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In the 1950s and 1960s, Lotus Cars sold its Lotus Seven car in CKD form to avoid the UK purchase tax that applied to sales of fully assembled vehicles. By 1959, and with the introduction of the Mini, British Motor Corporation (BMC) products were still either imported or assembled from CKD kits in several international markets.
A tax-free shopping retailer. Tax-free shopping (TFS) is the buying of goods in another country or state and obtaining a refund of the sales tax which has been collected by the retailer on those goods. [1] The sales tax may be variously described as a sales tax, goods and services tax (GST), value added tax (VAT), or consumption tax.
A U-bolt is a bolt in the shape of the letter U with screw threads on both ends. U-bolts have primarily been used to support pipework. Because of this, U-bolt sizes are given in pipe measurements. A U-bolt is described by the size of pipe it is supporting. For example, a 40 Nominal Bore U-bolt would be asked for by pipe work engineers, and only ...
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Between October 1940 and March 1973 the UK had a consumption tax called Purchase Tax, which was levied at different rates depending on an assessment of goods' luxuriousness. [4] Purchase Tax was applied to the wholesale price, introduced during World War II, initially at a rate of 33.3%. This was doubled in April 1942 to 66.6%, and further ...