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E-raamat: Value Added Tax: A Comparative Approach

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  • Sari: Cambridge Tax Law Series
  • Ilmumisaeg: 02-Feb-2015
  • Kirjastus: Cambridge University Press
  • Keel: eng
  • ISBN-13: 9781316213353
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Value Added Tax: A Comparative ApproachSuurem pilt
  • Formaat: EPUB+DRM
  • Sari: Cambridge Tax Law Series
  • Ilmumisaeg: 02-Feb-2015
  • Kirjastus: Cambridge University Press
  • Keel: eng
  • ISBN-13: 9781316213353
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This book integrates legal, economic, and administrative materials about the value added tax (VAT) to present the only comparative approach to the study of VAT law. The comparative presentation of this volume offers an analysis of policy issues relating to tax structure and tax base as well as insights into how cases arising out of VAT disputes have been resolved. Its principal purpose is to provide comprehensive teaching tools – laws, cases, analytical exercises, and questions drawn from the experience of countries and organizations around the world. This second edition includes new VAT-related developments in Europe, Asia, Africa, and Australia and adds new chapters on VAT avoidance and evasion and on China's VAT. Designed to illustrate, analyze, and explain the principal theoretical and operating features of value added taxes, including their adoption and implementation, this book will be an invaluable resource for tax practitioners and government officials.

This book integrates legal, economic, and administrative materials about the value added tax (VAT) to present the only comparative approach to the study of VAT law. The second edition includes new VAT-related developments in Europe, Asia, Africa, and Australia and adds new chapters on VAT avoidance and evasion and on China's VAT.

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This book integrates legal, economic, and administrative materials about the value added tax to present the only comparative study of VAT law.
List of Tables and Charts xxi
List of Cases xxiii
Preface to the Second Edition xxxi
1 Introduction 1(19)
I Scope of Book
1(1)
II Development of Taxes on Consumption — A Brief Review of History
2(3)
III Direct and Indirect Taxes on an Income or Consumption Base
5(3)
A Direct and Indirect Taxes
5(2)
B Income and Consumption Base for Tax
7(1)
IV Tax Structures in Developed and Developing Economies
8(2)
V The Value Added Tax
10(2)
VI The Proliferation of VATs
12(2)
VII Glossary of VAT Terms
14(4)
VIII Discussion Questions
18(2)
2 Consumption Tax Forms And Base Alterations 20(27)
I Forms of Consumption-Based Taxes
20(3)
A Introduction
20(1)
B Consumption-Based Direct Tax on Individuals
20(2)
C Single and Multistage Sales Taxes
22(1)
II Overview of the Value Added Tax
23(5)
A In General
23(1)
B Jurisdictional Reach of the Tax
24(1)
C Inclusion of VAT in Tax Base
25(1)
D Inclusion of Capital Goods in Tax Base
26(2)
III Methods of Calculating VAT Liability
28(8)
A Credit-Invoice VAT
28(2)
B Credit-Subtraction VAT That Does Not Rely on VAT Invoices
30(1)
C Sales-Subtraction VAT
31(2)
D Addition-Method VAT
33(3)
IV Methods of Altering the Tax Base
36(8)
A Entity Exemptions
39(1)
B Zero Rating
40(2)
C Transaction Exemption
42(1)
D Alteration of Base by Granting or Denying Credits
43(1)
E Multiple Rates
44(1)
V Discussion Questions
44(3)
3 Varieties Of VAT In Use 47(12)
I Introduction
47(1)
II European Union: A Mature VAT Resistant to Change
48(6)
A VAT in the European Community
48(4)
B European Court of Justice
52(1)
C Application of the EU VAT Directive
53(1)
III Japanese Consumption Tax
54(1)
A Credit-Subtraction VAT Without Invoices
54(1)
B Movement Toward Invoice-Method VAT
55(1)
IV New Zealand Goods and Services Tax
55(3)
A Broad Tax Base
56(1)
B Taxation of Government Services
56(1)
C Taxation of Casualty and Other Nonlife Insurance
56(1)
D Global Reach of the New Zealand GST
57(1)
V African Experience Expanding Base to Tax Financial Services
58(1)
4 Registration, Taxpayer, And Taxable Activity 59(33)
I Introduction
59(1)
II Registration
59(16)
A In General
59(1)
B Mandatory Registration
60(2)
1 General Rules
60(1)
2 Promoters of Public Entertainment
61(1)
3 Registration Regardless of Turnover
62(1)
C Registration Threshold and the Small Business Exemption
62(9)
1 In General
62(5)
2 A Single Business and Related Person Rules
67(2)
3 Severing Value from the Business
69(2)
D Voluntary Registration
71(1)
E Cancellation of Registration
72(1)
F Transition to Registration and Cancellation of Registration
73(1)
G Registration of Branches and Group of Companies
74(1)
H Electronic Commerce, Broadcasting, and Telecommunication Services
74(1)
III Person Liable for Tax
75(2)
A General Principles
75(1)
B Person Treated as Seller
75(2)
1 In General
75(1)
2 Services Rendered by Nonresidents
76(1)
3 Auctions
76(1)
4 Local Government Services
77(1)
IV Business Activity Subject to VAT
77(13)
A Economic or Taxable Activity
77(6)
B Personal Sales
83(4)
C When Does a Business Begin?
87(2)
D Employee Not Engaged in Taxable Activity
89(1)
V Discussion Questions
90(2)
5 Taxable Supplies And Tax Invoices 92(44)
I Introduction
92(1)
II Supplies of Goods and Services
92(41)
A What Is a Supply for Consideration?
93(18)
1 Nonsupplies or Supplies Other Than in the Course of Taxable Activity
103(1)
2 Sales for Consideration
104(4)
3 Transactions or Transfers Deemed to Be Supplies for VAT Purposes
108(3)
a Cease to Conduct Taxable Transactions
109(1)
b Diversion of Business Assets to Personal or Employee Use
109(1)
c Change in the Use of Goods or Services
110(1)
d Repossession of Goods Sold in a Taxable Transaction
110(1)
B Supply of Goods versus Services
111(11)
1 Supply of Goods - in General
111(1)
2 Supply of Services - in General
112(3)
3 Classification as Goods or Services - Predominant Element
115(7)
C Single, Mixed, and Composite Supplies
122(8)
D Vouchers
130(3)
III The VAT Invoice
133(2)
A Role of VAT Invoice
133(1)
B Who Receives VAT Invoices?
133(1)
C Contents of Required VAT Invoices
133(1)
D Waiver of Required VAT Invoices
134(1)
IV Discussion Questions
135(1)
6 The Tax Credit Mechanism 136(51)
I Tax Credit for Purchases
136(38)
A Basic Input Tax Credit Rules
136(28)
1 Allowance of Credit - General Rules
136(2)
2 Credit for Input VAT on Capital Goods
138(13)
3 Who Is Entitled to Claim Credit?
151(1)
4 Conditions to Claim Credit for Input VAT
152(5)
5 Purchases Not Used in Making Taxable Supplies
157(7)
B Pre-Opening Expenses and Post-Economic Activity
164(2)
C Impact of Subsidies on Allowable Input Credits
166(1)
D Transactions Involving Shares of Stock
167(5)
E Bad Debts
172(1)
F Allocation of Deductions Between Taxable and Other Activities
173(1)
II Treatment of Excess Input Credits - Carry Forward, Offset, or Refund
174(4)
III Change from Exempt to Taxable or Taxable to Exempt Status
178(1)
IV Used Property
179(3)
A Business-to-Business Sales of Used Property
179(1)
B Sales of Used Property in Non-Taxable Transactions
179(3)
V Post-Sale Price Adjustments and Refunds
182(1)
A In General
182(1)
B Third Party Post-Sale Rebate to Final Consumer
183(1)
VI Casual Sales by Consumers
183(1)
VII Japan's System to Calculate Input Credits
184(1)
VIII Calculation of Tax Liability and Special Schemes
185(1)
IX Discussion Questions
186(1)
7 Introduction To Cross-Border Aspects Of VAT 187(39)
I Introduction to International Trade
187(1)
II Vocabulary of Interjurisdictional (Cross-Border) Aspects of VAT
188(1)
III Definition of Tax Jurisdiction
189(12)
A Introduction
189(1)
B Territorial or Global Reach of the Tax
189(6)
C Origin or Destination Principle
195(13)
1 In General
195(2)
2 Double Taxation of Consumer-to-Consumer Imports
197(4)
IV Basic Place of Supply Rules for a Territorial, Destination Principle VAT
201(7)
V Goods Involved in International Trade
208(2)
A Imports of Goods
208(1)
B Exports of Goods
209(1)
VI Services Involved in International Trade
210(8)
A Services Beyond the Scope of Tax in User's Jurisdiction
210(1)
B Imports of Services
210(1)
C Exports of Services
211(4)
D EU's Revised Rules on Services
215(2)
1 Business-to-Business Services
216(1)
2 Business-to-Consumer Services
216(1)
3 Special Rules for Particular Situations
216(1)
4 Rules to Avoid Double Tax or Non-Tax
217(1)
E The OECD Project on Place of Supply for Cross-Border Services and Intangibles
217(1)
VII Special Treatment for Particular Industries
218(6)
A Telecommunications, Broadcasting, and Electronically Supplied Services
218(3)
1 Telecom and Broadcast Services
218(2)
2 Electronically Supplied Services
220(1)
3 Special Schemes for Non-Established Taxable Persons
221(1)
B Electronic Commerce
221(2)
C International Transportation Services
223(1)
VIII Proposal to Fund Disaster Relief
224(1)
IX Discussion Questions
225(1)
8 Timing And Valuation Rules 226(34)
I The Timing Rules
226(15)
A Accrual, Hybrid, and Cash Methods - in General
226(10)
1 Imports
227(1)
2 Accrual Method
228(7)
3 Invoice Method
235(1)
4 Cash Method
235(1)
B Taxable Period
236(3)
1 Taxable Period - in General
237(1)
2 Variations in Length of Period
237(1)
3 Time to File Returns and Pay Tax
238(1)
C Special Rules for Certain Sales
239(2)
1 Installment or Deferred Payment Sales
239(1)
2 Goods Diverted to Personal Use
240(1)
3 Other Special Cases
241(1)
II Transition Rules
241(2)
A Introduction
241(1)
B Change in Rates
241(1)
C Other Amendments
242(1)
D Registration Requirement
242(1)
E Pre-Effective Date Contracts Not Specifying VAT
242(1)
III Valuation Rules
243(16)
A Taxable Amount or Value of a Supply - General Rule
243(5)
B Sales Free of Charge or for a Nominal Charge
248(1)
C Discounts, Rebates, and Price Allowances
249(1)
D Pledged Goods and Repossessions
250(1)
E Post-Sale Adjustments
251(2)
F Related Party Transactions
253(1)
G Margin Schemes
254(1)
H Sales to Door-to-Door Sellers and Similar Independent Contractors
255(1)
I Self-Supply Transactions
256(1)
J Taxable Amount - Imports
257(3)
1 General Rule
257(1)
2 Imports Placed in a Bonded Warehouse
257(1)
3 Imports of Previously Exported Articles
258(1)
4 Imports from Unregistered Persons
258(1)
IV Discussion Questions
259(1)
9 Zero-Rating, Exemptions, And Exempt Entities 260(51)
I Introduction
260(1)
II Zero-Rated Sales
260(9)
A In General
260(8)
B Zero-Rated Exports
268(1)
C Zero Rating Other Transactions
268(1)
III Exempt Sales
269(12)
IV Allocation of a Single Price between Supplies with Different Tax Consequences
281(1)
V A-B-C Transactions
282(3)
VI Governmental Entities and Nonprofit Organizations
285(24)
A Introduction
285(3)
B Various Approaches to the Taxation of Governments and NPOs
288(1)
C Taxation in New Zealand
289(1)
D Taxation in the European Union
290(19)
VII Special Treatment for Diplomats, Embassies, and International Organizations
309(1)
VIII Discussion Questions
309(2)
10 VAT Evasion And Avoidance 311(36)
I Introduction
311(1)
II Avoidance
311(28)
III VAT Evasion
339(8)
11 Gambling And Financial Services (Other Than Insurance) 347(44)
I General Introduction
347(1)
II Gambling, Lotteries, and Other Games of Chance
347(4)
III Financial Services (Other than Insurance)
351(37)
A Introduction
351(3)
B Exemption for Most Financial Services
354(13)
1 Early Rationale Has Lost Force
354(1)
2 Administrative Problems Associated with Exempting Financial Services
354(8)
a Importance of Certainty in Tax Treatment — Interpretation Problems
354(6)
b Allocation of Input Tax Between Taxable and Exempt Supplies
360(1)
i Introduction
360(1)
ii Methods of Allocating Disallowed Credits
360(2)
3 Distortions Caused by Exemption of Financial Services
362(5)
a Vertical Integration
362(1)
b Outsourcing
363(4)
C Financial Intermediation Services — Services Measured by Margins
367(6)
1 Deposits and Loans
370(1)
2 EU Approach
371(2)
D Departures from Total Exemption — Retain Exemption for Intermediation Services, But Tax Many Other Financial Services
373(4)
1 Introduction
373(1)
2 Taxation of Fee-Based Services — South Africa
374(2)
3 Narrow Definition of Financial Services — Australia
376(1)
E Departures from Total Exemption — Zero-Rate Financial Intermediation Services Fully or Partially
377(3)
1 Singapore's Zero-Rating of Services to Taxable Customers
377(1)
2 New Zealand's Zero-Rating for Some Services Rendered by Financial Service Providers
378(2)
F Other Approaches to the Taxation of Financial Services
380(7)
1 Israel
380(1)
2 Italy's IRAP
381(1)
3 Canadian Flirtation with Taxation of Intermediation Services
381(1)
4 Proposals in the United States
382(1)
5 The Poddar—English Proposal
383(2)
6 Zee's Modified Reverse-Charging Approach
385(2)
7 Some Thoughts
387(1)
G Islamic Finance
387(1)
IV Discussion Questions
388(3)
12 Insurance 391(17)
I Introduction
391(2)
II Broad-Based Tax on Casualty Insurance
393(1)
III Exemption for Insurance Other than Life Insurance
394(5)
IV New Zealand Taxation of Insurance
399(6)
A Application of the NZ Taxation of Casualty Insurance to GST-Registered Policyholders
402(1)
B Application of the NZ Taxation of Casualty Insurance to Policyholders Who Are Consumers
403(1)
C Are Warranties "Insurance" in New Zealand?
404(1)
V Australia's Taxation of Insurance
405(1)
VI A U.S. Proposal -The Nunn-Domenici USA Tax System
406(1)
VII Discussion Questions
407(1)
13 Real Property 408(33)
I Introduction
408(1)
II Array of VAT Treatment of Real (or Immovable) Property
409(3)
III EU Approach to the Taxation of Real (or Immovable) Property
412(25)
A In General
412(1)
B Exemption for Leasing and Terminating a Lease
413(13)
1 What Is a "Lease" or "Letting" of Immovable Property?
413(5)
2 Disposition or Transfer of a Lease
418(8)
C Mixed Business-Personal Use and Change in Use
426(3)
D Tax-Motivated Transactions
429(1)
E Interaction of Provisions
429(8)
IV Proposals for the Taxation of Real Property
437(2)
V Discussion Questions
439(2)
14 An Anatomy Of The Chinese VAT 441(46)
I Introduction
441(1)
II Complementary Tax Base with a Turnover Tax on Services
442(3)
III Absence of the Business (or Economic) Activity Concept
445(3)
IV The VAT Threshold and Small-Scale Taxpayers
448(5)
A The Scope of the Small-Scale Taxpayers Regime
449(2)
B The Setting of Tax Rates for Small-Scale Taxpayers
451(1)
C Overall Incentive Effects
452(1)
V VAT Administration through the Golden Tax Project
453(10)
A The Mechanics of the GTP
454(8)
1 The Generation of VAT Invoices
454(6)
2 Claiming Input Credit on the Basis of Invoices
460(1)
3 Cross-Checking and Inspecting VAT Special Invoices
461(1)
B Controversy Surrounding the GTP
462(1)
VI The Grant and Denial of Input Credits
463(11)
A The General Unavailability of Refunds for Domestic Supplies
463(2)
B Reduced VAT Refunds for Exports
465(2)
C Denial of Input Credit for "Sham" Invoices
467(7)
VII "Refund as Collected" and "Simplified Collection" Mechanisms as Tax Preferences
474(6)
A Refund of VAT Paid
475(2)
B "Simplified Collection"
477(3)
VIII Managing the Transition from the BT to the VAT
480(6)
A Some Economic Effects of VAT Transitions
480(2)
B Special Challenges Facing China's Effort to Expand the VAT
482(1)
C The Initial Approach to Replacing the BT: 2012-2013
483(3)
IX Discussion Questions
486(1)
15 Interturisdictional Aspects 487(44)
I Introduction
487(2)
II EU's Commitment to Intra-Union Borderless Trade
489(9)
A Introduction
489(2)
B Selected Provisions of the Treaty Establishing the European Community
491(1)
C Timetable to Move Toward a Definitive VAT Regime
492(1)
D EU Member States Limited to One VAT
492(6)
III EU Commitment to an Origin VAT: Its Problems and Proposals
498(6)
A In General and Early Proposals
498(1)
B The Keen and Smith VIVAT for Intra-EU Trade
499(2)
C Howell Zee's VAT Voucher System
501(3)
IV Canadian VATs and the Bird/Gendron Dual VAT
504(4)
A Introduction
504(1)
B Variety of Canadian Approaches
504(2)
C Bird and Gendron Dual VAT Proposal
506(2)
V Brazil and the Varsano "Little Boat Model"
508(7)
A Brazil's Tax Structure in General
508(1)
B Varsano's "Little Boat Model"
509(2)
C McLure's CVAT Modification of the Varsano Proposal
511(3)
D General Comments
514(1)
VI Subnational VATS in India
515(3)
A Enacted State-Level VATs
515(1)
B Proposal for an Indian GST with an Integrated Interstate GST
516(2)
VII Origin-Based Business Value Tax to Finance Subnational Government
518(1)
VIII Reform of Subnational Taxes in the United States
519(9)
A Coexistence of Federal VAT and State Retail Sales Tax
522(1)
B Subnational VATs in Use and Proposed for the United States
523(4)
1 New Hampshire Business Enterprise Tax
523(1)
2 Michigan Single Business Tax
524(1)
3 Proposed State-Level VATs
525(2)
C Streamlined Sales and Use Tax in the United States
527(1)
IX Discussion Questions
528(3)
Appendix: VATs Worldwide 531(6)
Index 537
Alan Schenk is a distinguished professor at Wayne State University Law School. He has taught VAT at other universities in the United States and abroad. Schenk is the author of numerous articles and of several books on value added tax and goods and services tax, in addition to the first edition of this book, which was co-authored with the late Oliver Oldman. For the past eighteen years, he served as a technical advisor for the IMF's legal department, drafting VAT laws and regulations. He has consulted for foreign governments, testified before the US Congress, and served as an expert in arbitrations involving VAT. Victor Thuronyi served as lead counsel (taxation) in the IMF's legal department until 2013, where he coordinated the department's program of technical assistance in tax law, focusing on drafting new tax laws or on substantial revision of existing ones, as well as continuing to teach. He is the author of Comparative Tax Law (2003) and numerous articles and book chapters on tax law and policy, and he is the editor of and a contributing author to Tax Law Design and Drafting (2000). Wei Cui is an associate professor in the faculty of law at the University of British Columbia. Prior to 2013, he taught and practiced law in Beijing and assisted Chinese government agencies on a variety of tax legislative and regulatory matters involving business and individual income taxation, the VAT, and tax administration. He served as senior tax counsel for the China Investment Corporation between 2009 and 2010, and he is a current member of the Permanent Scientific Committee of the International Fiscal Association.
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