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  2. Value-added tax - Wikipedia

    en.wikipedia.org/wiki/Value-added_tax

    [98] [99] [100] However, two states enacted a form of VAT in lieu of a business income tax. Michigan used a form of VAT known as the "Single Business Tax" (SBT) from 1975 until voter-initiated legislation repealed it, replaced by the Michigan Business Tax in 2008. [101] Hawaii has a 4% General Excise Tax (GET) that is charged on gross business ...

  3. List of countries by tax rates - Wikipedia

    en.wikipedia.org/wiki/List_of_countries_by_tax_rates

    25% CAS if earning more than 12 minimum wages in a year; 10% CASS, taxable sum capped at 12 minimum wages per year, e.g. you pay a maximum of 2280 RON as CASS contribution in 2018 if you earn over RON 22,800 for the whole year) 10% income tax

  4. Indirect tax - Wikipedia

    en.wikipedia.org/wiki/Indirect_tax

    An individual with the income $10,000 pays 1% of their income as the tax while a poorer individual with income $5,000 pays 2% of their income. Moreover, the regressivity of indirect tax systems affects the total progressivity of tax systems of countries given the importance of indirect tax revenues in government budget and the degree of ...

  5. Value-added tax in the United Kingdom - Wikipedia

    en.wikipedia.org/wiki/Value-added_tax_in_the...

    The Office for National Statistics report showed that in 2009/10 the poorest 20% spent 8.7% of their gross income on VAT, whereas the richest 20% spent only 4.0% of their gross income on VAT. [56] Similarly, the poorest 20% spent 9.7% of their disposable income on VAT, whereas the richest 20% spent only 5.2% of their disposable income on VAT. [56]

  6. How much money is the UK government borrowing, and does it ...

    www.aol.com/news/much-money-uk-government...

    The government gets most of its income from taxes. For example, workers pay income tax and national insurance, everyone pays VAT on certain goods, and companies pay tax on profits.

  7. Tax - Wikipedia

    en.wikipedia.org/wiki/Tax

    On average, high-income countries have tax revenue as a percentage of GDP of around 22%, compared to 18% in middle-income countries and 14% in low-income countries. In high-income countries, the highest tax-to-GDP ratio is in Denmark at 47% and the lowest is in Kuwait at 0.8%, reflecting low taxes from strong oil revenues. The long-term average ...

  8. European Union value added tax - Wikipedia

    en.wikipedia.org/wiki/European_Union_value_added_tax

    EU VAT Tax Rates. The European Union value-added tax (or EU VAT) is a value added tax on goods and services within the European Union (EU). The EU's institutions do not collect the tax, but EU member states are each required to adopt in national legislation a value added tax that complies with the EU VAT code.

  9. Sales taxes in the United States - Wikipedia

    en.wikipedia.org/wiki/Sales_taxes_in_the_United...

    Residents of Washington, who purchase goods for use in Washington, must pay a use tax in lieu of a sales tax, if any one of four conditions is true: If a Washington resident purchases goods and certain services in other states that do not charge a sales tax or charge a sales tax rate less than the sales tax rate in Washington, or if an out-of ...