value added tax
A Dictionary of Business and Management
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2006
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© A Dictionary of Business and Management 2006, originally published by Oxford University Press 2006. (Hide copyright information)
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value added tax (VAT) A charge on
taxable supplies of goods and services made in the UK by a
taxable person in the course or furtherance of a business. Where appropriate, each trader adds VAT to sales and must account to HM Revenue and Customs for the
output tax. The
input tax paid on purchases can be deducted from the output tax due. VAT, indirect taxation that falls on the final customer, was introduced in 1973 when the UK joined the European Economic Community. Unless they are
zero-rated goods and services,
exempt supplies, or taxed at a special rate, all goods and services in the UK now bear VAT at a rate of 17.5%.
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Tax reforms key to global integration, more revenue.(Vision & Associates)
Magazine article from: Vietnam Investment Review; 3/14/2005; ; 700+ words
; ...application time of new taxes, tax payers, tax rates, etc. will be...using certain kinds of taxes are also defined, such...environmental protection tax levied on goods and services...Amendments to tax regulations Value-Added Tax (VAT): goods and...
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 "Economic Review (Kansas City)")
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Consumption taxes: macroeconomic effects and policy issues.
Magazine article from: Economic Review (Kansas City); 3/22/2005; ; 700+ words
; ...perhaps by broadening the tax base and lowering income-tax rates. However, another...replace current income taxes altogether with a consumption tax. Switching the federal...national retail sales tax, a value-added tax, and a consumption...
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Federal estate tax returns, 1998-2000.(Statistical Data Included)
Magazine article from: Statistics of Income. SOI Bulletin; 3/22/2002; ; 700+ words
; ...tax system. This system taxes transfers made by individuals...Skipping Transfer) Tax Return, filed in 1998...estate. Opponents of the tax appealed to the United...Constitutionality of the tax, however, was upheld...death in cases where the value of some assets had subsequently ...
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 "Daily Herald (Arlington Heights, IL)")
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Taxes skyrocket Real estate tax increases follow higher Barrington housing prices.(Neighbor)
Newspaper article from: Daily Herald (Arlington Heights, IL); 9/27/2002; ; 700+ words
; ...estate experts say. Tax bills for Cook County...about low Cook County tax bills and property...been unhappy that taxes on the Cook side...counties." Epperson added that increased property...as well as home values, factor into a homebuyer...homebuyer sees that the value of a ...
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 "Rolling Meadows Review (IL)")
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Tax cap limits levy increases
Newspaper article from: Rolling Meadows Review (IL); 12/21/1995; ; 700+ words
; ...119 million property tax levy last week, which...reflects a reasonable tax increase. But the district...term effects of the tax cap, stunted growth in...additional half-percent is added for new housing development...of equalized assessed value to about $2.13. This...
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 "Capital (Annapolis)")
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How taxes add up
Newspaper article from: Capital (Annapolis); 8/13/2006; 700+ words
; ...subject to state sales tax. Real property taxes A product of tax rates and property values, many real property...on full-market value. To compute the...amounts would be added ($2,754 + $336) to get the final tax bill of $3,090...pay real property taxes to the city and ...
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 "Herald-News (Joliet, IL)")
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EXPLAINING OUR TAX SYSTEM FACTORS
Newspaper article from: Herald-News (Joliet, IL); 8/30/1998; 700+ words
; ...values due to changing "market value." The tax cap law helps to some extent...levy high to get the highest tax rate the law allows. Often...to spend more money but their tax rate will not increase so the...is they are not raising your taxes. However, this does raise...
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Taxes to Be Raised
Newspaper article from: The Washington Post; 12/21/1988; 700+ words
; ...excises. They would keep all taxes well within their historical ranges except the gasoline and energy taxes, which also buy conservation...package requires no new types of tax, like value added taxes, and stays away from issues like...
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Tax Book 2009: Commentary of the Law Relating to Income Tax, Corporation Tax, Capital Gains Tax and VAT.
M2 Presswire; 6/3/2009; 700+ words
; ...examples given throughout - Tax planning tips and traps Key Topics Covered: TAXES CONSOLIDATION ACT 1997...36b Pensions Incentive Tax Credits. Part 37 Administration...Interest On Overdue Tax And Other Sanctions Part...Consolidated Regulations 2001. VALUE-ADDED TAX ACT 1972. ...
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Tax reform plans to simplify, encourage savings, vary greatly.(Originated from Knight-Ridder Newspapers)
Newspaper article from: Knight Ridder/Tribune News Service; 6/8/1995; ; 700+ words
; ...flat tax, a value-added tax or some...switch to a new tax scheme to higher taxes on lower...so cutting taxes on that is...by raising taxes on the middle...different set of tax rules could...sales tax or value-added tax at the...
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Tax Reform Act of 1986
Book article from: Major Acts of Congress
...Act of 1986, the income tax law relied on the concept...taxation, such as a sales or value-added tax base. Nor did the 1986...including: • Excise taxes, such as taxes on gasoline...changes in the federal income tax act consist of the following...
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Taxes, Regressive
Encyclopedia entry from: International Encyclopedia of the Social Sciences
...result in a decline in tax-avoidance practices among...taxpayers. National sales taxes and flat rate income taxes are the most common types of tax reforms that have regressive...economies rely heavily on the value-added tax (VAT), which is...
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Taxes
Encyclopedia entry from: International Encyclopedia of the Social Sciences
...are a large variety of taxes, certain kinds predominate...37 percent of GDP in taxes, slightly more than one-third of tax revenue comes from income taxes; slightly less than...consumption, including value-added taxes remitted by all...
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Sales Taxes
Dictionary entry from: Dictionary of American History
...of collection of the tax in full-cent increments...Several forms of sales taxes have been used abroad...which to deal. The value-added tax has been extensively...adaptation of the value-added tax. Specific sales taxes on selected commodities...
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Value-Added Tax
Encyclopedia entry from: Encyclopedia of Small Business
Value-Added Tax A value-added tax (VAT) is a fee that is assessed against businesses by a government...services — usually any time a product is resold or value is added to it. In many countries this tax is referred to as a Goods and...
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