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 |
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Page 17
... countries provide some sort of relief for purchases of food , generally on the grounds of the regressivity of the VAT . Those who favor a tax on all consumption argue that an exclusion for food ( as well as other items normally ...
... countries provide some sort of relief for purchases of food , generally on the grounds of the regressivity of the VAT . Those who favor a tax on all consumption argue that an exclusion for food ( as well as other items normally ...
Page 23
... countries , border tax adjustments also ensure that value added taxes do not distort international trade and leads to neither tax- ation in multiple jurisdictions nor exemption from VAT in any ju- risdiction . For purposes of performing ...
... countries , border tax adjustments also ensure that value added taxes do not distort international trade and leads to neither tax- ation in multiple jurisdictions nor exemption from VAT in any ju- risdiction . For purposes of performing ...
Page 24
... countries differ somewhat in their sourcing of services . The Sixth Directive of the European Commu- nities generally provides for sourcing the service in the country where the supplier is established . 34 Under the directive , however ...
... countries differ somewhat in their sourcing of services . The Sixth Directive of the European Commu- nities generally provides for sourcing the service in the country where the supplier is established . 34 Under the directive , however ...
Page 25
... countries that currently impose a VAT provide an exemption for insurance and the lending activities of financial institutions . 35 The principal ar- 35 All countries that are members of the European Economic Community ( EEC ) provide a ...
... countries that currently impose a VAT provide an exemption for insurance and the lending activities of financial institutions . 35 The principal ar- 35 All countries that are members of the European Economic Community ( EEC ) provide a ...
Page 28
... countries that impose a VAT on insurance treat insurance services as occurring where the risk is located . Consequently , if a U.S. person insures a foreign risk , no VAT would be imposed on the transaction . Conversely , if a foreign ...
... countries that impose a VAT on insurance treat insurance services as occurring where the risk is located . Consequently , if a U.S. person insures a foreign risk , no VAT would be imposed on the transaction . Conversely , if a foreign ...
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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