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 5
Page 6
... engaged in business transactions , sellers and lessors of real property , and importers . In general , in the case of a sale of property in the United States , the VAT would be imposed on the seller . For property imported into the ...
... engaged in business transactions , sellers and lessors of real property , and importers . In general , in the case of a sale of property in the United States , the VAT would be imposed on the seller . For property imported into the ...
Page 8
... 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 believe that the purchaser is a taxable person . The invoice would be valid only ...
... 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 believe that the purchaser is a taxable person . The invoice would be valid only ...
Page 9
... engaged in by a corporation ( other than an S corporation ) or by any other person engaged in a business . Commercial - type transactions also would include any sale or leasing of real property or any importing of property , whether or ...
... engaged in by a corporation ( other than an S corporation ) or by any other person engaged in a business . Commercial - type transactions also would include any sale or leasing of real property or any importing of property , whether or ...
Page 11
... engaged in as an employ- ee . These services would be incorporated into the value of the goods or services sold by the employer to customers and would be subject to the VAT upon sale . Since services provided by nonemployees would be ...
... engaged in as an employ- ee . These services would be incorporated into the value of the goods or services sold by the employer to customers and would be subject to the VAT upon sale . Since services provided by nonemployees would be ...
Page 21
... engaged in by an entity de- scribed in section 501 ( c ) ( 3 ) of the Code ( i.e. , entities organized and operated for religious , charitable , educational , etc. purposes ) would be zero rated unless such transactions are part of an ...
... engaged in by an entity de- scribed in section 501 ( c ) ( 3 ) of the Code ( i.e. , entities organized and operated for religious , charitable , educational , etc. purposes ) would be zero rated unless such transactions are part of an ...
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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