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
... housing , and medical care . A zero rating would also be provided for farmers , fishermen , mass transit services , exports , interest , and certain transactions with governmental entities and section 501 ( c ) ( 3 ) organizations . The ...
... housing , and medical care . A zero rating would also be provided for farmers , fishermen , mass transit services , exports , interest , and certain transactions with governmental entities and section 501 ( c ) ( 3 ) organizations . The ...
Page 18
... housing would favor those who choose to spend a relatively large proportion of their income on housing and may provide an incentive to increase housing consumption relative to other goods . However , the taxation of housing is a ...
... housing would favor those who choose to spend a relatively large proportion of their income on housing and may provide an incentive to increase housing consumption relative to other goods . However , the taxation of housing is a ...
Page 22
... housing . Under the bill , the sale or lease of housing used as a primary resi- dence would be taxed at a zero rate . Thus , none of the value added with respect to housing used as a primary residence would be sub- ject to tax . 33 The ...
... housing . Under the bill , the sale or lease of housing used as a primary resi- dence would be taxed at a zero rate . Thus , none of the value added with respect to housing used as a primary residence would be sub- ject to tax . 33 The ...
Page 23
... housing . The preferential treatment of principal residences may also reduce economic efficiency . The additional tax incentive for resi- dential housing provided by the bill could encourage the purchase of residential housing beyond ...
... housing . The preferential treatment of principal residences may also reduce economic efficiency . The additional tax incentive for resi- dential housing provided by the bill could encourage the purchase of residential housing beyond ...
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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