So much for encouraging efficiency
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From: New Jersey
Active Enthusiast
Joined: May 2008
Posts: 196
From: Winnipeg, CANADA
Re: So much for encouraging efficiency
VAT is Value Added Tax, or in Canada we have the GST which stands for the Goods and Services Tax.
This type of tax is added at each step of the procurement chain so an example a car dealership would pay the GST on all of their purchases whether it be a car, parts, or stationary. When they sell the car or parts, they charge the next consumer the GST and they then get to claim back the GST they paid on that item. Since the stationary is for the dealerships use, they would not get a refund on that tax as they are the 'consumer' of that product.
What little I've read, the British VAT operates in a similar fashion.
This type of tax is added at each step of the procurement chain so an example a car dealership would pay the GST on all of their purchases whether it be a car, parts, or stationary. When they sell the car or parts, they charge the next consumer the GST and they then get to claim back the GST they paid on that item. Since the stationary is for the dealerships use, they would not get a refund on that tax as they are the 'consumer' of that product.
What little I've read, the British VAT operates in a similar fashion.
Active Enthusiast
Joined: Jan 2009
Posts: 101
From: Yucaipa, CA
Re: So much for encouraging efficiency
VAT is Value Added Tax, or in Canada we have the GST which stands for the Goods and Services Tax.
This type of tax is added at each step of the procurement chain so an example a car dealership would pay the GST on all of their purchases whether it be a car, parts, or stationary. When they sell the car or parts, they charge the next consumer the GST and they then get to claim back the GST they paid on that item. Since the stationary is for the dealerships use, they would not get a refund on that tax as they are the 'consumer' of that product.
What little I've read, the British VAT operates in a similar fashion.
This type of tax is added at each step of the procurement chain so an example a car dealership would pay the GST on all of their purchases whether it be a car, parts, or stationary. When they sell the car or parts, they charge the next consumer the GST and they then get to claim back the GST they paid on that item. Since the stationary is for the dealerships use, they would not get a refund on that tax as they are the 'consumer' of that product.
What little I've read, the British VAT operates in a similar fashion.
Active Enthusiast
Joined: Apr 2008
Posts: 111
From: Phoenix
Re: So much for encouraging efficiency
ISTR an article last week that said this was one of those ideas tossed out by some screwball that was promptly shot down for being blatant idiocy . Now some wingnut gets ahold of it and starts screaming "Libruls wanna eet r baybees!!!!!" over it.
Let's just give it the attention it deserves. None.
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It is said that the wages of sin is death, but by the time they're through with taxes, it's just a tired feeling.
Let's just give it the attention it deserves. None.
-------------------------------------------------------------------------------
It is said that the wages of sin is death, but by the time they're through with taxes, it's just a tired feeling.
Pretty Darn Active Enthusiast
Joined: Dec 2006
Posts: 407
From: Out there somewhere
Re: So much for encouraging efficiency
VAT is Value Added Tax, or in Canada we have the GST which stands for the Goods and Services Tax.
This type of tax is added at each step of the procurement chain so an example a car dealership would pay the GST on all of their purchases whether it be a car, parts, or stationary. When they sell the car or parts, they charge the next consumer the GST and they then get to claim back the GST they paid on that item. Since the stationary is for the dealerships use, they would not get a refund on that tax as they are the 'consumer' of that product.
What little I've read, the British VAT operates in a similar fashion.
This type of tax is added at each step of the procurement chain so an example a car dealership would pay the GST on all of their purchases whether it be a car, parts, or stationary. When they sell the car or parts, they charge the next consumer the GST and they then get to claim back the GST they paid on that item. Since the stationary is for the dealerships use, they would not get a refund on that tax as they are the 'consumer' of that product.
What little I've read, the British VAT operates in a similar fashion.
Just an FYI, the UK VAT tax is 17.5%
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