Under a single rate consumption-style VAT, which method of calculating tax liability is the best if a
Question:
Under a single rate consumption-style VAT, which method of calculating tax liability is the best if a nation wants to exempt specific commodities, such as unprocessed food or medical drugs? Does the same reasoning apply if a higher rate is desired for luxury items?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (10 reviews)
Under a single rate consumptionstyle Value Added Tax VAT if a nation wants to exempt specific commod...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Value Added Tax A Comparative Approach
ISBN: 9780521616560
1st Edition
Authors: Alan Schenk, Oliver Oldman
Question Posted:
Students also viewed these Business questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Assuming that the credit-subtraction method of calculating tax liability is used, is the GDP, Income, or Consumption VAT most compatible with the simplified bookkeeping used by some small firms? Why?
-
If the goal of a VAT is computational simplicity, which method of calculating tax liability (addition or one of the subtraction methods) is preferable for a consumption-type VAT?
-
Stock W, X and Y have expected returns of 9.0%, 16.1% and 11.3% respectively. Based on this and the attached information, what is the expected return of your portfolio? Stock W X Y Number of Shares...
-
In the search for alternatives to fossil fuels, a prominent contender is switchgrass, a perennial grass that is native to the U.S. plains states. The principal advantage of switchgrass and other...
-
What steps are followed in posting sales returns and allowances from the general journal to the general ledger and accounts receivable ledger?
-
Prepare a cash flow statement for Lee Ltd for the year ended 31 December 2004 as required under FRS 1 using the direct method, together with note 1 to the statement. The profit and loss account,...
-
Boise Bike Corp. manufactures mountain bikes and distributes them through retail outlets in Montana, Idaho, Oregon, and Washington. Boise Bike Corp. had declared the following annual dividends over a...
-
1&3 Benoit Company produces three products-A, B, and C. Data concerning the three products follow (per unit): The company estimates that it can sell 1,000 units of each product per month. The same...
-
What are the best ways to ease the compliance burden on farmers? On small retailers? On artisans who sell primarily to businesses?
-
If a firm builds a plant with its own labor force, how is the price (i.e., the value added) of this labor taken into account in the consumption-style VAT? In an Income VAT? In a GDP VAT?
-
It is found that 28% of orders received by a company are from first-time customers, with the other 72% coming from repeal customers. In addition, 75% of the orders from first-time customers are...
-
What are the types of non-equity entry modes?
-
Write a 1 page paper covering the following topics: The various types of credit The types of fees associated with credit Tips for building and managing a sound credit history Tips for fraud...
-
What are the emerging trends in structural health monitoring utilizing wireless sensor networks and data analytics for early detection of structural defects ?
-
Can you elucidate the principles of sustainable construction practices, including life cycle assessment (LCA) and embodied carbon analysis, in reducing environmental impacts ?
-
Self-Assessment Checklist I identified at least three significant threats to Linux security in an online banking environment. I assessed the feasibility of Linux and an open source infrastructure in...
-
Many states use the Internal Revenue Code as the backbone of their tax code. Determine the level of conformity with the Internal Revenue Code for Nebraska, Kansas, Oklahoma, and Missouri. Compare...
-
You are thinking of investing in one of two companies. In one annual report, the auditors opinion states that the financial statements were prepared in accordance with generally accepted accounting...
-
How do you think a furniture manufacturers buying habits and practices would be affected by the specific type of product to be purchased? Consider fabric for upholstered furniture, a lathe for the...
-
Discuss the importance of target marketing when analyzing organizational markets. How easy is it to isolate homogeneous market segments in these markets?
-
Explain how NAICS codes might be helpful in evaluating and understanding business ma r kets. Give an example.
-
How much is the Estate Tax Due and Payable? * Nama Thay, died on January 10, 2018 had the following data: Cash in Bank Family home 7,500,000 2,500,000 Funeral Expenses 250,000 Judicial Expenses...
-
Consider the negotiated bit rates explained toward the end of the chapter. Is it possible to truly provide a constant bit rate in a packet switched network? Does your answer depend on the network...
-
8-38 [Chapter 8: Dimensioning in AutoCAD] P8-3) Using a CAD package, draw the necessary views and completely dimension the part shown. Do not base your 2-D dimension placement on the 3-D dimensions...
Study smarter with the SolutionInn App