A report on Sales tax, Value-added tax and Tax
A sales tax is a tax paid to a governing body for the sales of certain goods and services.- Sales tax
A 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 tax
It is similar to, and is often compared with, a sales tax.- Value-added tax
A value-added tax (VAT) collected on goods and services is related to a sales tax.- Sales tax
Countries or subunits often also impose wealth taxes, inheritance taxes, estate taxes, gift taxes, property taxes, sales taxes, use taxes, payroll taxes, duties and/or tariffs.- Tax
Since 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.- Tax
2 related topics with Alpha
Indirect tax0 links
An indirect tax (such as sales tax, per unit tax, value added tax (VAT), or goods and services tax (GST), excise, consumption tax, tariff) is a tax that is levied upon goods and services before they reach the customer who ultimately pays the indirect tax as a part of market price of the good or service purchased.
Regressive tax0 links
A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases.
Payroll taxes, such as FICA and Unemployment Insurance in the United States, and consumption taxes such as value-added tax and sales taxes are regressive in that they both raise prices of purchased goods. Lower-income earners save and invest less money, so pay a larger proportion of their income toward these taxes, directly for sales tax and as the price increase required to make revenue covering payrolls for payroll taxes.