Download or read book an analysis of south africa s value added tax written by and published by World Bank Publications. This book was released on 2005 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Modelling Value added Tax VAT in South Africa written by Rebone Gcabo and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Using SAMOD, a tax-benefit microsimulation model for South Africa, this paper examines the joint distributional impact of the increase in the value-added tax (VAT) rate and increases in benefit amounts in 2018. Although poverty and inequality did not increase overall, the poorest still saw a reduction in their purchasing power, as many of those in the lowest decile do not receive any social benefits. The paper then explores the consequences of eliminating zero-rating in VAT and using the generated revenues to finance new social benefits. The results suggest that a policy package of a uniform VAT and an expanded set of social benefits would lead to reduced poverty and inequality in comparison to the current practice of zero rating of some consumption goods in the VAT. The findings demonstrate the superiority of using direct taxes and benefits as opposed to provisions in indirect taxes in achieving redistribution.
Download or read book VAT in Africa written by Richard E. Krever and published by PULP. This book was released on 2008 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Collection of articles reviewing the experience of the implementation of VAT in Africa. Besides analyses, the articles offer guidelines for reforming and improving both technical and administrative aspects of the tax. The several chapters consider design and structure of the VAT, VAT and specific factors, administrative aspects of VAT, Inter-jurisdictional and international aspects of VAT, and VAT and Francophone Africa.
Download or read book An Analysis of South Africa s Value Added Tax written by Delfin S. Go and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, the authors describe South Africa's value added tax (VAT), showing that (1) the VAT is mildly regressive, and (2) it is an effective source of government revenue, compared with other tax instruments in South Africa. They evaluate the VAT in the context of other distortions in the economy by computing the marginal cost of funds-the effect of raising government revenue by increasing the VAT rates on household welfare. Then they evaluate alternative, revenue-neutral tax systems in which they reduce the VAT and raise income taxes. For the analysis, the authors use a computable general equilibrium (CGE) model with detailed specification of South Africa's tax system. Households are disaggregated into income deciles. They demonstrate that alternative tax structures can benefit low-income households without placing excess burdens on high-income households.
Download or read book South Africa written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2015-07-10 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Assistance Report discusses the results of applying the value-added tax (VAT) gap estimation methodology of the Revenue Administration Gap Analysis Program (RA-GAP) to South Africa for the period 2007–12. It is found that the compliance gap is estimated to be between 5 percent and 10 percent of potential VAT revenues during the period 2007–12, and peaking in 2008 and 2009. The estimated compliance gap for VAT in South Africa between 2007 and 2012 is hump-shaped. The results also reveal that the level of the VAT policy gap in South Africa is low by international standards, owing to its simple VAT policy structure.
Download or read book Modernizing VATs in Africa written by Sijbren Cnossen and published by Oxford University Press. This book was released on 2019-07-16 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most African countries are in dire need of more tax revenue. In 28 out of 45 countries with a value-added tax (VAT), total tax revenue as a percentage of GDP is around 15% or less, falling short of what is necessary to finance basic human and economic development. Far from being revenue-raising instruments, current African VATs are riddled with exemptions, exclusions, and zero rates on domestic goods and services that depress revenue, are highly distortionary, and greatly complicate the administration of VAT. Modernizing VATs in Africa enables policymakers, professionals, and students to analyse African tax systems to ascertain how they can be modernized. It explains the case for VAT base-broadening over rate-increasing, arguing that exemptions and zero rates mainly accrue benefits for higher-income groups. Even more persuasively, it demonstrates that the net result of fiscal systems can be equalizing if the revenue of broad-based VATs is used to finance in-kind transfers, such as healthcare and education. VAT modernization should be used to enable governments to finance development; Modernizing VATs in Africa puts a compelling case forward for how and why this can be achieved.
Download or read book South Africa written by International Monetary Fund and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Assistance Report discusses the results of applying the value-added tax (VAT) gap estimation methodology of the Revenue Administration Gap Analysis Program (RA-GAP) to South Africa for the period 2007-12. It is found that the compliance gap is estimated to be between 5 percent and 10 percent of potential VAT revenues during the period 2007-12, and peaking in 2008 and 2009. The estimated compliance gap for VAT in South Africa between 2007 and 2012 is hump-shaped. The results also reveal that the level of the VAT policy gap in South Africa is low by international standards, owing
Download or read book A Tax Policy Analysis of the 2018 Value Added Tax Rate Increase in South Africa written by Candice Gardiner and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this dissertation I explore the background of Value-Added Tax (VAT) and how this indirect tax plays a role in the economy, and the enormous reliance which the government has on the income therefrom. This tax is divided into output tax, which is defined as the tax charged by any vendor on the goods or services supplied by that vendor in the furtherance of any enterprise carried on by him, and input tax which is defined as the tax payable by a vendor when goods or services are acquired by him wholly for the purposes of consumption, use or supply in the course of making taxable supplies. In order to calculate and determine the amount of VAT which is payable, you deduct input tax from output tax liability. This is vital as this determines whether the supplier will be allowed to claim VAT back from the government in terms of the supplies made. VAT, in South Africa, has remained unchanged at 14% for over a decade, however, the 2018 budget speech provided that the VAT rate will increase by 1%, to 15%. The aim of this increase is to raise revenue due to the budget deficit incurred over a number of years, which could be attributed to the government's corruption, reckless expenditure, illegitimate contracts, and most importantly poor financial management. Considering the skewed distribution of income in South Africa, this VAT increase adversely affects poor households. Statistics are provided in this dissertation to show how social grants do not adequately support people's needs and, even though there has been an increase in these grants to reduce the burden on the poor, it is still not adequate for households to support and feed their families. After having done a comparative study between South Africa and Denmark, this dissertation shows that Denmark's current VAT rate is 25%. Denmark's VAT rate is significantly higher than South Africa's. Denmark however provides services to taxpayers which include free education, health care and transportation. These types of services delivered have alleviated the stress on these taxpayers to afford such services which has resulted in little to no crime in Denmark. The Danish government provides many basic services and is largely transparent which makes the high VAT rate justifiable. After analysing the Danish system, this dissertation argues that South Africa's increased VAT rate cannot be justified because the South African government does not deliver services to the same extent as countries with higher VAT rates do.
Download or read book The VAT Treatment of imported Services written by Mervyn Dendy and published by . This book was released on 2012 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Section 11(2)(k) of the Value-Added Tax Act 89 of 1991 provides for the zero-rating of a supply of services where the services are physically rendered outside the Republic. In this monograph, the author analyses that provision and other relevant sections of the VAT Act, with a view to determining whether it is possible for 'imported services' falling within the ambit section 7(1)(c) of the Act where work is performed outside the Republic but the product of that work (for example a computer program) is supplied to a South African consumer for use within the Republic otherwise than in the making of taxable supplies. The meaning of the word 'rendered' in section 11(2)(k) is determined in the light of the governing rules of statutory interpretation, after which the controversial decisions in ITC 1812 and Metropolitan Life Ltd v Commissioner for South African Revenue Service are subjected to detailed and penetrating analysis in order to assess whether section 11(2) as a whole can, contrary to those decisions, apply to 'imported services'."--Back cover.
Download or read book An Analysis of South Africa s Value Added Tax written by and published by . This book was released on 2005 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Deloitte Value added Tax Handbook written by and published by Butterworth-Heinemann. This book was released on 2009-01-01 with total page 684 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International VAT GST Guidelines written by and published by . This book was released on 2017 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value Added Tax (VAT; also known as Goods and Services Tax, under the acronym GST in a number of OECD countries) has become a major source of revenue for governments around the world. Some 165 countries operated a VAT at the time of the completion of the International VAT/GST Guidelines in 2016, more than twice as many as 25 years before. As VAT continued to spread across the world, international trade in goods and services has also expanded rapidly in an increasingly globalised economy. One consequence of these developments has been the greater interaction between VAT systems, along with growing risks of double taxation and unintended non-taxation in the absence of international VAT co-ordination. The International VAT/GST Guidelines now present a set of internationally agreed standards and recommended approaches to address the issues that arise from the uncoordinated application of national VAT systems in the context of international trade. They focus in particular on trade in services and intangibles, which poses increasingly important challenges for the design and operation of VAT systems worldwide. They notably include the recommended principles and mechanisms to address the challenges for the collection of VAT on cross-border sales of digital products that had been identified in the context of the OECD/G20 Project on Base and Erosion and Profit Shifting (the BEPS Project). These Guidelines were adopted as a Recommendation by the Council of the OECD in September 2016.
Download or read book Value Added Tax VAT in SADC written by Hoster Bebi and published by . This book was released on 2001 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Report of the Value added Tax Committee VATCOM written by South Africa. Value-Added Tax Committee and published by . This book was released on 1991 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book VAT Revenue Simulation Model for Tax Reform in Developing Countries written by Glenn P. Jenkins and published by . This book was released on 1995 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Value Added Tax and Growth Design Matters written by Mr.Santiago Acosta Ormaechea and published by International Monetary Fund. This book was released on 2019-05-07 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does the design of a tax matter for growth? Assembling a novel dataset for 30 OECD countries over the 1970-2016 period, this paper examines whether the value added tax (VAT) may have different effects on long-run growth depending on whether it is raised through the standard rate or through C-efficiency (a measure of the departure of the VAT from a perfectly enforced tax levied at a single rate on all consumption). Our key findings are twofold. First, for a given total tax revenue, a rise in the VAT, financed by a fall in income taxes, promotes growth only when the VAT is raised through C-efficiency. Second, for a given VAT revenue, a rise in Cefficiency, offset by a fall in the standard rate, also promotes growth. The implication is thus that in OECD countries broadening the VAT base through fewer reduced rates and exemptions is more conducive to higher long-run growth than a rise in the standard rate.
Download or read book Restructuring Value added Tax in South Africa written by Marna Kearney and published by . This book was released on 2003 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt:
