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Windows 2.1 is a release of Microsoft Windows.It was released to manufacturing on May 27, 1988, as a successor to Windows 2.0.. It was released with two different variants with differing CPU compatibility, also known as Windows/286 and Windows/386, so the versions are considered to be similar to its predecessor.
This administrative relief is known as low-value consignment relief (LVCR). Member states which allow the relief must ensure that it does not cause competitive distortion or allow VAT abuse. The maximum allowed value of the goods for which the exception applies is set by the importing state, and can be between €10 and €22. [1]
VAT is an indirect tax because the tax is paid to the government by the seller (the business) rather than the person who ultimately bears the economic burden of the tax (the consumer). [4] Opponents of VAT claim it is a regressive tax because the poorest people spend a higher proportion of their disposable income on VAT than the richest people. [5]
[citation needed] Until 2001, VAT was charged at the full rate on sanitary towels. [58] VAT was introduced in 1973, in consequence of Britain's entry to the European Economic Community, at a standard rate of 10 per cent. In July 1974, the standard rate became 8 per cent and from October that year petrol was taxed at a new higher rate of 25 per ...
VAT is generally charged at the border, at the same time as customs duty and uses the price determined by customs. [24] However, as a result of EU administrative VAT relief, an exception called Low Value Consignment Relief is allowed on low-value shipments. VAT paid on importation is treated as input VAT in the same way as domestic purchases.
For a VAT and sales tax of identical rates, the total tax paid is the same, but it is paid at differing points in the process. VAT is usually administrated by requiring the company to complete a VAT return, giving details of VAT it has been charged (referred to as input tax) and VAT it has charged to others (referred to as output tax).
The VAT (French: taxe sur la valeur ajoutée, TVA) is a general consumption tax, which applies to goods and services located in France. It is a proportional tax on output collected by the companies and ultimately completely supported by the final buyer, i.e. the consumer, since it is included in the price of goods or services.
CBO estimated that a 5 percentage point VAT would collect between $1.9 trillion and $2.9 trillion over the 2019-2028 period, depending on the base of activity to which the tax was applied. Such a tax would be regressive, as it would impact lower income persons relatively more.