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
Results 1-5 of 21
Page
... credit mechanism .... 3. Zero - rated items and exemption from the VAT ............ 12 14 4. Treatment of real property . 22 5. Determination of the location of goods and services ........ 23 6. Treatment of insurance and other finan ...
... credit mechanism .... 3. Zero - rated items and exemption from the VAT ............ 12 14 4. Treatment of real property . 22 5. Determination of the location of goods and services ........ 23 6. Treatment of insurance and other finan ...
Page 6
... ( VAT ) ( title I ) . The bill also would establish a trust fund in the Department of the Treasury that would restrict ... credit for the VAT previously paid by its suppliers on its purchases of goods and services in taxable trans- actions ...
... ( VAT ) ( title I ) . The bill also would establish a trust fund in the Department of the Treasury that would restrict ... credit for the VAT previously paid by its suppliers on its purchases of goods and services in taxable trans- actions ...
Page 7
... VAT The bill would provide various exceptions to the imposition of the VAT . For instance , the bill would impose a ... credit . For purposes of computing percentage depletion , gross income would be reduced by the amount of VAT imposed ...
... VAT The bill would provide various exceptions to the imposition of the VAT . For instance , the bill would impose a ... credit . For purposes of computing percentage depletion , gross income would be reduced by the amount of VAT imposed ...
Page 8
... VAT administrative procedures The " credit - invoice " method The VAT system imposed by the bill would utilize the " credit- invoice " method . Thus , any taxable person engaged in a taxable transaction would be required to give the ...
... VAT administrative procedures The " credit - invoice " method The VAT system imposed by the bill would utilize the " credit- invoice " method . Thus , any taxable person engaged in a taxable transaction would be required to give the ...
Page 10
... VAT , a sale of property would include : ( 1 ) the exchange of property for property 12 or services ; ( 2 ) the ... credit as it existed before the Tax Reform Act of 1986.15 In addition , since the sale of tangible property by a corporation ...
... VAT , a sale of property would include : ( 1 ) the exchange of property for property 12 or services ; ( 2 ) the ... credit as it existed before the Tax Reform Act of 1986.15 In addition , since the sale of tangible property by a corporation ...
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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