Dissatisfaction with the fed. tax system has led t

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Value-Added Taxes: Lessons Learned from Other Countries on Compliance Risks, Administrative Costs, Compliance Burden, and Transition

Dissatisfaction with the fed. tax system has led t

Our Price: $30.00

By James R. White (au)
Year: 2008
Pages: 61
Binding Paperback

Product Code: 1437905404

Description

Dissatisfaction with the fed. tax system has led to a debate about U.S. tax reform, incl. proposals for a nat. consumption tax. One type of proposed consumption tax is a value-added tax (VAT). A VAT is levied on the difference between a bus. sales and its purchases of goods and services. Typically, a bus. calculates the tax due on its sales, subtracts a credit for taxes paid on its purchases, and remits the difference to the gov’t. This report describes: (1) how VAT design choices, such as exemptions and enforcement mechanisms, have affected compliance, admin. costs, and compliance burden; (2) how countries with fed. systems administer a VAT; and (3) how countries that recently transitioned to a VAT implemented the new tax. Charts.

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