CM767 From Panama, joined Dec 2004, 663 posts, RR: 1 Posted (6 years 1 month 5 days 9 hours ago) and read 3127 times:
I am Panamanian, and on the 70s we got our first taste of VAT with the imposition of the ITBM ( Impuesto de Transferencia de Bienes Muebles ) has been 5% since it was imposed. I moved to Mexico a couple of years ago, and it was a shock to see a VAT of 15%, not enough apparently, since it has been increased to 16% .
I am curious to know ware are the VATs around the word.
Back in here in California its a mix of State and local rates which has the rate between 8.35-10.75% depending on which county you live or shop in. Residents recently voted on a temporary 0.50-1.00% increase for 3 years to cover various projects such as transportation.
From the desert to the sea, to all of Southern California
LTBEWR From United States of America, joined Jan 2004, 13764 posts, RR: 17
Reply 6, posted (6 years 1 month 5 days 6 hours ago) and read 3061 times:
In the USA, we do not have a 'VAT' tax. Instead states and local governments have what we call 'sales taxes'. The rules vary as to the % imposed, usually from 3% to about 9% in some states and regions and on what put on and so on. A few states have no sales taxes, or only have it for a few items (like hotel fees, resturant bills).
In my home state of New Jersey, it is generally 7%, although in some cities to similuate revenue to them, it is 3.5%. If someone is buying something for resale, there is no sales tax, instead the final seller charges it. It is not put on most groceries, basic paper products, but can be on snack foods, soda. We do not have a sales tax on clothing or shoes. Everytime a car is sold, unless to another dealer, then sales tax applies (at the 7% rate). Sales tax is added to the price of all alcoholic beverages on top of other voulme taxes. There is no sales tax on motor fuels, as already taxed by volume.
Lincoln From United States of America, joined Nov 2004, 3887 posts, RR: 7
Reply 7, posted (6 years 1 month 5 days 5 hours ago) and read 3038 times:
Quoting LTBEWR (Reply 6): In the USA, we do not have a 'VAT' tax. Instead states and local governments have what we call 'sales taxes'. The rules vary as to the % imposed, usually from 3% to about 9% in some states and regions and on what put on and so on. A few states have no sales taxes, or only have it for a few items (like hotel fees, resturant bills).
And there are "sales taxes" for specific purchases -- for example, some of my hotel stays not only get charged "sales tax" but also up to three levels of "occupancy" or "lodging" tax (state, county, local) ... and in some cases there's an additional "tourism fee" (usually a flat rate per night like $2 instead of a percentage).
I'll admit that the VAT has always slightly confused me, mainly because I've never had a reason to really care about it having not left the US for any meaningful period of timem but my understanding is unlike the multitude of state/local taxes that one can find in the US which are generally -- though not always -- added to the "sticker" price at checkout, VAT is generally included in the "sticker" price-- that seems much more upfront to me.
CO Is My Airline of Choice || Baggage Claim is an airline's last chance to disappoint a customer || Next flts in profile
We used to have a general sales tax but it was open to abuse because only the last person in the chain, ie the retailer charged tax.
With VAT as the name implies, there is tax on the added value. If you produce a raw material for 100 and the VAT rate is 15%, your customer pays 115. He uses the raw material to produce something else and charges 200, plus 30 VAT, selling for 230. And so on.
Here in South Africa the VAT rate has been 14% for a long long time.
Certain items are zero-rated:
Brown wheaten meal
Pilchards/sardinella in tins
Edible legumes and pulses of leguminous plants
Dairy powder blend
Non-fee related financial services
Educational services provided by an approved educational institution
Residential rental accommodation
Goods which are subject to the fuel levy (petrol and diesel)
Public road and rail transport
International transport services
Sales of going concerns
Certain grants by government.
After Monday and Tuesday even the calendar says WTF...
Under UK law, no Value Added Tax (VAT) is charged on biscuits and cakes — they are "zero rated". Chocolate covered biscuits, however, are subject to VAT, currently 17.5%. McVities classed its Jaffa Cakes as cakes, but in 1991, this was challenged by Her Majesty's Customs and Excise and the case ended up before the courts.
Theredbaron From Mexico, joined Mar 2005, 3110 posts, RR: 25
Reply 18, posted (6 years 1 month 4 days 12 hours ago) and read 2916 times:
We are being governed by dolts, they have done exactly the opposite, the main goal is to keep inflation low, at the cost of EVERYTHING ELSE.
Now I am Charging 16% Vat, but the money coming from the USA is at 2005 levels, the Auto Industry is at 2001 Levels and the Tax revenue is down 15%, I wonder what they will come up with when there is no economy left to lot.
MD11junkie From Argentina, joined May 2005, 3152 posts, RR: 55
Reply 19, posted (6 years 1 month 4 days 12 hours ago) and read 2910 times:
Ok, so here's for Argentina:
IVA (Impuesto al Valor Agregado) or VAT
Computers, Printers and Other Electronic Appliances: 10.5% (cell phones not included)
Cell Phones: 17.5%
Food, Clothing, Cars, Air Travel/Tourism, Internet: 21%
Cell phone and phone bills: 27%
There is no such thing as Boeing vs Airbus as the queen of the skies has three engines, winglets and the sweetest nose!
FriendlySkies From United States of America, joined Aug 2004, 4138 posts, RR: 5
Reply 22, posted (6 years 1 month 3 days 12 hours ago) and read 2824 times:
Cook county is now up to 10% sales tax...agh! I don't know whether VAT or the US system is better, I just wish the US sales taxes were included in posted prices...it's so much easier buying things overseas knowing exactly what I'll owe at the register, rather than trying to figure out if I have enough cash without knowing what the local taxes are in certain US counties...
ACDC8 From Canada, joined Mar 2005, 7897 posts, RR: 32
Reply 23, posted (6 years 1 month 3 days 12 hours ago) and read 2817 times:
In Canada, we've traditionally only had one Provincial Sales Tax (PST) which varies from Province to Province and since 1991 a Federal Goods and Services Tax (GST) which supposedly replaced the Federal Manufacturers Sales Tax (MST).
British Columbia has a 7% PST and is on everything excluding some items such as food and childrens clothes and school supplies. On top of that, we have the 5% GST which also adds to the 7% GST on some items but is also exempt for some things such as groceries.
As of July this year, BC will be planning to replace both taxes with a Harmonized Sales Tax (HST) of 12% and it will also be added to items that were previoulsy exempt.
Quoting LAXintl (Reply 3): A VAT list I have from April 2008 list following high ones:
Spinaltap From New Zealand, joined Mar 2005, 441 posts, RR: 0
Reply 24, posted (6 years 1 month 3 days 12 hours ago) and read 2812 times:
New Zealand has a 12.5 % GST (Goods and services tax) on everything (no exceptions for any class of food). The government is currently undertaking a review of the tax mix and there is a chance that the rate may be increased in favour of decreasing personal income tax.
"I get what they call a stipend, a stipend is like money but its such as small amount they don't really call it money"