Virtues and fallacies of VAT : an evaluation after 50 years

Resource Information

The work Virtues and fallacies of VAT : an evaluation after 50 years represents a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation. This resource is a combination of several types including: Work, Language Material, Books.

Label

Virtues and fallacies of VAT : an evaluation after 50 years

Contributor

• Brederode, R.F.W. van

Subject

• GST
• VAT
• VAT adjustment
• VAT exemption
• VAT fraud
• VAT rate
• VAT refund
• compliance burden
• consumption tax
• destination principle
• developing countries
• digital economy
• equal treatment
• fiscal neutrality
• fixed establishment
• holding company
• tax revenues
• transfer pricing
• voucher

Language

eng

Summary

This book centers on evaluating the use of value-added tax (VAT) from a global policy perspective after over 50 years of experience with its intricacies. 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 labour supply decisions, and growth. Understanding the strengths and weaknesses of VAT is important for policymakers and their advisors when contemplating introducing the tax in a country or evaluating how to improve an existing VAT system. This book offers authoritative perspectives on VAT's full spectrum from its signal successes to the subtle ways in which its application can undermine revenue performance and economic neutrality. The contributors 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 of the book offers six country reports - on New Zealand, Japan, China, Colombia, Ethiopia, and India - to demonstrate how VAT operates in a variety of national economies

Geographic coverage

International

Index

no index present

Language note

English

Literary form

non fiction