Value Added Tax Wikipedia

Value-added tax in the United Kingdom - Wikipedia.

In the United Kingdom, the value added tax, VAT) was introduced in 1973, replacing Purchase Tax, and is the third-largest source of government revenue, after income tax and National Insurance.It is administered and collected by HM Revenue and Customs, primarily through the Value Added Tax Act 1994.. VAT is levied on most goods and services provided by registered businesses in ....

European Union value added tax - Wikipedia.

The European Union value-added tax (or EU VAT) is a value added tax on goods and services within the European Union (EU). The EU's institutions do not collect the tax, but EU member states are each required to adopt a value added tax that complies with the EU VAT code. Different rates of VAT apply in different EU member states, ranging from 17% in Luxembourg to 27% in Hungary..

Land value tax - Wikipedia.

A land value tax (LVT) is a levy on the value of land without regard to buildings, personal property and other improvements. It is also known as a location value tax, a site valuation tax, split rate tax, or a site-value rating.. Land value taxes are generally favored by economists as they do not cause economic inefficiency, and reduce inequality. A land value tax is a progressive tax, in that ....

Value-Added Tax (VAT): What It Is & Who Pays - NerdWallet.

Feb 25, 2022 . Value-added tax is typically a percentage of the sale price. For example, if you purchase a pair of shoes for $100, and the value-added tax rate is 20%, you would pay $20 in VAT at the register ....

Economic Value Added – Wikipedia.

Der Economic Value Added (EVA) oder Geschaftswertbeitrag (GWB) ist eine Kennzahl aus der Finanzwirtschaft, die dazu dient, die Vorteilhaftigkeit einer Investition zu bewerten. EVA stellt einen Residualgewinn dar und ergibt eine absolute Nettogrosse eines Gewinns nach Abzug der Kapitalkosten fur das eingesetzte Gesamtkapital. Vereinfacht: EVA = Kapitalerlose abzuglich ....

Goods and Services Tax (India) - Wikipedia.

History Formation. The reform of India's indirect tax regime was started in 1986 by Vishwanath Pratap Singh, Finance Minister in Rajiv Gandhi's government, with the introduction of the Modified Value Added Tax (MODVAT). Subsequently, Prime Minister P V Narasimha Rao and his Finance Minister Manmohan Singh, initiated early discussions on a Value Added Tax (VAT) at the state ....

Home mortgage interest deduction - Wikipedia.

Economists have demonstrated that high-cost high-income areas receive most of the tax benefit. For example, in 1999, San Francisco, California received $26,385 per home while El Paso, Texas received $2,153 per home, a 1,225% difference. In 2005, the five highest income metros received 87% of tax inflows, with over half going into California alone..

Indirect tax - Wikipedia.

An indirect tax (such as sales tax, per unit tax, value added tax (VAT), or goods and services tax (GST), excise, consumption tax, tariff) is a tax that is levied upon goods and services before they reach the customer who ultimately pays the indirect tax as a part of market price of the good or service purchased. Alternatively, if the entity who pays taxes to the tax collecting authority ....

Harmonized sales tax - Wikipedia.

The harmonized sales tax (HST) is a consumption tax in Canada.It is used in provinces where both the federal goods and services tax (GST) and the regional provincial sales tax (PST) have been combined into a single value added sales tax..

State income tax - Wikipedia.

Michigan abolished its corporate income tax in 1975, replacing it with another value-added tax; New Jersey instituted an individual income tax in 1976; The Northern Mariana Islands negotiated with the U.S. in 1975 a mirror tax which was to go into effect in 1979, but in 1979 enacted a law rebating that tax partially or entirely each year and ....

Optimal tax - Wikipedia.

Optimal tax theory or the theory of optimal taxation is the study of designing and implementing a tax that maximises a social welfare function subject to economic constraints. The social welfare function used is typically a function of individuals' utilities, most commonly some form of utilitarian function, so the tax system is chosen to maximise the aggregate of individual utilities..

Tax refund - Wikipedia.

Tax refunds must be claimed within four years of the end of the tax year if the one is assessed under the PAYE tax system. Canada. In Canada, income tax is deducted by the employer under the PAYE tax system. For self-employed or investment earning individuals, who owe greater than $3000 in net taxes in 2019 and one of the previous two years..

Taxation in Switzerland - Wikipedia.

Value added tax. The value added tax (VAT; Mehrwertsteuer / Taxe sur la valeur ajoutee / Tassa sul valore aggiunto) is one of the Confederation's principal sources of funding. It is levied at a rate of 7.7 percent on most commercial exchanges of goods and services. Certain exchanges are subject to a reduced VAT of 2.5 percent:.

Dividend tax - Wikipedia.

In the Netherlands there's a tax of 1.2% per year on the value of the share, regardless of the dividend, as part of the flat tax on savings and investments. Major shareholders (over 5%) are subject to a 25% dividend tax, they can deduct the 1.2% tax rate over the value, so 25% is their effective tax rate..

VAT-free imports from the Channel Islands - Wikipedia.

VAT-free imports from the Channel Islands were imports into the United Kingdom from the neighbouring Channel Islands that were exempt from value added tax (VAT), a European Union purchase tax. The exemption was a result of low-value consignment relief (LVCR), a tax relief that applies to low-valued imports into the EU. The UK was a member of the EU from 1973 until ....

List of countries by tax rates - Wikipedia.

A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit. The list focuses on the main types of taxes: corporate tax, individual income tax, and sales tax, including VAT and GST, but does not list capital gains tax, ....

United States Tax Court - Wikipedia.

The first incarnation of the Tax Court was the "U.S. Board of Tax Appeals", established by Congress in the Revenue Act of 1924 (also known as the Mellon tax bill) in order to address the increasing complexity of tax-related litigation.Those serving on the Board were simply designated as "members." The members of the Board were empowered to select, on a biennial basis, one ....

Taxation in Puerto Rico - Wikipedia.

The IVU was scheduled to expire on 1 April 2016, to be replaced with a value-added tax (VAT) of 10.5% for the state level, with the 1% IVU continuing for the municipalities. On 2 May 2016 the House of Representatives voted to repeal the adoption of value added tax (VAT), followed shortly by the Senate on 5 May 2016..

Social Security (United States) - Wikipedia.

The Social Security tax rates from 1937-2010 can be accessed on the Social Security Administration's website. The combined tax rate of these two federal programs is 15.30% (7.65% paid by the employee and 7.65% paid by the employer). In 2011-2012 it temporarily dropped to 13.30% (5.65% paid by the employee and 7.65% paid by the employer)..

Pigovian tax - Wikipedia.

A Pigovian tax (also spelled Pigouvian tax) is a tax on any market activity that generates negative externalities (i.e., external costs incurred by the producer that are not included in the market price). The tax is normally set by the government to correct an undesirable or inefficient market outcome (a market failure), and does so by being set equal to the external marginal cost of the ....