Author : James M. Bickley
Publisher : Nova Publishers
Page : 158 pages
File Size : 18,44 MB
Release : 2003
Category : Business & Economics
ISBN : 9781590335925
Book Description
The feasibility of levying a value-added tax (VAT) to reduce large forecast budget deficits seems to never go away. A VAT is imposed at all levels of production on the differences between firms' sales and their purchases from all other firms. A VAT is assumed to be fully shifted forward to consumers; hence, a VAT is a type of general consumption tax. The United States, does not have a broad-based, national level consumption tax and in general, relies less on consumption taxes. This book examines the concepts, issues and experiences of the value-added tax in other countries.