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 10
... permitting the use of property , the granting of a right to the performance of services or 12 Such an exchange presumably would include a like - kind exchange of property which would be tax - free under section 1031 of the Code ...
... permitting the use of property , the granting of a right to the performance of services or 12 Such an exchange presumably would include a like - kind exchange of property which would be tax - free under section 1031 of the Code ...
Page 14
... permitting the exporter to claim a credit for the VAT previously paid on the item being exported ) . Goods , services , or enterprises may be taken out of a VAT system either by providing a zero rating or an exemption . There are signif ...
... permitting the exporter to claim a credit for the VAT previously paid on the item being exported ) . Goods , services , or enterprises may be taken out of a VAT system either by providing a zero rating or an exemption . There are signif ...
Page 23
... permitting refunds for previously paid VAT on the exports . Under the bill , imported property would be sourced where delivery takes place , except that real property would be sourced where the real property is located . Services are ...
... permitting refunds for previously paid VAT on the exports . Under the bill , imported property would be sourced where delivery takes place , except that real property would be sourced where the real property is located . Services are ...
Page 28
... permit certain small businesses to elect not to be treated as a taxable person except with respect to imports and the sale or leasing of real property . If an election is made by a small business , no tax would be imposed on its sales ...
... permit certain small businesses to elect not to be treated as a taxable person except with respect to imports and the sale or leasing of real property . If an election is made by a small business , no tax would be imposed on its sales ...
Page 29
... permit small businesses to elect to be treated as exempt from the VAT , small businesses would likely make the election based on the types of customers they generally deal with , which could increase the distortive effects as compared ...
... permit small businesses to elect to be treated as exempt from the VAT , small businesses would likely make the election based on the types of customers they generally deal with , which could increase the distortive effects as compared ...
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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