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 20
... destination principle that holds that goods and services should be taxed in the jurisdiction of consumption rather than the jurisdiction of origin . Other VAT systems also zero rate exports so that they may enter international trade ...
... destination principle that holds that goods and services should be taxed in the jurisdiction of consumption rather than the jurisdiction of origin . Other VAT systems also zero rate exports so that they may enter international trade ...
Page 23
... destination principle . In order to implement the destination principle , exports must be re- lieved of the domestic VAT and the domestic VAT must be imposed on imports . This treatment of exports and imports is referred to as the ...
... destination principle . In order to implement the destination principle , exports must be re- lieved of the domestic VAT and the domestic VAT must be imposed on imports . This treatment of exports and imports is referred to as the ...
Page 24
... destination principle argues that this transaction should be a taxable transaction . Since the seller of the services may have no other connection with the United States , it may be administratively infeasible either to collect the tax ...
... destination principle argues that this transaction should be a taxable transaction . Since the seller of the services may have no other connection with the United States , it may be administratively infeasible either to collect the tax ...
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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