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 13
Page 7
... treated as a refundable overpayment of tax . Generally , in order to claim a credit , the taxable person would be required to have an in- voice that indicates the amount of VAT paid . 11 In a zero - rated transaction , a rate of 0 ...
... treated as a refundable overpayment of tax . Generally , in order to claim a credit , the taxable person would be required to have an in- voice that indicates the amount of VAT paid . 11 In a zero - rated transaction , a rate of 0 ...
Page 8
... treat all businesses under common control ( as defined by section 52 ( b ) of the Code ) as one taxable person for pur- poses of the VAT . However , for purposes of the small business ex- emption , all businesses under common control ...
... treat all businesses under common control ( as defined by section 52 ( b ) of the Code ) as one taxable person for pur- poses of the VAT . However , for purposes of the small business ex- emption , all businesses under common control ...
Page 10
... treated as the taxable performance of services would include ( but would not be limited to ) 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 ...
... treated as the taxable performance of services would include ( but would not be limited to ) 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 ...
Page 11
... treat the licensing of in- tangible property to be the taxable performance of a service . Other VAT systems would ... treated as a taxable person with respect to activities engaged in as an employ- ee . These services would be ...
... treat the licensing of in- tangible property to be the taxable performance of a service . Other VAT systems would ... treated as a taxable person with respect to activities engaged in as an employ- ee . These services would be ...
Page 12
... treat the personal use of business property or services by an owner of the business as a taxable transaction sub- ject to the VAT at the fair market value of the property or serv- ices . Such treatment is consistent with the treatment ...
... treat the personal use of business property or services by an owner of the business as a taxable transaction sub- ject to the VAT at the fair market value of the property or serv- ices . Such treatment is consistent with the treatment ...
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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