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 11
Page 6
... sellers and lessors of real property , and importers . In general , in the case of a sale of property in the United States , the VAT would be imposed on the seller . For property imported into the United States , the VAT would be ...
... sellers and lessors of real property , and importers . In general , in the case of a sale of property in the United States , the VAT would be imposed on the seller . For property imported into the United States , the VAT would be ...
Page 8
... seller , the name of the purchaser , the amount of VAT imposed on the sale , and certain other information . The invoice generally would be required to be furnished no later than 15 business days after the tax point of the taxable ...
... seller , the name of the purchaser , the amount of VAT imposed on the sale , and certain other information . The invoice generally would be required to be furnished no later than 15 business days after the tax point of the taxable ...
Page 12
... seller would be required to charge a customer a VAT based on the higher fair market value or make up the shortfall ... sellers of inputs or for VAT paid on import- ed inputs . Although tax would have to be paid by sellers on each 20 See ...
... seller would be required to charge a customer a VAT based on the higher fair market value or make up the shortfall ... sellers of inputs or for VAT paid on import- ed inputs . Although tax would have to be paid by sellers on each 20 See ...
Page 13
... seller on the sale of the input to the purchaser . However , regula- tions could waive the invoice requirement where ... sellers to underreport sales and reduce taxes will be offset by the incentive of purchasers to report sales at their ...
... seller on the sale of the input to the purchaser . However , regula- tions could waive the invoice requirement where ... sellers to underreport sales and reduce taxes will be offset by the incentive of purchasers to report sales at their ...
Page 14
... sellers may not claim any re- funds of the VAT they may have paid on their purchases . Examples of zero rating and exemption Whether a sale is zero rated or exempted from the VAT will have different effects upon the seller and the ...
... sellers may not claim any re- funds of the VAT they may have paid on their purchases . Examples of zero rating and exemption Whether a sale is zero rated or exempted from the VAT will have different effects upon the seller and the ...
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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