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Cascade Tax
A cascade tax or cascading tax is a turnover tax that is applied at every stage in the supply chain, without any deduction for the tax paid at earlier stages. Such taxes are distorting in that they create an artificial incentive for vertical integration.G.R. Putland, Critique of the Debits Tax and Turnover Tax, ''Prosper Australia''; retrieved Nov.9, 2009. They have been replaced in Europe and many other locations by a value-added tax A value-added tax (VAT or goods and services tax (GST), general consumption tax (GCT)) is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared wi .... References Sales taxes {{tax-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Turnover Tax
A turnover tax is similar to VAT, with the difference that it taxes intermediate and possibly capital goods. It is an indirect tax, typically on an ad valorem basis, applicable to a production process or stage. For example, when manufacturing activity is completed, a tax may be charged on some companies. Sales tax occurs when merchandise has been sold. By country In South Africa, the turnover tax is a simple tax on the gross income of small businesses. Businesses that elect to pay the turnover tax are exempt from VAT. Turnover tax is at a very low rate compared to most taxes but is without any deductions. In Ireland, turnover tax was introduced in 1963 and followed by wholesale tax in 1966. Both were replaced in 1972 by VAT, in preparation for Ireland's accession to the European Communities, which prohibited both taxes. See also * Cascade tax * Goods and Services Tax * Gross receipts tax * Sales tax * Turnover tax in the Soviet Union * Value-added tax A value-added t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply Chain
A supply chain is a complex logistics system that consists of facilities that convert raw materials into finished products and distribute them to end consumers or end customers, while supply chain management deals with the flow of goods in distribution channels within the supply chain in the most efficient manner. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains. Suppliers in a supply chain are often ranked by "tier", with first-tier suppliers supplying directly to the client, second-tier suppliers supplying to the first tier, and so on. The phrase "supply chain" may have been first published in a 1905 article in ''The Independent (New York City), The Independent'' which briefly mentions the difficulty of "keeping a supply chain with India unbroken" during the British expedition to Tibet. Overview A typical supply chain can be divided into two stages namely, produ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vertical Integration
In microeconomics, management and international political economy, vertical integration, also referred to as vertical consolidation, is an arrangement in which the supply chain of a company is integrated and owned by that company. Usually each member of the supply chain produces a different Product (business), product or (market-specific) service, and the products combine to satisfy a common need. It contrasts with horizontal integration, wherein a company produces several items that are related to one another. Vertical integration has also described management styles that bring large portions of the supply chain not only under a common ownership but also into one corporation (as in the 1920s when the Ford River Rouge complex began making much of its own steel rather than buying it from suppliers). Vertical integration can be desirable because it secures supplies needed by the firm to produce its product and the market needed to sell the product, but it can become undesirable wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prosper Australia
Prosper Australia is a non-profit association incorporated in the State of Victoria, Australia dedicated to reforming taxes onto land as articulated by Adam Smith, the Physiocrats, John Stuart Mill, and most notably by Henry George in ''Progress and Poverty''. History Founded in 1890 as the Single Tax League of Victoria, it was later known as the Henry George League of Victoria, then as Tax Reform Australia, before adopting its present name in 2000. Its mission, as stated on its website, is " slash taxes on work, on enterprise and consumption. Instead, fund government from the economic rents that fall to land and monopoly. Its journal, ''Progress'', has been published since 1904. Activities Education At its North Melbourne, Victoria premises, Prosper Australia maintains a bookshop, a library, seminar and office facilities for staff and volunteers. Occasional public presentations, delivered by members, staff or guests, are held here or at external venues. Foreign academics an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value-added Tax
A value-added tax (VAT or goods and services tax (GST), general consumption tax (GCT)) is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax. VAT is an indirect tax, because the consumer who ultimately bears the burden of the tax is not the entity that pays it. Specific goods and services are typically exempted in various jurisdictions. Products exported to other countries are typically exempted from the tax, typically via a rebate to the exporter. VAT is usually implemented as a destination-based tax, where the tax rate is based on the location of the customer. VAT raises about a fifth of total tax revenues worldwide and among the members of the Organisation for Economic Co-operation and Development (OECD). As of January 2025, 175 of the Member states of the United Nations, 193 countries with UN membership employ a VAT, including all OECD members except the Tax ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
