Value-Added Tax: International Practice and Problems by Alan A. Tait

By Alan A. Tait

This e-book is an exam of VAT. It appears at difficulties and theoretical concepts and power affects, in addition to detailing the sensible facets of enforcing new tax buildings. the writer advances arguments for and opposed to replacement guidelines and illustrates his examine with foreign examples from Europe, Latin the US, Asia, and the Pacific. He means that international locations can examine from each one other’s reviews with VAT.

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Value-Added Tax: International Practice and Problems

This e-book is an exam of VAT. It appears at difficulties and theoretical innovations and strength affects, in addition to detailing the sensible elements of imposing new tax buildings. the writer advances arguments for and opposed to replacement rules and illustrates his examine with overseas examples from Europe, Latin the United States, Asia, and the Pacific.

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Senator William V. , The Business Transfer Tax Act of 1985 (S. 1102) and "The Roth Reforms," speech to the National Press Club, Washington, February 20, 1986. 68). 39 See discussion in Walker and Bloomfield (1987). 40 McLure (1987b, p. 1). 37 ©International Monetary Fund. S. 41 • Liberals oppose the VAT on grounds of regressivity. " • Both liberals and conservatives worry that a VAT would be inflationary. • State and local officials are concerned about a VAT'S intrusion into their traditional preserve for raising revenue.

Evasion is suspected, and exemptions of foods and many services exclude about 40 percent of total private final consumption. Administration is, of course, fairly straightforward in a country of 210,000 where 50 percent of the population lives in the capital city. Although the Federation of Icelandic Industries has supported the VAT, its introduction has been delayed for two reasons. First, trade unions have opposed it because of anticipated unfavorable effects on prices and, second, the administrative problems of monitoring the refunds has caused doubts.

Interestingly enough, Norway is the only country that, having changed from a retail sales tax to a VAT, has considered seriously the possibility of switching back. Many held that the VAT compliance costs were high and the opportunity for fraud greater. However, a Treasury paper13 argued that the VAT fell more certainly on final sales than the retail sales tax, it was more secure (19 percent of the registered firms made 90 percent of the sales), it improved accounting standards, and the possible advantages of the retail sales tax in no way compensated for the transitional costs involved in moving back to a singlestage tax.

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