Value Added Tax: A Comparative Approach (Cambridge Tax Law Series) PDF
Preview Value Added Tax: A Comparative Approach (Cambridge Tax Law Series)
P1:KAE 0521851122pre 0521866111 printer:cupusbw August18,2006 8:24 This page intentionally left blank ii P1:KAE 0521851122pre 0521866111 printer:cupusbw August18,2006 8:24 Value Added Tax This book integrates legal, economic, and administrative materials about value addedtax.Itsprincipalpurposeistoprovidecomprehensiveteachingtools–laws, cases,analyticalexercises,andquestionsdrawnfromtheexperienceofcountries andorganizationsaroundtheworld.Italsoservesasaresourcefortaxpractitioners andgovernmentofficialsthatmustgrapplewithissuesundertheirVATortheir prospectiveVAT.Thecomparativepresentationofthisvolumeoffersananalysisof policyissuesrelatingtotaxstructureandtaxbaseaswellasinsightsintohowcases arisingoutofVATdisputeshavebeenresolved.Inthenewedition,theauthorshave expandedthecoveragetoincludenewVAT-relateddevelopmentsinEurope,Asia, Africa,andAustralia.Anewchapteronfinancialserviceshasbeenaddedaswell asananalysisofsignificantnewcases. Alan Schenk teaches VAT at Wayne State University and has taught VAT at other universities such as Harvard University, the University of Michigan, and theUniversityofSanDiego.Forthepasteightyears,ProfessorSchenkhasserved asTechnicalAdvisorfortheInternationalMonetaryFund,draftingandreviewing legislativeproposalsforsalesandvalueaddedtaxforseveralcountriesinAfrica andforemergingeconomiesofEasternEurope.Heistheauthoroffourbooksand has published many articles on VAT including several involving the taxation of financialservices. OliverOldmanisLearnedHandProfessorofLaw,Emeritus,attheHarvardLaw School.Fortwenty-fiveyearsuntilJuly1989,hewastheDirectoroftheSchool’s International Tax Program. He has been a member of the Law School Faculty since1955whenhebegandirectingtheTaxProgram’strainingactivitiesandwas appointedProfessorofLawin1961.Hebeganteachingaboutvalueaddedtaxesin hisComparativeTaxPolicycourseinthe1960sandofferedhisfirstseparatecourse onthevalueaddedtaxin1979.HehastaughtthecoursecontinuouslyatHarvard LawSchoolsincethen.ProfessorSchenkhasbeenafrequentguestlecturer. i P1:KAE 0521851122pre 0521866111 printer:cupusbw August18,2006 8:24 ii P1:KAE 0521851122pre 0521866111 printer:cupusbw August18,2006 8:24 Value Added Tax A Comparative Approach AlanSchenk WayneStateUniversity OliverOldman HarvardLawSchool iii cambridge university press Cambridge,NewYork,Melbourne,Madrid,CapeTown,Singapore,SãoPaulo Cambridge University Press TheEdinburghBuilding,Cambridgecb22ru,UK PublishedintheUnitedStatesofAmericabyCambridgeUniversityPress,NewYork www.cambridge.org Information on this title: www.cambridge.org/9780521851121 ©AlanSchenkandOliverOldman2007 Thispublicationisincopyright.Subjecttostatutoryexceptionandtotheprovisionof relevantcollectivelicensingagreements,noreproductionofanypartmaytakeplace withoutthewrittenpermissionofCambridgeUniversityPress. Firstpublishedinprintformat 2006 isbn-13 978-0-511-24937-2eBook(EBL) isbn-10 0-511-24937-3eBook(EBL) isbn-13 978-0-521-85112-1hardback isbn-10 0-521-85112-2hardback isbn-13 978-0-521-61656-0paperback isbn-10 0-521-61656-5paperback CambridgeUniversityPresshasnoresponsibilityforthepersistenceoraccuracyofurls forexternalorthird-partyinternetwebsitesreferredtointhispublication,anddoesnot guaranteethatanycontentonsuchwebsitesis,orwillremain,accurateorappropriate. P1:KAE 0521851122pre 0521866111 printer:cupusbw August18,2006 8:24 To Jared,Ethan,Daniel,Jordan&Rae AS Sumi&Robyn OO v P1:KAE 0521851122pre 0521866111 printer:cupusbw August18,2006 8:24 vi P1:KAE 0521851122pre 0521866111 printer:cupusbw August18,2006 8:24 Contents ListofTables,Figures,andCharts pagexxiii ListofCases xxv PrefacetotheRevisedEdition xxxiii 1 SurveyofTaxesonConsumptionandIncome, andIntroductiontoValueAddedTax 1 I. Introduction 1 II. DevelopmentofTaxesonConsumption–ABriefReview ofHistory 2 III. DirectandIndirectTaxesonanIncomeorConsumption Base 5 A. DirectandIndirectTaxes 5 B. IncomeandConsumptionBaseforTax 8 IV. TaxStructuresinDevelopedandDevelopingEconomies 13 V. BroadeningtheBaseofaTaxSystem 16 VI. TheValueAddedTax 16 VII. TheProliferationofVATs 17 VIII. GlossaryofVATTerms 19 IX. OutlineofIssuesPertainingtoConsumptionTaxes 23 X. DiscussionQuestions 24 AppendixA:DevelopmentTaxation 25 I. Introduction 25 II. TheReformofIndirectTaxation 27 vii P1:KAE 0521851122pre 0521866111 printer:cupusbw August18,2006 8:24 viii Contents III. TaxingImports 27 IV. TaxingExports 28 2 FormsofConsumption-BasedTaxesandAltering theTaxBase 30 I. FormsofConsumption-BasedTaxes 30 A. Introduction 30 B. Consumption-BasedDirectTaxonIndividuals 30 C. SingleandMultistageSalesTaxes 33 II. OverviewoftheValueAddedTax 33 A. InGeneral 33 B. JurisdictionalReachoftheTax 35 C. InclusionofVATinTaxBase 35 D. InclusionofCapitalGoodsinTaxBase 36 III. MethodsofCalculatingVATLiability 38 A. Credit-InvoiceVAT 38 B. Credit-SubtractionVATThatDoesNotRelyonVAT Invoices 41 C. Sales-SubtractionVAT 42 D. Addition-MethodVAT 43 IV. MethodsofAlteringtheTaxBase 46 A. EntityExemptions 48 B. ZeroRating 50 C. TransactionExemption 52 D. AlterationofBasebyGrantingorDenyingCredits 54 E. MultipleRates 54 V. DiscussionQuestions 55 3 VarietiesofVATinUse 58 I. Introduction 58 II. EuropeanUnion:AMatureVATResistant toChange 59 A. VATintheEuropeanCommunity 59 B. EuropeanCourtofJustice 63 C. ApplicationoftheEUSixthVATDirective 64 1. Historyandproposalforrecodification 64 2. WhenisataxonconsumptionnotaturnovertaxorVATin violationofthesixthdirective? 64
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