#value-added tax

[carlocarrasco]

BIR confirms that more medicines have been exempted from VAT

In case you missed the news, the Bureau of Internal Revenue (BIR) recently announced that several more medicines have been exempted from the value-added tax (VAT), according to a Philippine News Agency (PNA) news article. The newly exempted medicines cover those related to cancer, high cholesterol, hypertension, and mental illness. To put things in perspective, posted below is an excerpt from…

[mystudydiary-blog]

08-05-2023

It's been a while since I posted :(

I already finished 8 weeks of my 11 week internship at the Belgian federal tax administration. My team works on appeals made by companies about VAT.

In the beginning I worked on old files that were already closed so I could practise. But now I'm working on current files and it feels nice being needed.

I'm so tired though. I've postponed my thesis to august because I feel dead when I get back home in the evening.

I really have to start writing my thesis report though. I've been procrastinating on that as well lol. I need to submit that at the end of may but my mentor needs to read it first because of confidentiality so I should probably finish writing it a week before the deadline.

I have started applying for jobs already! I applied for 2 jobs at tax administration where I'm doing my internship and maybe I get offered a contract when I'm finished. We'll see what happens

[cparrisart]

For the love of god why is VAT so horrible

Ok so I am TRYING to make sense of VAT so I can allow commissions to the UK, even though every time I start reading about it I want to crawl into the fetal position.

If I understand correctly, for a sale that is worth less than £135, the seller is responsible for remitting VAT. If the sale is worth more than £135, the recipient is responsible for paying VAT. (I guess customs will hold the package until the recipient pays up?)

If this is the case, theoretically I could avoid personally dealing with VAT by having commissions worth less than £135 paid for via Etsy (because they collect and remit VAT), and commissions worth more than £135 can go directly through Paypal and VAT is the client's problem. LOL.

Someone please tell me if this is correct. 😭

One issue, though, is that if I sell a commission via Etsy, I don't want to ship it with an Etsy label. Do Etsy labels have some kind of indication that VAT has been paid? If I make my own label, will the client be charged VAT again? Or does UK Customs assume packages with a value less than £135 have already had the VAT taken care of?

And the most important question of all, why is the UK tormenting everyone with this shit????

[myconetted]

the berkeley 70-year-old white millionaire hippie coalition is really good at greenwashing their blatant nimby bullshit and it makes me so unfathomably angry

[incrediblesweatermachine]

to be honest idc how people feel about a certain show getting cancelled because tbf the fandom is incredibly annoying and i get why you wouldnt like the show, whatever. i found it to be like fun and watchable and there was a lot of skill put into costuming which is sometjing i enjoy. anyways i get why people would be like “haha it got cancelled” but to me it seems like. maybe streaming services arbitrarily cancelling pieces of original fiction all the time might be like ultimately bad for art

[kingdomoftyto]

Hands down the wildest revelation from Darkstalker was that the titular character was like five, maybe six years old when his gf put him down for his 2000-year nap

It explains SO much

[shinondraws]

The more I hear from our new government the more I want to move out of Finland.

This is a fucking shitfest yall.

So, how's being a freelancer/entrepreneuer in your country? What are the required languages?

Asking for fun.

[racefortheironthrone]

Hey Steven, love all the work you've been putting out for us, both for A Song of Ice and Fire and the real world. It's been very interesting seeing your take on feudal and modern politics, as well as the tidbits you've thrown our way about other systems (Byzantine, Bronze Age). In terms of questions as opposed to obsequious flattery, I have two:

Say you're a Targaeryn taking the crown after Summerhall. How do you try to solidify your dynasty's hold on the country? Any particular alliances you'd look out for?

In the real world, do you think a national value-added tax (VAT) would be beneficial for the United States? I personally like the idea because it helps self-police in an effective way (if the person before you doesn't pay taxes, you don't get your refund), but I'm curious what someone with more experience than sitting in an armchair reading books thinks.

Glad you liked it!

To answer your first question...well, trying to run back Aegon V's plan of dynastic marriage alliances is a good idea. As for which Houses, the Tyrells are thirsty for a royal marriage and they're rich and powerful so that's an obvious pick. The Lannisters would be perfect, but you'd have to spend a lot of energy keeping them from trying to monopolize royal favor. Any Great House would be a good pick, really.

To answer your second question...the VAT is a policy that has a lot of adherents, especially among econnomists because it doesn't distort the markets they care more about (namely investment and labor markets) as much as other forms of taxation. I have a somewhat more cautious viewpoint - not a hostile one per se, but I think it's a situation where there are both genuine upsides and downsides, pros and cons.

The main pro, from my perspective, is that the U.S adopting a VAT would eliminate the trade problem by which, because exports get VAT refunds (since the end consumer isn't paying VAT), VATs act as a form of trade subsidy against countries that don't have VATs, effectively lowering the price for those goods/services relative to their domestic competitors.

The main negative from my perspective is that VAT is a regressive tax when considered on its own. Yes, it's true that VAT can finance progressive social spending, including various new forms of tax expenditure created to compensate for a VAT, but so can other, more progressive forms of taxation.

I feel like something that is often ignored by many (more U.S-based) proponents of the VAT is that partisan politics still exists in countries with VATs, and it's very telling that in those countries the left tends to want to reduce VAT rates and increase income taxes and other progressive taxes and the right tends to want the opposite. Just because VATs exist in social democracies does not mean that they are social democratic in character. Introducing a VAT is not a guarantee that social spending takes place - social democratic welfare states were brought into being not through arcane adjustments to the taxation structure, but through the hard work of partisan politics and social movements.

The next negative (although that is somewhat more minor) is that I think the claims about the efficiency of administration or collection are somewhat overblown. VATs require an enormous amount of compliance paperwork, and that paperwork needs to be checked if you want to avoid VAT fraud (which is a really common problem in countries with VATs - people don't tend to cheat the system by not paying the tax, they cheat by over-claiming refunds) and those costs have to be paid if you want to enforce the tax.

Finally, I think VATs are oversold as a replacement for existing taxes. Especially in the case of the U.S, where there is the additional issue of needing to compensate state and local governments for getting rid of their sales taxes as well as the need to compensate for the regressive effects of a VAT through the provision of a tax credit or UBI or similar, there are a lot of demands on the revenue a VAT could bring in.

At the rates and credits that American proponents of VATs are recommending, a VAT would bring in a couple hundred billion a year in revenues. Which sounds pretty good, until you realize that the Federal government's revenue is about $5 trillion a year. So a VAT could allow for a modest change around the margins of Federal taxation, but it's not going to massively cut income or payroll taxes, let alone eliminate them.

TLDR: the VAT is a land of contrasts, but at the end of the day, it's also a smaller deal than people think.

[deerspace9]

VAT

VAT is a tax so evil i am surprised there aren't a million american cranks advocating for its immediate adoption

[indianahal]

The US. government has placed new generations of Americans in financial peril because of their out-of-control spending.  The congress has crossed over the $33 trillion threshold of debt.  In recent months the debt is accelerating with over $1 trillion added almost every three months.  Spending is out running revenues by such a huge margin that the ratio of public debt to GDP cannot be maintained.  My new video looks at this, and also how the non-stop printing of money is weakening the value of the dollar worldwide.

[shuraatax]

Value Added Tax (VAT) in Qatar: A Detailed Guide for Businesses

There is only one rate of Value Added Tax in Qatar, which is 5%, and it applies to all transactions that take place in the country. However, there are some goods and services that are exempt or subject to a 0% VAT rate, such as Education and healthcare services, Real estate transactions, Goods and services exported outside Qatar, International transportation, and more. Just like in the UAE, supplies exceeding QAR 375,000 per annum are required to register for VAT. Get more details about VAT in Qatar only from the tax experts of Shuraa Tax.

[mystudydiary-blog]

06-07-2023

Today I got my grade for my internship. I got 17/20! My mentor was really positive during our feedback convo so I already knew her evaluation was going to be good. I was still a bit scared about my report I wrote about the VAT on renovations though.

This week I'm at uni with other students who are also writing their theses. I feel mich more productive surrounded by other people in the same situation lol, lil bit of peer pressure to not scroll on social media ✨

[ethanleonel]

Value Added Tax refers to a type of incremental levy on the price of a good or service at each stage of production, distribution, or sale to the end user; it is also known as a goods and services tax in some countries. The introduction of UAE value added tax (VAT) basically wants businesses to adapt to new standards of compliance and accounting. As VAT is forwarded to the government by the seller after being charged from the buyer, it becomes very important that businesses correctly understand and manage their obligations of the VAT.

[frimleyblogger]

Is A Ferret A Pet?

In the crazy world of VAT flapjacks have also been under the judicial microscope, the bone of contention, as with Jaffa Cakes, being whether they are zero-rated cakes or a confectionery item attracting VAT at the standard rate. The court ruled that the flapjacks under consideration were not cakes as they were not baked and contained significant amounts of protein. HMRC were moved to issue…