Source: Taxation In Australia Journal Article
Published Date: 1 May 2018
Value-added tax (VAT) has become the dominant form of consumption tax around the world. This article examines the development of the tax from its early years to the present day in the context of developed, transitioning and developing economies. Empirical examples of the tax's implementation in various countries are also drawn on and ultimately the degree to which VAT provides the perfect solution to the taxation of consumption assessed. While the inherent complexity surrounding tax systems around the world means that there will never be absolute agreement on what is an entirely perfect consumption tax, there must be good reasons why VAT has enjoyed such widespread acceptance and can therefore be considered as the perfect solution to the taxation of consumption.
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