The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Oblomov who wrote (72983)	3/4/2007 3:47:11 PM
From: Elroy Jetson	Read Replies (1) of 306849

VAT taxes normally a single tax on sale. This is facilitated by allowing a deduction of prior VAT tax paid when a item is sold on. I'm not aware of any VAT taxation system which is not implemented in this manner. Thus if a VAT tax is 10%, by the time the goods are sold to the consumer, the total tax is 10%. The taxation system This_is_the_end describes in Hawaii, if correct, results in a total tax which is far higher than the tax rate - which would heavily penalize distribution systems where goods pass through multiple levels. For this reason, I would be very surprised if Hawaii's Sales Tax system actually operates in this manner. Most Sales Tax systems operate like that in California where the Sales Tax is paid only by the final consumer. This results in the same effect as the VAT system, but through a different method. en.wikipedia.org .

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