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Thursday, April 23, 2020 | History

3 edition of Recent Russian debate on moving from VAT to sales taxes and its global implications found in the catalog.

Recent Russian debate on moving from VAT to sales taxes and its global implications

V. F. Kononova

Recent Russian debate on moving from VAT to sales taxes and its global implications

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  • 2 Currently reading

Published by National Bureau of Economic Research in Cambridge, MA .
Written in English


Edition Notes

StatementVera Kononova, John Whalley.
SeriesNBER working paper series -- working paper 15615, Working paper series (National Bureau of Economic Research : Online) -- working paper no. 15615.
ContributionsWhalley, John., National Bureau of Economic Research.
Classifications
LC ClassificationsHB1
The Physical Object
FormatElectronic resource
ID Numbers
Open LibraryOL24010548M
LC Control Number2009655867

  If you live in a place with sales tax you are essentially paying VAT. It’s just that the sticker price never includes it. If the US imposed VAT, it’s likely that any state sales tax would be canceled and replaced with the VAT. A sensible VAT rate.   Tax & Legal. Home; No widgets available! Full input tax deduction on VAT-free sales to NATO forces. 5. November , The finance ministry has decreed that the input tax related to VAT-free sales to NATO forces stationed in Germany remains deductible even if the sale in question would have been VAT-free under other rules. Netherlands: Recharging costs not necessarily subject to VAT On 29 September , the Dutch Supreme Court ruled that the position taken by a Dutch business, that recharging costs is an economic activity subject to value-added tax (VAT), is not supported by European Union (EU) or domestic case law. Value added tax taxud.c.1( New sharing economy platforms have grown rapidly over the recent years and today they have an important impact on the activities to which they relate. Some of these platforms Such a scenario, and its implications from a VAT point of view, remains outside the scope of this paper.

In its ruling, the Dutch Supreme Court held that, for a transaction to be subject to VAT, payment of a consideration is not the only requirement; the payment must be paid in return for an (identifiable) act (or for refraining from an act) as performed by the recharging entity in its capacity as a .


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Recent Russian debate on moving from VAT to sales taxes and its global implications by V. F. Kononova Download PDF EPUB FB2

Recent Russian Debate on Moving from VAT to Sales Taxes and Its Global Implications Vera Kononova, John Whalley. NBER Working Paper No. Issued in December NBER Program(s):Public Economics. We discuss recent policy debate in Russia on moving from the present value added tax to a sales tax structure covering households, government and.

Recent Russian Debate on Moving from VAT to Sales Taxes and Its Global Implications Vera Kononova and John Whalley NBER Working Paper No.

December JEL No. H2,H25,H26 ABSTRACT We discuss recent policy debate in Russia on moving from the present value added tax to a sales tax structure covering households, government and exports.

Downloadable. We discuss recent policy debate in Russia on moving from the present value added tax to a sales tax structure covering households, government and exports. What is distinctive in this debate is the range and nature of problems identified with the VAT, most of which stem from its multistage credit-invoice mechanism.

These include false credit and. Get this from a library. Recent Russian debate on moving from VAT to sales taxes and its global implications. [V F Kononova; John Whalley; National Bureau of Economic Research.] -- "We discuss recent policy debate in Russia on moving from the present value added tax to a sales tax structure covering households, government and exports.

What is distinctive in this debate is. Recent Russian Debate on Moving from VAT to Sales Taxes and Its Global Implications We describe and document the debate, discussing in detail what the perceived Russian problems with the VAT are.

We suggest that many of the difficulties reflect the multi staging in the credit-invoice mechanism in the VAT, rather Recent Russian debate on moving from VAT to sales taxes and its global implications book the VAT per se. Recent Russian Debate on Moving from VAT to Sales Taxes and Its Global Implications.

Journal of Globalization and Development 1 (2), Article 4: 1. It is true that VAT presents negative effects as any other tax system and its administration process may be very complicated compare to other tax systems such as income and sales taxes.

the European Community VAT: Implications for Policy July By John R. McGowan, Ph.D. School of Business sents on overview of the VAT debate.

This is followed by a review of prior re- VAT or retail sales taxes inhad the highest saving rate of any OECD country Size: 1MB.

The Sales Tax Rate in Russia stands at 20 percent. Sales Tax Rate in Russia averaged percent from untilreaching an all time high of 20 percent in and a record low of 18 percent in This page provides - Russia Sales Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Value Added Tax, (i.e. VAT) compared to prior conventional sales tax methods. Unlike any other sales tax method, VAT does not any manner increase prices by additionally taxing the sales taxes levied within previous sales transactions. An Analysis of the European Community VAT: Implications for U.S.

Tax Policy Special Academic Paper Executive Summary Despite the passage of recent revenue generating legislation such as the Revenue Reconciliation Act of (RRA ’93), the U.S.

budget deficit remains a concern nationwide. Adding to this concern are the fiscal implications [ ]. The Russian Tax Code (Russian: Налоговый кодекс Российской Федерации) is the primary tax law for the Russian Code was created, adopted and implemented in three stages.

The first part, enacted Jalso referred to as the General Part, regulates relationships among taxpayers, tax agents, tax-collecting authorities and legislators, tax.

The VAT increase and its implications for business This is the first VAT increase in 25 years and is expected to raise approximately ZAR billion more for the fiscus.

Since the announcement, there has been some debate regarding both the social and practical implications of such increase. A VALUE ADDED TAX (VAT) has at times been mentioned as a substitute for an existing tax or as a source of new revenues in the United States.

While a VAT is not currently used in this country, it is employed by many U.S. trading partners in Size: KB. Ensuring a smooth transition in the increase of the VAT rate. In the Budget Speech delivered on 21 FebruaryMinister Malusi Gigaba announced the controversial increase in the VAT rate from 14% to 15% with effect from 1 April This is the first increase in 25 years and is expected to raise approximately ZAR billion more for the.

President Donald Trump signed a landmark tax reform on Christmas Eve to replace a year-old, complex U.S. tax system. The page law, Tax Cuts and. Journal of Globalization and Development Ed. by Stiglitz, Joseph / Emran, M. Shahe / Guzman, Martin / Jayadev, Arjun / Ocampo, José Antonio / Rodrik, Dani CiteScore SCImago Journal Rank (SJR) Source Cited by: Dubbed as “Google tax”, such anti-avoidance efforts against the global companies are being carried out in more and more jurisdictions across the world.

According to this article published in NY times, the European regulations around taxes and privacy laws are just a taste of what’s to come in the global scenario. Instead, the Russian government derives the majority of its revenue (39%) from their VAT on domestic sales and imports and after that, the next highest revenue source is corporate taxes of oil and gas companies (30%).

Personal income tax is a very small slice of the pie. The country's oil output could halve by — with potentially global implications.

The most important foreign news story this week was. The great Russian tax reform was undertaken during President Putin’s first term in office in which saw the emergence of chapter 25 on Profit Tax; chapter 26 on Mineral Extractions Tax; chapter 27 on Sales Tax (later abolished January 1 st, ), chapter on the simplified system of taxation for small and medium sized companies.

I am UK based VAT registered business and do not have a VAT registration in Russia. This is a one off business with a Russian client. The client is refusing to pay my invoice until I add 18% to the net amount and call it Russian VAT.

I suppose he will claim this on his Russian Return. March Featured articles. Deloitte global survey on VAT/GST relief measures following COVID This survey covers COVID related VAT/GST and sales tax measures introduced around the globe to mitigate the potential economic and fiscal effects of COVID on businesses and individuals.

In many places VAT and sales taxes are structured so life necessities are not taxed, or are taxed at a lower rate. Since those with lower incomes will tend to spend more of their income, percentage-wise, on these necessities, you will find some.

The introduction of the Value‐Added Tax (VAT) in Lebanon has been hailed as a public finance success. The relative ease of accounting, implementation and collection of the VAT are some of the main reasons behind its popularity and its adoption in more than countries today and inFile Size: KB.

“The VAT is a milestone achievement in strengthening the tax culture and tax administration of the country,” concluded the International Monetary Fund in a report on its May Article IV mission to Saudi Arabia to assess economic and financial developments in the kingdom and discuss policy with government and central bank officials.

Indirect taxation is increasing in prominence worldwide. In times of international company tax competition, such forms of indirect taxation as value added tax (VAT) and goods and services taxes (GST) are particularly advantageous as sources of tax revenue on account of their broad base and non-distortion of competition in the chain of by: 1.

expenditures as the best way to address concerns about its potential regressivity.9 But despite the daunting challenges of our fiscal condition — challenges that a VAT can surely help ease — it would be a mistake to enact a VAT without using a substantial portion of its revenue to help finance a major reform and simplification of income taxes.

International aspects of US ‘Tax Reform’ – Is this really where we want to go. Tweet The “international provisions” of US tax legislation wending its way through Congress (not yet signed into law at this writing) have received short shrift in the mainstream press and, indeed, generally.

This trend echoes a more general global pattern, and whilst Russia remains well behind many other jurisdictions in the sophistication of its tax control, it is improving quite rapidly.

Non-compliance is increasingly risky, whilst the tax cost of actual compliance is low, even if the administration of it remains burdensome. The customer then "withholds" the VAT for direct payment to the Russian authorities on behalf of the supplier.

The supplier is paid the net only (which is all he wanted after all). Like Neil I have no direct experience of Russian VAT - it may be worth contacting the commercial section of the Russian embassy to find out more information.

VAT is charged at each stage of the supply chain, so businesses should be thinking about ways to mitigate their VAT liabilities in commercial contracts with customers and suppliers.

Whilst companies may not be able to avoid their ultimate liability to pay VAT, it is a matter for commercial negotiation as to who should bear that cost. Taxes and duties depend upon the origin of the product, and their purpose (as defined by the Commodity Code).

Depending on the Commodity Code selected, Customs procedures vary, but in most case Taxes will be Import Duty and Excise (if applicable).

Plus, the Russian importer must pay VAT (18%) per the commercial value of goods plus import duty. Recent Trends in VAT and GST Systems around the World Edited by Thomas Ecker Michael Lang she was appointed the Chilean VAT leader for the global network of PricewaterhouseCoopers.

Ms Benedetto has a Bachelor advised the Swiss Federal Tax Administration on the introduction of its new Value Added Tax law in and Mathias. In general terms, sales of goods, provision of services, imports, and construction services are considered as taxable in the Uruguayan VAT territory.

In ruling N° issued 24 May, a taxpayer described its transactions undertaken and asked the Uruguayan Tax Authorities (DGI) when VAT should be considered due. Value added tax (VAT) and related sales taxes are becoming increasingly important for Global Coordination BV, incorporated in the Netherlands, with an office in Brussels, Belgium, where the Global All VAT on sales is accounted for on your VAT return in the country in which you have chosen to register.

The Republican joint statement also ruled out a value added tax (VAT)-style domestic consumption tax – something that both Democratic and Republican policymakers have floated in recent years. Indirect taxes include VAT and excise tax. Over the last decade, VAT has been a major tax in Russia in terms of the contribution it makes to state revenue.

Taxpayers have also traditionally viewed the law surrounding VAT to be considerably complicated, and VAT as being one of the most difficult taxes to administer.

A tax is a compulsory financial charge or some other type of levy imposed upon a taxpayer (an individual or legal entity) by a governmental organization in order to fund various public expenditures. A failure to pay, along with evasion of or resistance to taxation, is punishable by law.

Taxes consist of direct or indirect taxes and may be paid in money or as its labour. Foreign companies that are VAT-registered must calculate VAT at % on the value of electronic services supplied and must submit a VAT declaration, and independently pay VAT on a quarterly basis.

Russian companies and private entrepreneurs can offset input VAT charged by a foreign company, provided they submit the correct paperwork for proof Author: Danara Sharpe.

A value added tax (VAT) is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the value added to a product, material, or service, from an accounting point of view.

Because no one's offering something better than the VAT. that April 15 is the deadline for taxes in Tigard, Ore. both parties in recent days of .If however, the business supplies only exempt items it cannot register for VAT and does not collect VAT on its supplies or claim back VAT on its purchases.

Advantages of VAT: Where a business is being set up and has not yet sold anything, or a business doesnt sell anything within a particular VAT accounting period, it can still claim VAT back.