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 7
... governmental entities and section 501 ( c ) ( 3 ) organizations . The bill also would provide a de minimis exemption from the VAT that may be elected by certain small businesses . Special rules and treatment of certain transactions The ...
... governmental entities and section 501 ( c ) ( 3 ) organizations . The bill also would provide a de minimis exemption from the VAT that may be elected by certain small businesses . Special rules and treatment of certain transactions The ...
Page 10
... governmental entity ; 13 and ( 4 ) a sale of property by a governmental entity or by certain tax- exempt entities . 14 The bill would define " property " to mean any tangible property . Thus , the sale of such intangible property as ...
... governmental entity ; 13 and ( 4 ) a sale of property by a governmental entity or by certain tax- exempt entities . 14 The bill would define " property " to mean any tangible property . Thus , the sale of such intangible property as ...
Page 20
... Government activities Under the bill , sales to government entities would be zero rated . The providing of property or services by a governmental entity in connection with the education of students would also be zero rated . In addition ...
... Government activities Under the bill , sales to government entities would be zero rated . The providing of property or services by a governmental entity in connection with the education of students would also be zero rated . In addition ...
Page 21
... governmental entity may be viewed as if in competition with a private enterprise that offers the same service . It may be appropriate to subject such a sale to the VAT . Finally , intergovern- mental relationship issues arise if a State ...
... governmental entity may be viewed as if in competition with a private enterprise that offers the same service . It may be appropriate to subject such a sale to the VAT . Finally , intergovern- mental relationship issues arise if a State ...
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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