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Value added tax (Norwegian: merverdiavgift) is a tax on consumption that must be paid on domestic sales of goods and services liable for tax in all links in the chain of distribution and on imports. The rates for VAT for 2013 are as follows: 25% general rate; 15% on foodstuffs
Map of the world showing national-level sales tax / VAT rates as of October 2019. A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
The U.S. imposes a 15% withholding tax on the amount realized in connection with the sale of a U.S. real property interest unless advance IRS approval is obtained for a lower rate. [15] Canada imposes similar rules for 25% withholding, and withholding on sale of business real property is 50% of the price but may be reduced on application.
The U.S. treats such gains in three distinct manners: a) gain from sale of purchased inventory is sourced based on where title to the goods passes; [184] b) gain from sale of inventory produced by the person (or certain related persons) is sourced 50% based on title passage and 50% based on location of production and certain assets; [185] c ...
A value-added tax (VAT), or goods and services tax (GST), is a tax on exchanges. It is levied on the added value that results from each exchange. It differs from a sales tax because a sales tax is levied on the total value of the exchange. For this reason, a VAT is neutral with respect to the number of passages that there are between the ...
An indirect tax (such as a sales tax, per unit tax, value-added tax (VAT), excise tax, consumption tax, or tariff) is a tax that is levied upon goods and services before they reach the customer who ultimately pays the indirect tax as a part of market price of the good or service purchased. Alternatively, if the entity who pays taxes to the tax ...
The withholding tax rate according to Art. 43 a Para. 1 German Income Tax Act is 25% plus solidarity surcharge of 5.5% on the final withholding tax and possible church tax (8 or 9% of the flat tax). This makes a total of Abgeltungsteuer of 26.375% church tax excluded.
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 .