Value added tax : a comparative approach in theory and practice / Alan Schenk, Oliver Oldman.

Format:

Book

Author/Creator:

Schenk, Alan.

Contributor:

Oldman, Oliver.

Rosengarten Family Fund.

Language:

English

Subjects (All):

Value-added tax--Law and legislation.

Value-added tax.

Value-added tax--Law and legislation--Great Britain.

Great Britain.

Physical Description:

xxv, 716 pages ; 24 cm

Place of Publication:

Ardsley, N.Y. : Transnational Publishers, [2001]

Contents:

Chapter 1 Survey of Tax on Consumption and Indirect Taxes and Introduction to Value Added Tax 1

II. Development of taxes on consumption

a brief review of history 3

III. Consumption tax

in general and in relation to income 7

IV. Direct and indirect tax 12

V. Tax structures in developed and developing economies 18

VI. Broadening the base of a tax system 22

VII. Taxes on goods and services 24

VIII. The value added tax 25

IX. The proliferation of VATs 26

X. Overview of the value added tax 27

XI. Methods of calculating VAT liability 35

XII. Glossary of VAT terms 44

XIII. Outline of issues pertaining to consumption taxes 49

Appendix A to chapter 1 Development Taxation 52

Appendix B to chapter 1 Economic Differences Among VATs 59

Chapter 2 Forms of Consumption-Based Taxes and Altering the Tax Base 65

I. Forms of consumption-based taxes 65

II. Methods of altering the tax base 73

Chapter 3 Registration, Business Activity, and Taxable Sales of Goods and Services 89

II. Registration and the concept of a taxable person 90

III. Business activity subject to VAT 105

IV. Sales of goods and services 123

Chapter 4 Time of Supply and Valuation Rules 147

I. The timing rules 147

II. Valuation rules 159

Chapter 5 The Tax Credit Mechanism 187

I. Tax credit for purchases 187

II. The tax invoice 216

Chapter 6 Zero Rating and Exemptions 221

I. Designing the tax base

in general 221

II. Taxation of small businesses 250

Chapter 7 Introduction to Cross-Border Aspects of Vat & the Service Sector 257

I. Introduction to international trade 257

II. Vocabulary of interjurisdictional aspects of VAT 258

III. Origin vs. destination principle 260

IV. Place of supply rules in international trade 269

V. Introduction to service industries 285

VI. Excerpts from Kay & Davis, The VAT and Services 285

VII. Services of professional art advisors under state RST 289

Chapter 8 Governmental Entities and Nonprofit Organizations 301

I. Introduction

concepts and a survey of issues and practices 301

II. Overview of various approaches to the taxation of governments and NPOs 305

III. Taxation in the European Union 306

IV. Taxation of sales by religious organizations in the U.S. under state retail sales tax 329

V. Special treatment for diplomats and international organizations 332

Chapter 9 Financial Services 335

II. Variety of transactions involving financial services 338

III. Financial intermediation services and the effect of exemption 339

IV. Scope of exempt financial services 352

V. Allocation of input tax credits between taxable and exempt activities 359

VI. Taxing intermediation services 361

VII. Henderson, Financial Intermediaries Under Value-Added Taxation 372

Chapter 10 Insurance 389

II. Exemption for insurance other than life insurance 392

III. Broad-based tax on casualty insurance 394

IV. New Zealand taxation of insurance 396

V. The Nunn-Domenici USA Tax System 403

Chapter 11 Real Property 407

II. Array of VAT treatment of real (or immovable) property 408

III. EU approach to the taxation of real (or immovable) property 412

IV. Cases involving real property 418

Chapter 12 Inter-Jurisdictional Aspects of Vat in Federal Countries and Common Markets 433

II. EU's commitment to borderless trade within the Union 437

III. Canadian VATs and the Bird/Gendron dual VAT 447

IV. Varsano's subnational VAT, as modified by McLure's CVAT 455

V. Origin-based VATs to finance subnational government 468

VI. Proposals to reform subnational taxes in the U.S. 469

Chapter 13 Telecommunications, Electronic Commerce, and Transportation 483

II. Telecommunication services 485

III. Electronic commerce 489

IV. Transportation services 497

V. Proposal to fund relief of disaster victims with a tax on international airfares 502

Chapter 14 Transition Rules Under a Value Added Tax 505

II. Transition rules applicable to repealed sales tax 507

III. Timing differences between sales tax and VAT and supplies straddling the VAT effective date 511

IV. Pre-effective date contracts not specifying VAT 523

V. Other transition issues 524

Chapter 15 U.S. Proposals for Taxing Consumption 525

II. The USA Tax System: coordinated consumption-based individual and business taxes 527

III. Gibbons and Graetz VATs replacing most income tax 535

IV. The flat tax 536

V. National retail sales tax 540

Appendix A Countries adopting VAT and percentage rates throughout the world 551

Appendix B Consolidated text of the EU Sixth VAT Directive 557

Appendix C ABA model VAT statute 673.

Notes:

Addendum ([8] p.) inserted.

Includes index.

Local Notes:

Acquired for the Penn Libraries with assistance from the Rosengarten Family Fund.

ISBN:

1571051694

OCLC:

46421138