Last week, Italy increased the value added tax a full percentage point to 21%.
Value Added Tax or VAT is a kind of sales tax in much of the world.
It aims to introduce a fully fledged value added tax by the spring of 2013.
Value added tax (VAT) is paid whenever you buy goods or a service.
Are the Republicans afraid to raise the issue of a value added tax?
Unlike schools and academies, colleges are unable to claim back Value Added Tax and so have to pay it in full.
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The American tax system actually is more progressive than that of many European nations which rely on the Value Added Tax.
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Chandler explains that China's Value Added Tax, the country's largest revenue raiser, creates a huge disincentive for investment in energy efficiency projects.
Taxes on products include value added tax (VAT), excise, fuel tax, etc.
This rises to 59% once value added tax (VAT) has been added.
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?
And senior Democratic officials, including Paul Volcker and Nancy Pelosi, have been floating trial balloons about bringing a broad-based Value Added Tax to the United States.
The tax increases will more than triple what the Democrats advocated, including a large new Value Added Tax (probably called a Business Receipts Tax).
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Value Added Tax (VAT) on household energy bills must be scrapped to prevent pensioners having to choose between heating and eating, campaigners and charities claim.
The betting among London city analysts is that the new government will hike the Value Added Tax to 20% in early 2011 from its current 17.5%.
Democrats would like to use the crisis to push through a Value Added tax and other tax increases, locking in a higher government share of GDP.
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This plan would replace the current system of taxes with a 9% individual flat tax, a 9% value added tax on corporations, and a 9% sales tax.
The European Commission has said it is studying a proposal to impose value added tax (VAT) on sales of music, software and other "virtual" goods over the internet.
Also, some Brazilian states (3 of 27) charge a lower VAT (Value Added Tax) on hydrous ethanol sold to Flex-Fuel cars compared to VAT imposed on gasoline at the pump.
Maybe Congressman Stockman, as a sign of his fealty to the legend of Margaret Thatcher, would be interested in proposing similar legislation and introduce a value added tax in America?
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Portugal has increased its value added tax by 1 percentage point across all categories, while increasing the top marginal tax rate by 1.5% on top earners and by 2.5% on corporations.
Whatever you think of this approach, it sure beats higher income taxes, higher capital gains taxes, or the dreaded Value Added Tax, which you know is just waiting in the wings.
It adds that another option is to mitigate the impact of high food prices by reducing other taxes, including Value Added Tax, but given the government's poor finances this option is not a serious one.
Mauldin, despairingly, envisions a Value Added Tax as the desperate alternative to Depression 2.0 which he predicts is the consequence of not getting the deficit under control (something which, of course, The Deal does not really do).
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Income from value added tax, the government's biggest source of tax revenue representing about 36 per cent of the total, has been falling since 2008, despite a sharp increase in the rate -- the main rate is now 23 per cent.
The president is determined to complete the reforms before the end of his term in 1998 -- tax reform, protection of intellectual property, retail trade liberalization, reform of the Philippine National Police, amendments to the Expanded Value Added Tax, more incentives to investors, judicial reforms.
For instance, in the initial version of his fiscal plan, House Budget Committee Chairman Paul Ryan (R-WI)would have eliminated all taxes on gains, dividends, and estates and repealed the corporate income tax (which he would have replaced with an 8.5 percent value added tax).
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