Two-thirds of that amount was spent on services, and the remaining one-third was spent on goods. households amounted to about $13.3 trillion. In 2017, the personal consumption expenditures of U.S. All OECD countries that impose a VAT also collect revenues from taxes on individual and corporate income. In 2017, the average national VAT rate for OECD countries was 19.2 percent, ranging from 5 percent in Canada to 27 percent in Hungary. In Australia and New Zealand, the VAT has a much broader tax base, with exclusions generally limited only to those goods and services for which it is difficult to determine a value. Most European countries have implemented VATs with a narrow tax base that excludes certain categories of goods and services, such as food, education, and health care. The tax bases and rate structures of VATs differ greatly among countries. More than 140 countries-including all members of the Organisation for Economic Co-operation and Development (OECD) except for the United States-have adopted VATs. In addition, most states impose sales taxes, but, unlike a VAT, those are levied on the total value of goods and services sold. Although the United States does not have a broad consumption-based tax, federal excise taxes are imposed on the purchase of several goods (gasoline, alcohol, and tobacco products, for example). ![]() ![]() A value-added tax (VAT) is a type of consumption tax that is levied on the incremental increase in value of a good or service at each stage of the supply chain, until the full tax is paid by the final consumer.
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