Re: I may be crazy
- From: abuse@xxxxxxxxxxxx (Peter Corlett)
- Date: Tue, 14 Jun 2011 00:21:33 +0000 (UTC)
Seebs <usenet-nospam@xxxxxxxxx> wrote:
On 2011-06-11, Peter Corlett <abuse@xxxxxxxxxxxx> wrote:[...]
Every three months, the shopkeeper tots up the VAT on everything theyWait, so the prices include VAT, probably, but they might not, and they
sold and subtracts the VAT on *everything* they bought for the business,
and not just what they bought to resell. If this figure is positive, they
pay it to the VAT man, if negative, they get a refund.
might include more or less VAT than is actually paid?
Prices quoted to consumers include VAT, no exceptions. The end consumer pays
the price inclusive of VAT, and all of that VAT paid goes to the government.
The hint's in the name: "Value Added Tax". Each time a company adds value to
some goods or services, they pay tax on the value they added. Thus VAT is
collected on the entire value of the goods across the whole supply chain.
(Yes, there are a number of boring edge cases, but they're not relevant to
consumers.)
I can't imagine that being popular here; if we're getting taxed, we want
to know how much, etc.
It's not as if the 20% VAT rate is any great secret in the UK. Notably, the
various protests and riots we have are complaining about other taxes.
Perhaps VAT really is one of the more fair taxes.
.
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