scholarly journals Value added tax-theoretical and practical aspects

2004 ◽  
Vol 44 (160) ◽  
pp. 107-129
Author(s):  
Bozidar Raicevic
Keyword(s):  
Value Added ◽  
Theory And Practice ◽  
World Population ◽  
Consumption Tax ◽  
Value Added Tax ◽  
Dominant Type ◽  
Goods And Services ◽  
The World ◽  
The Republic ◽  
Consuming Country

Value added tax has been applied for four decades now and as a novelty it has already worn off both in theory and practice. It has indisputable advantages and relatively minor shortcomings compared to other forms of consumption taxation. Today it is one of the most widely used form of consumption tax in the world, being levied in about 120 countries accounting for around 70 per cent of the world population, including all European countries except Serbia and Bosnia and Herzegovina (the Federation and the Republic of Srpska). The burden of value added tax is visible at each stage in the production and distribution chain, thus eliminating taxation accumulation and is borne ultimately by the final consumer of final goods and services in the consuming country. The consumption type is a dominant type of value added tax. It ensures that the fixed and current assets purchases are exempt from VAT, and as such, it encourages technological progress and investment. By applying the country of destination principle (VAT is chargeable in the country where the goods or services are consumed - exports are exempt from tax while imports are taxed), value added tax eliminates double taxation and retains tax sovereignty of the importing country. In the last ten years there have been attempts to introduce value added tax in Serbia. The introduction of value added tax is the condition for the accession to the EU and we should expect that the latest attempt to introduce this tax in the Serbia taxation system will be successful. Namely, VAT Act is expected to be passed during 2004 and enforced as of January 1, 2005.

scholarly journals An Insight Into the Value Added Tax System Detailing Its Origins, Impact, Provisions and Regulations With Reference to India

2004 ◽  
Vol 3 (1) ◽  
pp. 19-29
Author(s):  
Tomy Kallarackal
Keyword(s):  
European Economic Community ◽  
Value Added ◽  
Tax Credit ◽  
Value Added Tax ◽  
Excise Duty ◽  
Goods And Services ◽  
The World ◽  
The Difference ◽  
The Government ◽  
Insight Into

The Value Added Tax was first introduced in France in 1954. It was the resultant effort of France and members of the European Economic Community (E.E.C) during the 1950s aimed at the simplification of commodity taxes. Currently more than 130 nations in the world have adopted the VAT system. In the last decade alone over 50 nations have introduced VAT. This includes implementation in China and most recently the addition of Australia to the list of VAT nations. The world over, VAT is payable on both goods and services as they constitute a part of the national GDR Excise duty and sales taxes are merged into the singularity of VAT. No tax is levied on exports with full input tax credit made available. The scheme of taxation adopted by most nations is very simple. The seller of goods and the service provider charge tax on sales, avail input tax credit and pay the difference as VAT to the goVernment treasury. The compliance system in VAT nations is also very simple. There is very less interface between the tax collector and the tax payer. However there are provisions for heavy penalization of VAT defaulters. VAT is administered nationally and is also levied on imports.  

scholarly journals Value Added Tax & Export: the Case of Selected Countries around the World

2011 ◽  
Vol 2 (6) ◽  
pp. 298-305
Author(s):  
Ahmad Jafari Samimi
Keyword(s):  
Value Added ◽  
Statistical Test ◽  
Annual Growth ◽  
Value Added Tax ◽  
Tax System ◽  
Goods And Services ◽  
The World ◽  
Before And After ◽  
The Impact ◽  
Do So

The purpose of the present paper is to compare the impact of implementing Value Added Tax on Export of goods and services in selected countries. In this paper, we used four different indices for export; export of goods and services, export of goods and services (BOP), export of goods and services (annual % growth), export of goods and services (% of GDP) to investigate the sensitivity to different definitions .To do so, study concentrated on a sample of 140 countries that have applied Value Added Tax in their tax system from 1990 to 2008. Findings of the study based on Mean Difference Statistical Test in a two threeyear periods before and after introduction of VAT. In general, the results show that, in different indices, the impact of VAT on export is positive. Therefore, it is suggested that other countries have not yet introduced the VAT to reform their tax system by introducing the VAT.

scholarly journals THE FLAWS OF THE SYSTEM OF ACCOUNTING FOR THE VALUE-ADDED TAX LIABILITIES AND RECEIVABLES, AND RECOMMENDATIONS FOR OVERCOMING THEM

2018 ◽  
Vol 28 (5) ◽  
pp. 1613-1618
Author(s):  
Nada Petrusheva ◽  
Darko Iliov
Keyword(s):  
European Union ◽  
Value Added ◽  
The European Union ◽  
Consumption Tax ◽  
Value Added Tax ◽  
Member States ◽  
The Difference ◽  
The Republic ◽  
The Government ◽  
Reduced Rate

Value-added tax (VAT) is a consumption tax, meaning that it is a tax on the purchase of a product or a service. It is a form of taxation that focuses on how much an individual consumes opposed to how much that individual contributes to the economy (income tax).Value-added tax is paid by residents of any country in the European Union. Both consumers and businesses are liable to pay VAT when purchasing products or services. When a manufacturer creates a product, it is liable to pay value-added tax on the components purchased in order to create goods. When the product is sold, the tax burden is transferred onto the buyer, who pays the whole VAT amount, from which the manufacturer pays the government the difference between the whole VAT amount and the VAT amount that has already been paid when the components were purchased. Value-added taxation rates are set by the member states individually. The minimum rate of VAT as directed by the European Union is 15%. There is no maximum limit on value-added taxation. Member states are also at liberty to choose certain products and services to be subject to a reduced rate of VAT or to be exempt altogether. The system of accounting for the VAT liabilities and receivables in the Republic of Macedonia has certain issues which are presented in this paper. This paper also presents recommendations that are aimed towards overcoming these issues.

scholarly journals Утицај пореских подстицаја и промена пореских стопа ПДВ-а на привредни развој и социјалну стабилност // The impact of tax incentives and changes in VAT rates on economic development and social stability

2014 ◽  
Vol 12 (21) ◽  
pp. 123
Author(s):  
Славен Савић
Keyword(s):  
Economic Development ◽  
Value Added ◽  
Price Policy ◽  
Social Stability ◽  
Tax Rates ◽  
Consumption Tax ◽  
Real Wages ◽  
Goods And Services ◽  
The Republic ◽  
The Impact

Резиме: Порез на додату вредност, као општи порез на потрошњу, у значајној мери има утицаја на формирање ценовне политике, као и на конкурентност привреде и њен економски развој. Ово посебно долази до изражаја код промена висине пореских стопа. Разлог томе је чињеница да се због постојања више врста пореских стопа, одређена добра и услуге различито опорезују, а тиме и различито категоризују. Ова категоризација, тј. подела добара на луксузна добра и добра од ширег јавног значаја, има директног утицаја на њихову потрошњу, као и на њихову конкурентност, а нарочито када се ради о конкурентности истих производа на тржиштима различитих земаља. У овом раду ће се дати анализа утицаја пореских стопа (тј. промена њихове висине) на ове категорије у Републици Србији. Поред тога, указаће се и на одређене социјалне аспекте цена, будући да њихов ниво утиче на висину реалних зарада.Summary: Value added tax, as a general consumption tax, significantly influences the formation of price policy as well as economic competitiveness and economic development of country. This is especially evident in the changes in tax rates. The reason for this is the fact that, due to the existence of several types of tax rates, certain goods and services are taxed differently, and thus categorized differently. This categorization, ie. distribution of goods on luxury goods and goods of the wider public interest, has a direct impact on their consumption, as well as on their competitiveness, especially when it comes to the competitiveness of the same products in the markets of different countries. This paper will provide an analysis of the impact of tax rates (i.e. changes in their height) on these categories in the Republic of Serbia. In addition, we will point out certain social aspects of prices, since the level of these costs has influence on the level of real wages.

scholarly journals DUTY FREE NOT VAT FREE Master Currency v CSARS (155/2012) [2013] ZASCA 17 (20 March 2013)

Obiter ◽  
2014 ◽  
Author(s):  
Carika Keulder ◽  
Thabo Legwaila
Keyword(s):  
South Africa ◽  
South African ◽  
Value Added ◽  
Value Added Tax ◽  
Free Zone ◽  
Goods And Services ◽  
Competitive Price ◽  
Zero Rate ◽  
The Republic ◽  
Free Area

In Master Currency v CSARS ((155/2012) [2013] ZASCA 17 (20 March 2013)) the court had to address the question of whether services supplied by Master Currency were subject to a zero rating. This case is of particular interest as it addresses the VAT implications of services supplied in a duty-free area of an airport. Hence, it was questioned whether a service rendered in a duty-free area will be subject to VAT.A duty-free area or zone is an area or zone within which goods and services may be supplied without being subject to customs duties. The IBFD International Tax Glossary defines “Duty-free zone” as follows: “[z]one usually next to an international port or airport where imported goods may be unloaded, stored and reshipped without payment of customs duties or other type of indirect tax, provided the goods are not imported” (140). The importance of this definition is that it specifically refers to “other type[s] of indirect taxes” also not being leviable in the duty-free area. It is important to note that the Customs and Excise Act (91 of 1964) does not define “duty free” or “duty-free area”.The South African value-added tax (hereinafter “VAT”) is a tax on the consumption of goods and services in the Republic of South Africa. Accordingly, the Value-added Tax Act 89 of 1991 (hereinafter “the Act”) and, accordingly, references to sections in this note are to sections of the Act, unless otherwise expressly stated, provides for three instances where goods and services will be considered to be consumed in South Africa and thus be subject to VAT. The first instance will be when a vendor supplies goods or services in the course or furtherance of an enterprise in South Africa. The second instance is when goods are imported into South Africa by any person, and lastly when imported services are supplied to any person in South Africa. The supply of domestic goods and services is taxable in terms of section 7(1)(a) of the Act. Imported goods and services are subject to VAT firstly because they are destined for consumption in South Africa. Moreover, it is essential for these goods and services to attract VAT consequences, otherwise imported goods and services would enjoy a competitive price advantage over equivalent local goods and services as the latter would be subject to VAT in terms of section 7(1)(a). Thus the taxation of imported goods and services creates an equal competitive footing with the domestic goods and services. Bearing in mind that VAT is a tax on consumption it follows that exportation of goods and services from South Africa are subject to tax at a zero-rate as the consumption will not take place in South Africa. As a general matter, the supply of these goods is taxable in the country where they are destined to be consumed. The zero-rating ensures that no double taxation ensues in that an exporter will not be taxed in South Africa and again in the export country (“export country” refers to any place that is outside South Africa).

scholarly journals World Experience of Application of the Added Value Tax and Prospects of its use in the Republic of Uzbekistan

2019 ◽  
Vol 8 (3S) ◽  
pp. 424-428
Keyword(s):  
Quality Of Life ◽  
Value Added ◽  
Comparative Characteristic ◽  
Tax Burden ◽  
Value Added Tax ◽  
Tax System ◽  
Tax Rate ◽  
The World ◽  
The Republic

The article is devoted to the analysis of the application of value added tax in world practice, the general problems of the development of the tax system as one of the most important regulators of a market economy. The world experience in the field of taxation and the possibility of its application for the Republic of Uzbekistan were taken as the basis for the study. A comparative analysis of the value-added tax rate and the quality of life of people in some countries (in accordance with the world rating) was carried out, which showed that a low value-added tax rate in a particular country does not always mean a high quality of life for the population. But subject to the payment of high taxes, the population of these countries enjoys a high degree of state social protection. The analysis of the dynamics of the tax burden of the Republic of Uzbekistan for 2013-2019 is carried out, the nature of the effectiveness of the tax system of the state is determined based on the ratio of direct and indirect taxes. As a result, the study showed that the tax system of the Republic of Uzbekistan is similar to the Eurocontinental and Latin American models with a tendency to a mixed model, which is characterized by diversification of the income structure, i.e. avoiding dependence on one type of tax. From 2013 to 2018 there is a uniform decrease in the tax burden, but in accordance with preliminary forecasts, the tax burden will increase in 2019. Moreover, in the Republic of Uzbekistan the value of the tax burden over the past few years has been one of the lowest in comparison with the countries of the European Union. This is due to the effectiveness of tax reforms in the country aimed at reducing the tax burden on the economy. A comparative characteristic of certain parameters of the tax system of the Republic of Uzbekistan and the tax systems of European states allows us to identify precisely those areas in which Western taxation models can be successfully applied in our country. The Government of the Republic of Uzbekistan has chosen guidelines aimed at comprehensively improving the living standards of the population, reducing social tension by reducing

Kazakh history and philosophy: ethnomathematical component of the content of education

2020 ◽  
Vol 42 (1) ◽  
pp. 213-224
Author(s):  
Murabak Ermaganbetov ◽  
◽  
Bakhytzhan Shingisbaev ◽  
Aliya Akramova ◽  
Tavarkul Baskimbaeva ◽  
...  
Keyword(s):  
Scientific Literature ◽  
Theory And Practice ◽  
Methodological Principle ◽  
Teaching Mathematics ◽  
Elementary Grades ◽  
Mathematical Education ◽  
Philosophical Foundations ◽  
Modern Education ◽  
The World ◽  
The Republic

This article discusses the problems of the culturological approach as a methodological principle of the theory and practice of modern education, historical and philosophical foundations of the formation and development of mathematical education in elementary grades. The authors of this article take part in the discussion around the problem of ethnomathematics, which will continue on the pages of the world scientific literature for several years. We would also like to express our opinion, our ideas on this issue and offer our opinion on the solution to this problem. We would like to acquaint the reader with the experience of including the ethnomathematical component in teaching mathematics in primary school in the Republic of Kazakhstan. The significance of our study is that in the lessons of mathematics the tasks of mastering the required level of mathematical education and sociocultural problems were solved.

Government is unlikely to overhaul Poland’s tax regime

2021 ◽  
Keyword(s):  
Value Added ◽  
Disposable Income ◽  
Policy Preference ◽  
Corporate Taxes ◽  
Value Added Tax ◽  
Alternative Source ◽  
Content Type ◽  
Goods And Services ◽  
Indirect Taxes ◽  
The Government

Significance This continues the policy preference -- out of line with Poland’s peers -- for indirect taxes on goods and services, including a relatively high value-added tax (VAT) rate. The government says the sugar tax aims to curb rising obesity, but critics suspect it is a new way of raising revenue. Impacts Corporate taxes could be raised as an alternative source of revenue. Left unaddressed, the regressive trend in taxes and rising inequality may create an opening for the leftist Spring and Together parties. If UK taxes rise post-pandemic, the relative fall in disposable income could encourage Polish immigrants to return to Poland.

9. Value added tax

2021 ◽  
pp. 138-146
Author(s):  
Clare Firth ◽  
Jennifer Seymour ◽  
Lucy Crompton ◽  
Helen Fox ◽  
Frances Seabridge ◽  
...  
Keyword(s):  
Value Added ◽  
P Value ◽  
Value Added Tax ◽  
Goods And Services

Value added tax (VAT) is a tax charged on supplies of goods and services made by businesses that have (or should have) registered for VAT. This chapter discusses the circumstances in which VAT is charged; the rates of VAT; when VAT can be reclaimed; accounting for VAT; and doing VAT calculations.

9. Value added tax

2019 ◽  
pp. 139-147
Author(s):  
Kathryn Wright ◽  
Clare Firth ◽  
Lucy Crompton ◽  
Helen Fox ◽  
Frances Seabridge ◽  
...  
Keyword(s):  
Value Added ◽  
P Value ◽  
Value Added Tax ◽  
Goods And Services

Value added tax (VAT) is a tax charged on supplies of goods and services made by businesses that have (or should have) registered for VAT. This chapter discusses the circumstances in which VAT is charged; the rates of VAT; when VAT can be reclaimed; accounting for VAT; and doing VAT calculations.

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