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 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 Virtues and Fallacies of VAT written by Robert F. van Brederode and published by . This book was released on 2021-08-09 with total page 728 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value-added tax (VAT) is a mainstay of revenue systems in more than 160 countries. Because consumption is a more stable revenue base than other tax bases, VAT is less distorting and hence more likely to encourage investment, savings, optimum labor supply decisions, and growth. VAT is not without criticism however, and faces its own specific technical and policy challenges. This book, the first to thoroughly evaluate VAT from a global policy perspective after over 50 years of experience with its intricacies, offers authoritative perspectives on VAT's full spectrum--from its signal successes to the subtle ways its application can undermine revenue performance and economic neutrality. The contributors--leading tax practitioners and academics--examine the key policy issues and topics that are crucially relevant for measuring the success of the tax in the first part of the book, including: revenue generation and revenue efficiency; single rate versus multiple rates; susceptibility to fraud; exemptions and exceptions; compliance cost for businesses; policy and compliance gaps in revenue collection; adjustment rules caused by the transactional nature of the tax; transfer pricing issues; treatment of vouchers; permanent establishments and holding companies; payment of refunds; cross-border digital transactions; and supplies for free or below cost price. The second part offers six country reports--on New Zealand, Japan, China, Colombia, Ethiopia, and India--to demonstrate the different ways in which VAT operates in a variety of national economies. Whether a government is contemplating the imposition of a general consumption tax for the first time or new rules for applying an existing one, it is important for policymakers to keep central the aim to design a tax that realizes optimal efficiency and causes minimal distortions. This invaluable book serves as an expert guide to VAT policy development in this area. It will be welcomed not only by concerned government officials but also by tax professionals (both lawyers and accountants) and academics in tax law.
Download or read book A U S Value Added Tax written by Christopher M. Towe and published by International Monetary Fund. This book was released on 1995-06 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews issues related to the introduction of a value-added tax in the United States. In particular, the paper distinguishes between European-styled value-added taxes that are levied similarly to sales taxes, and value-added taxes that are levied through the business and personal income tax systems. The costs and benefits of such taxes, including their potential yield, are then discussed.
Download or read book How to Manage Value Added Tax Refunds written by Mario Pessoa and published by International Monetary Fund. This book was released on 2021-05-10 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The value-added tax (VAT) has the potential to generate significant government revenue. Despite its intrinsic self-enforcement capacity, many tax administrations find it challenging to refund excess input credits, which is critical to a well-functioning VAT system. Improperly functioning VAT refund practices can have profound implications for fiscal policy and management, including inaccurate deficit measurement, spending overruns, poor budget credibility, impaired treasury operations, and arrears accumulation.This note addresses the following issues: (1) What are VAT refunds and why should they be managed properly? (2) What practices should be put in place (in tax policy, tax administration, budget and treasury management, debt, and fiscal statistics) to help manage key aspects of VAT refunds? For a refund mechanism to be credible, the tax administration must ensure that it is equipped with the strategies, processes, and abilities needed to identify VAT refund fraud. It must also be prepared to act quickly to combat such fraud/schemes.
Download or read book International VAT GST Guidelines written by Collectif and published by OECD. This book was released on 2017-04-12 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 The Value added Tax written by Henry J. Aaron and published by . This book was released on 1981 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph of conference papers providing a comparison of value added tax experiences and fiscal policy issues in six Western European countries - discusses transition to VAT and current structures, tax collection, income distribution effects, economic implications for consumer expenditure, consumer prices, trade, investment, etc., and lessons for the USA. References and statistical tables. List of participants. Conference held in Washington 1980 Oct.
Download or read book The Rise of the Value Added Tax written by Kathryn James and published by Cambridge University Press. This book was released on 2015-04-30 with total page 495 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explores how the value-added tax (VAT) has risen from relative obscurity to become one of the world's most dominant revenue instruments.
Download or read book Tax Policy written by and published by . This book was released on 1989 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Value Added Tax Orthodoxy and New Thinking written by Murray L. Weidenbaum and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: IF, WHEN YOU SAY "CONSUMPTION TAX , " YOU MEAN . . . by Ernest S. Christian, Jr. and Cliff Massa III Much has been said and written about consumption taxes in the United States, but mostly in a theoretical context. Dozens of schol arly treatises have been published, along with innumerable papers and speeches most of which were more argumentative than illumi nating in nature. Audiences have sat through uncounted confer ences on the merits or evils of consumption taxes, depending on the speakers' perspectives. There have been only three comprehensive legislative proposals to which these theories and arguments could be 1 applied, no one of which was acted upon in the Congress. Purveyors of conventional wisdom have suggested that this theo retical context might be replaced within a year or two by actual con sideration of a federal-level consumption tax. Some see enactment of such a tax as a desirable -- or at least a necessary -- means for reducing the federal deficit. The National Economic Commission, which was created by legislation in 1987 to recommend deficit reduction measures, was perceived by many skeptics and proponents alike to be the Trojan Horse which would carry a consumption tax Lrhe proposals were H. R. 7015, ''The Tax Restructuring Act of 1980," introduced by Rep. Al Ullman; S. 1102, ''The Business Transfer Tax Act of 1985," introduced by Senator William Roth; and H. R. 4598, introduced by Rep.
Download or read book Progressive Consumption Taxation written by Robert Carroll and published by Rowman & Littlefield. This book was released on 2012 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors observe that consumption taxation is superior to income taxation because it does not penalize saving and investment and propose that the U.S. income tax system be completely replaced by a progressive consumption tax. They argue that the X tax, developed by the late David Bradford, offers the best form of progressive consumption taxation for the United States and outline concrete proposals for the X tax's treatment of numerous specific economic issues.
Download or read book Effects of Adopting a Value added Tax written by Jon Hakken and published by . This book was released on 1992 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: I. Introduction -- II. How a VAT works -- III. Base of a value-added tax -- IV. Who bears the burden of a VAT? -- V. Economic effects of a VAT -- VI. Costs of administering and complying with a VAT -- VII. Direct consumption tax as an alternative to a VAT.
Download or read book Targeting Cascading and Indirect Tax Design written by Mr.Michael Keen and published by International Monetary Fund. This book was released on 2013-02-28 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper addresses two fundamental issues in indirect tax design. It first revisits the case for reduced rates on items especially important to the poor, establishing conditions under which even very crudely targeted spending measures better serve their interests. It then explores the welfare costs from cascading taxes, showing that these may actually be lower the wider the set of inputs that are taxed but, more to the point—and contrary to the common notion that “a low rate on a broad base” is always good tax policy—may plausibly be large even at a low nominal tax rate and with few stages of production.
Download or read book Value Added Tax written by Alan A. Tait and published by . This book was released on 1972 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Customs Matters written by Mr. Augusto A Perez Azcarraga and published by International Monetary Fund. This book was released on 2022-06-15 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Customs administrations around the world face new challenges: an increasing volume of international trade, a revolution in new technologies, and fundamental changes in business models. The benefits of a well-performing customs administration are clear, as is the need to develop efficient, effective, fair, and modern customs administrations. Customs Matters analyzes the many changes and challenges customs administrations face and pro-poses ways to address them. By offering a cross-sectional view of the main aspects of customs ad-ministration, the book guides policymakers and customs officials as they evaluate the current state of their customs system with a view to developing, reinforcing, or relaunching their own roadmaps for customs modernization.
Download or read book Tax by Design for the Netherlands written by Sijbren Cnossen and published by Oxford University Press. This book was released on 2022 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book is the product of the first Cnossen Forum-Tax by design for the Netherlands that was held on 23-24 May 2019."--Page v.
Download or read book The Role of Digital Platforms in the Collection of VAT GST on Online Sales written by OECD and published by OECD Publishing. This book was released on 2019-06-20 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides practical guidance to tax authorities on the design and implementation of a variety of solutions for digital platforms, including e-commerce marketplaces, in the effective and efficient collection of VAT/GST on the digital trade of goods, services and intangibles. In particular, it includes new measures to make digital platforms liable for the VAT/GST on sales made by online traders through these platforms, along with other measures including data sharing and enhanced co-operation between tax authorities and digital platforms.
