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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: maceng2 who wrote (51195)	6/22/2004 10:37:38 AM
From: Tommaso	Read Replies (1) \| Respond to of 74559

>>>UK VAT at 17.5% is draconian, and an effective tax.<< That was certainly my impression. In the United States, I see individual people being more careful about filing their sales taxes with the state, if they sell something, while people who supply services (painting, yard work, etc) can easily get away without reporting this as income and often do not report it. I don't know what the state does to maintain the sales tax discipline, but it must be a credible threat. VAT seems to be the same. I guess you can be quickly put entirely out of business, which may be worse than what the IRS threatens.