Value Added Tax or VAT is a privilege tax. It is imposed on:
a. The sale, barter, exchange (including transactions deemed by law as a sale) or lease of goods or properties and rendition of services in the course of trade or business; or
b. The importation of goods, whether used in business or not.
The most important feature of VAT is that it is a regressive system of taxation. It is regressive because...
Showing posts with label regressive system of taxation. Show all posts
Showing posts with label regressive system of taxation. Show all posts
Wednesday, February 19, 2014
Subscribe to:
Posts (Atom)
