Systems of General Sales Taxation

Systems of General Sales Taxation

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Sales taxes aˆ’ including gross receipt taxes, retail sales taxes and value added taxes aˆ’ are a key part of the fiscal revenue of many countries. Given an increasingly global economy aˆ’ and the recent stresses to which it's been subjected aˆ’ many issues come into play in connection with the legal, tax policy and economic implications presented by the taxation of international transactions. This thoughtful work begins with the basics and approaches sales taxation from a number of different aspects. It provides in-depth economic analysis (for non-economists) of all the taxes covered, including tax shifting, tax incidence, the economic effect of reduced rates and exemptions, tax accumulation, regressivity, and the Laffer curve approach. In addition, it offers a tax policy approach in regard to specific economic sectors such as the treatment of small enterprises, financial services, and real property. This highly useful reference employs a comparative focus as well, especially where US sales tax is contrasted to EU VAT (e.g., in regard of e-commerce and the treatment of capital goods). Last but not least, the work offers insightful legal analysis in such key areas as cross-border transactions and US constitutional restraints.Some states accept the resale price of the car, but others take the stated priceof theKelley Blue Book, a usedcar ... value objectivation, such as the standard presumptive value, used in Texas.117 Some defend the use of the catalog ... ignores a market price reached between unrelated parties, except in the case of fraud, 119 or between related parties as long as the price is at arma#39;s length. ... Connecticut now uses the N.A.D.A. Official Used Car Guide as its source for used car valuations.

Title:Systems of General Sales Taxation
Author:Robert F. Van Brederode
Publisher:Kluwer Law International - 2009


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