if 50 percent or more ...
... United States for use abroad ought to be exempt from tax under a strict interpretation of the destination principle ... United States , the bill would provide that the service would be sourced in the United States if 50 percent or more ...
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Common terms and phrases
activities addition amount of VAT bill would provide border tax adjustment calendar quarter claim a credit commercial-type transaction consumer corporation December 31 deposits destination principle determine Educational Savings Bonds EE savings bonds effective date employee estate freeze example exclusion exempt Exon exports fair market value farmers governmental entities grocery store Gross VAT higher education expenses housing impose a VAT intangible property interest Internal Revenue Code Internal Revenue Service legislation nonbusiness real property performance of services plumber preferred stock premiums previously paid primary residence property or services provide a zero provided in regulations rate of tax retail sale of property section 135 seller Series EE savings services provided small businesses stage of production subject to tax tax point taxable amount taxable person taxable transactions taxation taxpayer tion transfer United Value Added Tax VAT credit VAT imposed VAT liability VAT paid VAT system zero rating zero-rated