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 8
Page 9
... collecting the VAT and in operating the DRTF . Debt would be retired by paying off obligations at maturity , or by redeeming or buying obligations before maturity and retiring them ( i.e. , obligations redeemed from the public before ...
... collecting the VAT and in operating the DRTF . Debt would be retired by paying off obligations at maturity , or by redeeming or buying obligations before maturity and retiring them ( i.e. , obligations redeemed from the public before ...
Page 10
... collected and reported on such a transaction without affecting its tax - free status under the income tax . 13 Note , however , that the sale of property to a governmental entity will be zero rated for purposes of the VAT , as further ...
... collected and reported on such a transaction without affecting its tax - free status under the income tax . 13 Note , however , that the sale of property to a governmental entity will be zero rated for purposes of the VAT , as further ...
Page 13
... collected by the seller on the sale of the input to the purchaser . However , regula- tions could waive the invoice ... collecting a VAT is that enforcement is enhanced be- cause invoices are available for audit purposes.23 In addition ...
... collected by the seller on the sale of the input to the purchaser . However , regula- tions could waive the invoice ... collecting a VAT is that enforcement is enhanced be- cause invoices are available for audit purposes.23 In addition ...
Page 15
... collected .......... Exemption Zero rating 0 0 0 0 0 0 120 120 0 0 120 120 120 120 The stage in production at which the VAT relief is granted may affect the amount of total taxes collected . A VAT system that zero rates sales at the ...
... collected .......... Exemption Zero rating 0 0 0 0 0 0 120 120 0 0 120 120 120 120 The stage in production at which the VAT relief is granted may affect the amount of total taxes collected . A VAT system that zero rates sales at the ...
Page 16
... collected ......... 150 150 0 Example 3. If the relief granted in Example 2 were in the form of an exemption rather than a zero rating , the results would be as fol- lows : Exemption for- Production stage No one Manufac- turer Retailer ...
... collected ......... 150 150 0 Example 3. If the relief granted in Example 2 were in the form of an exemption rather than a zero rating , the results would be as fol- lows : Exemption for- Production stage No one Manufac- turer Retailer ...
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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