The tax hikes include a rise in the value-added tax and a (risk-adjusted) levy on bank profits.
Especially one who has said nice things about the value-added tax?
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The two governments profess that they are concerned only with corporate taxes and the value-added tax, that they'll leave personal and property taxes alone.
They got elected promising to slash the value-added tax, which contributes nearly a third of the government's tax revenues, and to loosen fiscal policy.
One particular attraction is that businesses supposedly pay the money and thus will roll the costs into the prices they charge for their goods and services, a sort of energy version of the value-added tax.
But at a meeting of U.S. film studios organized by the Motion Picture Association of America last week, a senior executive from Fox told other international distribution professionals in attendance that China Film was attempting to reduce its payment on "Life of Pi" released last year in China due to the new value-added tax.
Second, the law was introduced as a counterweight to trade-enhancing measures in Europe, such as the rebate of value-added tax on exported goods.
While the White House is currently incorrigible on taxes--in fact, it is broaching the idea of a European-style value-added tax, which will substantially increase the price of everything--there is no reason that it can't reverse its course on the volatile dollar.
The most damaging was a move by the government at the start of 2009 to double the rate of value-added tax on pay-TV to 20%.
Next year the central Bosnian state, as opposed to its two main entities, will begin collecting customs duties and preparing to do the same for value-added tax from 2006.
It also cut social-security contributions, partly making up the shortfall with higher value-added tax.
Most recently, I criticized the Paris-based bureaucracy for making the rather remarkable assertion that a value-added tax would boost growth and employment.
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The plan calls for reforms in the country's value-added tax regime that would save industry 120 billion yuan, according to an estimate by the government.
The jewellers want the government to slap a 20% value-added tax on the ingots, lest Italians discover that they can hedge their fears of inflation more cheaply with plain gold bars than with baubles and bangles.
There often is debate about whether, if we went the national consumption tax route, a value-added tax (VAT) or retail sales tax (RST) would be better.
The dispute centers on a new value-added tax that China is in the process of imposing on a wide range of goods and services.
Just when German consumers seem to have recovered their confidence, after years of low wage-growth and worries about jobs and pensions, the government wants to raise value-added tax by three percentage points next January.
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We could repeal the corporate tax entirely and enact a Value-Added Tax.
For their part, some states are challenging the equalising allocation of value-added tax revenues.
Despite the fillip from the temporary reduction in value-added tax, consumer spending will fall sharply.
He was recently criticised during a televised debate by Minnesota Congresswoman Michele Bachmann, who said the sales tax would eventually become a national value-added tax.
What if Congress lowers income tax rates and imposes a consumption tax--perhaps a national sales or value added tax--to make up the difference?
Ms Farrell notes that, if the Turkish government managed to collect 90% of its value-added-tax revenues instead of the current 64%, it could lower the tax rate from 18% to 13% without sacrificing any income.
But their most visible reform, the introduction of a 10% value-added tax, has not been a wholly happy experience.
So there were few complaints in September when the government imposed a 10% value-added tax and raised electricity prices.
Consumers may cut back on spending now that the main rate of VAT (value-added tax) has returned to 17.5% after 13 months at 15% to counter the recession.
In the end, Bruce makes a case for phasing in a well-designed Value-Added Tax, both to help reduce the deficit and in the name of economic efficiency.
And the planned introduction, this April, of a nationwide value-added tax levied by India's state governments is, if China's experience in the 1990s is a guide, another hopeful measure.
So it was a dilemma for us: to reconstruct the old tax system, or to combine price liberalisation with a new value-added tax.
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In replacing business taxes with a value-added tax, the government has eased the fiscal burden on small firms.
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