A report on Flat tax, Tax and Value-added tax
A flat tax (short for flat-rate tax) is a tax with a single rate on the taxable amount, after accounting for any deductions or exemptions from the tax base.
- Flat taxA value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of tax that is assessed incrementally.
- Value-added taxSome levy a flat percentage rate of taxation on personal annual income, but most scale taxes are progressive based on brackets of annual income amounts.
- TaxA VAT is usually a flat tax.
- Value-added taxSince governments also resolve commercial disputes, especially in countries with common law, similar arguments are sometimes used to justify a sales tax or value added tax.
- TaxTaxation systems such as a sales tax or value added tax can remove the tax component when goods are exported and apply the tax component on imports.
- Flat tax0 related topics with Alpha