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 2
... would allow the exclusion of U.S. savings bond in- terest when the taxpayer pays tuition and required fees of any in- dividual at an eligible educational institution . The bill no longer would limit the provision to payments of ...
... would allow the exclusion of U.S. savings bond in- terest when the taxpayer pays tuition and required fees of any in- dividual at an eligible educational institution . The bill no longer would limit the provision to payments of ...
Page 5
... would not be subject to Federal income tax if , during the year the bond is redeemed , the purchaser pays for quali- fied education expenses of any individual ( e.g. , a relative who is not a dependent of the purchaser ) , provided that ...
... would not be subject to Federal income tax if , during the year the bond is redeemed , the purchaser pays for quali- fied education expenses of any individual ( e.g. , a relative who is not a dependent of the purchaser ) , provided that ...
Page 6
... Bill ) Imposition of the value added tax In general , the bill would impose a VAT on the sale of property and the performance of services in the United States pursuant to a commercial transaction . In addition , a VAT generally would be ...
... Bill ) Imposition of the value added tax In general , the bill would impose a VAT on the sale of property and the performance of services in the United States pursuant to a commercial transaction . In addition , a VAT generally would be ...
Page 7
... would be the fair market value of the property . The bill would provide a special rule for the determination of the taxable amount for sales of certain used consumer goods . If a tax- able person sells tangible personal property that ...
... would be the fair market value of the property . The bill would provide a special rule for the determination of the taxable amount for sales of certain used consumer goods . If a tax- able person sells tangible personal property that ...
Page 8
... bill would utilize the " credit- invoice " method . Thus , any taxable person engaged in a taxable transaction would be required to give the purchaser a tax invoice with respect to the transaction if the taxable person has reason to ...
... bill would utilize the " credit- invoice " method . Thus , any taxable person engaged in a taxable transaction would be required to give the purchaser a tax invoice with respect to the transaction if the taxable person has reason to ...
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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