In the News II

Quote: kenarman

It is the exact opposite to a stealth tax AZD. The the only tax that the government actually keeps is what the final consumer pays, which for the average consumer is right on his till tape at the store. All the VAT that is paid along the way by the various companies involved in making and distributing the product is returned to those companies if they aren't the final seller of the product.

That is what makes it stealth. Not seeing it along the way, just at the end.

Quote: AZDuffman

That is what makes it stealth. Not seeing it along the way, just at the end.

But government doesn't get any of the money along the way. It only receives the end amount which is fully exposed to the final consumer.

If I am a middle man in the chain of the product getting to the consumer I am in effect refunded for any VAT I paid. The VAT I put on my cost to the next person in line is fully deductible by them. This goes on until final consumer of the product who, when he pays doesn't get refunded.

When the middle men are calculating their margins they don't need to mark up the VAT because it was not a cost to them other than vary minimal accounting costs.

Quote: kenarman

But government doesn't get any of the money along the way. It only receives the end amount which is fully exposed to the final consumer.

If I am a middle man in the chain of the product getting to the consumer I am in effect refunded for any VAT I paid. The VAT I put on my cost to the next person in line is fully deductible by them. This goes on until final consumer of the product who, when he pays doesn't get refunded.

When the middle men are calculating their margins they don't need to mark up the VAT because it was not a cost to them other than vary minimal accounting costs.

Doesn't matter when they get it, matters how much you are paying without really seeing how much goes to tax.

Quote: Evenbob

Today is June 28th which happens to be Elon Musk's 52nd birthday.

It also happens to be my birthday which I can prove by posting the date off my driver's license if necessary.
Me and Elon Musk share the same birthday, if only we shared the same genes this would be a very good day.

Happy birthday EB.

Quote: AZDuffman

Doesn't matter when they get it, matters how much you are paying without really seeing how much goes to tax.

You see the exact net that .gov gets, THE TAX AMOUNT ON THE FINAL INVOICE WHICH IS IDENTIFIED ON A SEPARATE LINE. Everything before that is a net 0 for .gov.

I have dealt with the Canadian VAT (Called GST in Canada) as a business owner since 1991 when it was implemented and replaced the hidden federal sales taxes. It was brought in by a righty Conservative government and our lefty parties fought tooth and nail against it. I am actually quite surprised ADZ that you don't understand how a VAT works if implemented properly. Maybe you have some experience with a partial VAT in some jurisdiction that skims from the earlier payments?

Quote: Evenbob

Today is June 28th which happens to be Elon Musk's 52nd birthday.

It also happens to be my birthday which I can prove by posting the date off my driver's license if necessary.
Me and Elon Musk share the same birthday, if only we shared the same genes this would be a very good day.

You share a birthday with my grandson. I am surprised you still have a drivers license at your age EB :-)

Quote: kenarman

You share a birthday with my grandson. I am surprised you still have a drivers license at your age EB :-)

My father-in-law had his driver's license till he was 88 and they had to literally take it from him forcefully. I'm not quite 88 yet. In the building where my wife lives there's a 102-year-old woman who still drives and I'm not joking. She only goes to church and the store and her doctor but she drives there herself. I read last year did a trucking firm hired a long distance driver who was 85. So I have a few years to go.

They found sone human remains in the Titan Sub wreckage. I assume whatever was found was squashed like an extra thin meat pancake.

Quote: kenarman

You see the exact net that .gov gets, THE TAX AMOUNT ON THE FINAL INVOICE WHICH IS IDENTIFIED ON A SEPARATE LINE. Everything before that is a net 0 for .gov.

I have dealt with the Canadian VAT (Called GST in Canada) as a business owner since 1991 when it was implemented and replaced the hidden federal sales taxes. It was brought in by a righty Conservative government and our lefty parties fought tooth and nail against it. I am actually quite surprised ADZ that you don't understand how a VAT works if implemented properly. Maybe you have some experience with a partial VAT in some jurisdiction that skims from the earlier payments?

My experience in Canada was that it was on the receipt like a sales tax and I could get a refund on it under certain conditions at the border. IOW, it was a sales tax to me.

From what I have heard in Europe it is hidden, you just see the price. That is the system where it is most dangerous.

Quote: AZDuffman

My experience in Canada was that it was on the receipt like a sales tax and I could get a refund on it under certain conditions at the border. IOW, it was a sales tax to me.

From what I have heard in Europe it is hidden, you just see the price. That is the system where it is most dangerous.

I would classify it as a type of sales tax. You are right, foreign visitors are able to get a large portion of it refunded if they have the paperwork. I don't know all the rules for the refund because it of course doesn't effect me.

Making the tax visible was the main reason our conservative government brought it in.