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 7
... farmers , fishermen , mass transit services , exports , interest , and certain transactions with governmental entities and section 501 ( c ) ( 3 ) organizations . The bill also would provide a de minimis exemption from the VAT that may ...
... farmers , fishermen , mass transit services , exports , interest , and certain transactions with governmental entities and section 501 ( c ) ( 3 ) organizations . The bill also would provide a de minimis exemption from the VAT that may ...
Page 12
... farmers and fishermen on the personal use of their own produce . 21 2. Invoice requirement / credit mechanism Under the bill , business purchasers would receive tax credits for VAT paid by domestic sellers of inputs or for VAT paid on ...
... farmers and fishermen on the personal use of their own produce . 21 2. Invoice requirement / credit mechanism Under the bill , business purchasers would receive tax credits for VAT paid by domestic sellers of inputs or for VAT paid on ...
Page 14
... farms ) often are ex- empted from the VAT because both the compliance costs of the tax- payer and the administrative costs of the government are consid- ered to outweigh the benefits of additional tax collections . Other goods or ...
... farms ) often are ex- empted from the VAT because both the compliance costs of the tax- payer and the administrative costs of the government are consid- ered to outweigh the benefits of additional tax collections . Other goods or ...
Page 19
... farmers and their products the same as other segments of the econ- omy . The report suggests that it may be appropriate to exempt farmers from the VAT since including the large number of small farmers in the VAT system would tend to ...
... farmers and their products the same as other segments of the econ- omy . The report suggests that it may be appropriate to exempt farmers from the VAT since including the large number of small farmers in the VAT system would tend to ...
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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