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 7
... VAT The bill would provide various exceptions to the imposition of the VAT . For instance , the bill would impose a ... liability , with any excess treated as a refundable overpayment of tax . Generally , in order to claim a credit , the ...
... VAT The bill would provide various exceptions to the imposition of the VAT . For instance , the bill would impose a ... liability , with any excess treated as a refundable overpayment of tax . Generally , in order to claim a credit , the ...
Page 8
... VAT administrative procedures The " credit - invoice " method The VAT system imposed by the bill would utilize the ... liability for any taxable period . A VAT credit with respect to a taxable transaction would be al- lowed no earlier ...
... VAT administrative procedures The " credit - invoice " method The VAT system imposed by the bill would utilize the ... liability for any taxable period . A VAT credit with respect to a taxable transaction would be al- lowed no earlier ...
Page 12
... VAT liability ( after taking into account the VAT credit ) on the amount of value the corporation had had added to the inventory . Other VAT systems either impose no tax when property or services are transferred at no cost or impose a ...
... VAT liability ( after taking into account the VAT credit ) on the amount of value the corporation had had added to the inventory . Other VAT systems either impose no tax when property or services are transferred at no cost or impose a ...
Page 13
... VAT credit would be used to reduce VAT liability . If VAT credits exceeded VAT liability , an amount equal to that excess is refunded to the taxpayer . In order to receive a credit , a business purchaser would be re- quired to possess ...
... VAT credit would be used to reduce VAT liability . If VAT credits exceeded VAT liability , an amount equal to that excess is refunded to the taxpayer . In order to receive a credit , a business purchaser would be re- quired to possess ...
Page 18
... VAT , including income tax relief or increased means - tested govern- ment assistance . In addition , those who ... liability at the point of purchase , however , may be viewed as burdensome and may discriminate between existing home owners ...
... VAT , including income tax relief or increased means - tested govern- ment assistance . In addition , those who ... liability at the point of purchase , however , may be viewed as burdensome and may discriminate between existing home owners ...
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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