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 18
Page
... Issues Page 1 2 4 6 669 1. Definitions of taxable transactions and taxable persons .. 2. Invoice requirement / credit mechanism .... 3. Zero - rated items and exemption from the VAT ............ 12 14 4. Treatment of real property . 22 ...
... Issues Page 1 2 4 6 669 1. Definitions of taxable transactions and taxable persons .. 2. Invoice requirement / credit mechanism .... 3. Zero - rated items and exemption from the VAT ............ 12 14 4. Treatment of real property . 22 ...
Page 8
... respect to the business . The bill also would grant the Secretary of the Treasury broad au- thority to issue regulations with respect to the VAT . Effective date The bill would apply to transactions occurring after 8.
... respect to the business . The bill also would grant the Secretary of the Treasury broad au- thority to issue regulations with respect to the VAT . Effective date The bill would apply to transactions occurring after 8.
Page 9
... Issues 1. Definitions of taxable transactions and taxable persons a . In general Under the bill , the VAT would be imposed on each taxable trans- action . The term " taxable transaction " means ( 1 ) the sale of prop- erty in the United ...
... Issues 1. Definitions of taxable transactions and taxable persons a . In general Under the bill , the VAT would be imposed on each taxable trans- action . The term " taxable transaction " means ( 1 ) the sale of prop- erty in the United ...
Page 10
... issues . For instance , certain assets possessing characteristics of both tangibility and intangibility ( such as computer software ) would be difficult to classify for purposes of taxation . Such classifi- cation issues often have ...
... issues . For instance , certain assets possessing characteristics of both tangibility and intangibility ( such as computer software ) would be difficult to classify for purposes of taxation . Such classifi- cation issues often have ...
Page 12
... issues concerning sales of goods or services at less than fair market value ( i.e. , " loss leaders " ) . If a taxable person sold a new product at a deeply discounted price in order to create a market for such a good , it is unclear ...
... issues concerning sales of goods or services at less than fair market value ( i.e. , " loss leaders " ) . If a taxable person sold a new product at a deeply discounted price in order to create a market for such a good , it is unclear ...
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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