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 14
... relief for certain basic necessities such as food , clothing , shelter , or medicine . Cer- tain enterprises ( such as small businesses or farms ) often are ex- empted from the VAT because both the compliance costs of the tax- payer and ...
... relief for certain basic necessities such as food , clothing , shelter , or medicine . Cer- tain enterprises ( such as small businesses or farms ) often are ex- empted from the VAT because both the compliance costs of the tax- payer and ...
Page 15
... relief was granted , either an exemption or a zero rating would produce the same result , as follows . Production ... relief is granted may affect the amount of total taxes collected . A VAT system that zero rates sales at the final ...
... relief was granted , either an exemption or a zero rating would produce the same result , as follows . Production ... relief is granted may affect the amount of total taxes collected . A VAT system that zero rates sales at the final ...
Page 16
... relief granted in Example 2 were in the form of an exemption rather than a zero rating , the results would be as fol- lows : Exemption for- Production stage No one Manufac- turer Retailer Supplier : Gross VAT ..... 100 Credit ...
... relief granted in Example 2 were in the form of an exemption rather than a zero rating , the results would be as fol- lows : Exemption for- Production stage No one Manufac- turer Retailer Supplier : Gross VAT ..... 100 Credit ...
Page 17
... relief from the VAT ( zero rating versus exemp- tion ) raises certain administrative issues . For instance , if the intent of the relief is to ease the administrative burden of a certain class of sellers , the exemption method may be ...
... relief from the VAT ( zero rating versus exemp- tion ) raises certain administrative issues . For instance , if the intent of the relief is to ease the administrative burden of a certain class of sellers , the exemption method may be ...
Page 18
... relief or increased means - tested govern- ment assistance . In addition , those who favor a broad - based VAT argue that providing exclusions from the VAT may create artificial consumer demands for the excluded products or services ...
... relief or increased means - tested govern- ment assistance . In addition , those who favor a broad - based VAT argue that providing exclusions from the VAT may create artificial consumer demands for the excluded products or services ...
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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