IS the VAT system is correct for the common man?
349872
VAT was implemented keeping the commom man in mind. Three other taxes were done away with to accomodate VAT. The taxes on goods is of prime importance as it keeps a check on the black money. Also, contrary to the popular belief that things will get costlier due to VAT, there are no changes in prices of most of the things
444736
I think it's a great idea too. Everyone should, at some point in their life, contribute something (other than taxes) to the country they live in. Making it mandatory would make it less enjoyable, however. People should do it because it's the right thing to do, not because it's required.
717442
I always find it amazing that some US people answering questions in a UK subsection still assume that you are from the US!  Yes your tax code is correct, unless like others have already stated you get any benefits from your employer.  Tax codes used to be adjusted for Married Man's allowance and other things (back in the days when we had tax codes ending in A and H) but not any more.  Now we have the tax credits system, this takes away the need to adjust the tax code to "reimburse" the parent.  The 503L is a "standard" tax code applicable to everyone as a starting point from 6th April this year.\n\nHope that helps
259524
Yes. Since they are human, they pay tax, the eat and breathe just like anyone else, they should have the same right as anyone else.
284629
It's a good idea. I feel a flat tax should be on all income with no exemptions. It should be imposed on all income above what is determined to be the poverty level plus 10%.
1011352
Value added tax (VAT) is similar to a sales tax in that it is levied at the time of the sale of goods and services. In some countries, including Australia, Canada, New Zealand, and Singapore, this tax is known as "goods and services tax" or GST; and in Japan it is known as "consumption tax". VAT is an indirect tax, in that the tax is collected from someone other than the person who actually bears the cost of the tax (namely the seller rather than the consumer). As VAT is intended as a tax on consumption, exports (which are, by definition, consumed abroad) are usually not subject to VAT or VAT is refunded.
190056
Input VAT is the tax you pay on your purchases.\nOutput VAT is the tax you receive on your Sales..
490966
I think that aswell as the above comments, it also depends on taxes. Take here for example (UK) our government taxes us on everything!
1038220
Very interesting article. So now we live in the age of George Orwell's 1984? Just think we pay taxes to be abused. What does that say about our society?
585953
Sure it sounds, great that's what are taxes are go for right? But in today society it would not be politically correct. We are a F@#$#$ up country with way to many loop holes. We first have to start filling up all the holes. Start by not allowing babies being born here granted citizenship.
658299
To seriously know that you have to get 'Students guide to income tax'... for income taxes and 'service tax' by any author for service tax. VAT stands for value added tax and it is charged on the value created at each stage in the trade process. this means that if a mfg sellers to another trader rs 100 article, rs 10 is tax ( i think prevailing tax rate is 10% with 2% cess) then the seller will sell to another dealer at 150 his tax will be 15rs minus what he has already paid ie output tax minus input tax so his liability will be rs 5. there are few different tax rates for VAT you need to confirm with an accountant or CA, or just browse on google, there are so many sites devoted to VAT
747128
Click on the link bel  eow for and see VAT Schedule of the State concerned where you want to sell the productsir \nwww.allindiantaxes.com/vat.php
471843
Hell! They barely pay any taxes now. It's right at 15%, while everybody else pays close to 30%. With the standard deductions that's what it all works out to be. Average people don't qualify for those deductions for a reason, and the reason is you pay most of the taxes.
577969
A flat tax is more democratic.  There would be no deductions for the wealthy, no tax loop holes.  A flat tax would have to be higher then 5 percent, probably closer to 10 percent.  You could also use a VAT, value added tax.  That is a sales tax that goes to the federal government.  A VAT could be higher on non essential goods like a BMW and lower or zero on things like milk.  You could have a 5 percent flat tax in combination with a VAT.  FYI: Germany does not have a flat tax.
822666
Value added tax (VAT) is a type of sales tax. In some countries, including Australia, Canada, New Zealand, and Singapore, this tax is known as "goods and services tax" or GST; and in Japan it is known as "consumption tax". VAT is an indirect tax, in that the tax is collected from someone other than the person who actually bears the cost of the tax (namely the seller rather than the consumer). As VAT is intended as a tax on consumption, exports (which are, by definition, consumed abroad) are usually not subject to VAT or VAT is refunded.\n\nVAT was invented by a French economist in 1954. Maurice Lauré, joint director of the French tax authority, the Direction générale des impôts, as taxe sur la valeur ajoutée (TVA in French) was first to introduce VAT with effect from 10 April 1954 for large businesses, and extended over time to all business sectors. In France, it is the most important source of state finance, accounting for approximately 45% of state revenues.\n\nPersonal end-consumers of products, consumers and services cannot recover VAT on purchases, but businesses are able to recover VAT on the materials and services that they buy to make further supplies or services directly or indirectly sold to end-users. In this way, the total tax levied at each stage in the economic chain of supply is a constant fraction of the value added by a business to its products, and most of the cost of collecting the tax is borne by business, rather than by the state. VAT was invented because very high sales taxes and tariffs encourage cheating and smuggling. It has been criticized on the grounds that it is a regressive tax.
174564
you have to be more specific. The only tax that is the same for everyone is sales tax. So I cant answer your question more without more info
394179
Absolutely NOT!  I believe the tax burden on the poor should be light and that those who are successful and benefited the most from society should carry the larger tax burden.  Our current system is set up to do just that.  A flat tax would be nothing but a huge tax increase on the working poor and middle class and a tax cut for the wealthy.