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 9
Page 6
... consumer ( taking into account the net taxes levied at all stages of production ) would equal 5 percent of the retail value of the property and services . Taxable persons The VAT would be imposed on persons who engage in taxable ...
... consumer ( taking into account the net taxes levied at all stages of production ) would equal 5 percent of the retail value of the property and services . Taxable persons The VAT would be imposed on persons who engage in taxable ...
Page 7
... consumer goods . If a tax- able person sells tangible personal property that was acquired in a nontaxable transaction from an ultimate consumer , the taxable amount would be reduced by the amount paid for the property by the taxable ...
... consumer goods . If a tax- able person sells tangible personal property that was acquired in a nontaxable transaction from an ultimate consumer , the taxable amount would be reduced by the amount paid for the property by the taxable ...
Page 9
... consumer free of duty under the personal exemptions of the United States Tariff Schedules would not be subject to the VAT . " Taxable persons " would mean persons who engage in a business or in a commercial - type transaction . The term ...
... consumer free of duty under the personal exemptions of the United States Tariff Schedules would not be subject to the VAT . " Taxable persons " would mean persons who engage in a business or in a commercial - type transaction . The term ...
Page 13
... consumer to counter the sellers ' incentive not to report sales since the final consumer does not receive a VAT credit.24 Credits should only be available to businesses when purchases are used for business purposes . If final consumers ...
... consumer to counter the sellers ' incentive not to report sales since the final consumer does not receive a VAT credit.24 Credits should only be available to businesses when purchases are used for business purposes . If final consumers ...
Page 15
... a retailer , who in turn sells the goods to consumers for $ 1500 . The results of providing a zero rating at various stages of production are as follows . Production stage Zero Rating for- No one Manu- facturer Retailer 15.
... a retailer , who in turn sells the goods to consumers for $ 1500 . The results of providing a zero rating at various stages of production are as follows . Production stage Zero Rating for- No one Manu- facturer Retailer 15.
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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