Goods and Services Tax
Encyclopedia
A goods and services tax or value added tax
is a tax on exchanges.
By country:
Value added tax
A value added tax or value-added tax is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the "value added" to a product, material or service, from an accounting point of view, by this stage of its...
is a tax on exchanges.
By country:
- Goods and Services Tax (Australia)Goods and Services Tax (Australia)The GST is a broad sales tax of 10% on most goods and services transactions in Australia. It is a value added tax, not a sales tax, in that it is refunded to all parties in the chain of production other than the final consumer....
- Goods and Services Tax (Canada)Goods and Services Tax (Canada)The Goods and Services Tax is a multi-level value added tax introduced in Canada on January 1, 1991, by then Prime Minister Brian Mulroney and his finance minister Michael Wilson. The GST replaced a hidden 13.5% Manufacturers' Sales Tax ; Mulroney claimed the GST was implemented because the MST...
- Goods and Services Tax (Hong Kong)Goods and Services Tax (Hong Kong)Goods and Services Tax was a proposed Value Added Tax in Hong Kong. Consultation over a period of nine months was launched on 2006-07-19 and stirred considerable controversy....
- Goods and Services Tax (India)Goods and Services Tax (India)The Goods and Services Tax is a value added tax to be implemented in India by April 2012. It will replace all indirect taxes levied on goods and services by the Indian Central and State governments...
- Goods and Services Tax (New Zealand)Goods and Services Tax (New Zealand)Goods and Services Tax is a value added tax introduced in New Zealand on 1 October 1986 at 10%. It later increased to 12.5% on 1 July 1989 and was further increased to 15% on 1 October 2010....
- Goods and Services Tax (Singapore)Goods and Services Tax (Singapore)Goods and Services Tax in Singapore is a broad-based value added tax levied on import of goods, as well as nearly all supplies of goods and services. The only exemptions are for the sales and leases of residential properties and most financial services...