By Dr. Hans Fehr, Dr. Christoph Rosenberg, Professor Dr. Wolfgang Wiegard (auth.)
This e-book makes use of a computable normal equilibrium framework to eval uate fresh value-added tax reform proposals within the ecu Union from a welfare viewpoint. After the e-book of the "White Paper" (1985) at the final touch of the interior eu industry, an extreme and heated debate approximately tax impediments to loose exchange set in. based on the unique plans of the fee of the ecu Union, not just actual border controls but in addition financial frontiers in the ecu Union may were abolished on New Year's Day 1993. With admire to worth further taxation this amounted to changing the vacation spot by means of the starting place precept. although the foundation precept were favourite by means of a few economists from the institution of a typical eu value-added tax approach, time used to be no longer but ripe for this variation. In December 1991, the ECOFIN Council may perhaps in simple terms agree at the so referred to as transitional process. In essence, those transitional preparations retain the vacation spot precept so far as attainable yet shift the border tax technique from nationwide frontiers to corporations. The transitional process is meant to run out on December 31, 1996, with the ultimate resolution for value-added taxation within the eu Union being determined upon via the ECOFIN Council until eventually December, 1995. within the occasion of no selection the transitional preparations could be persevered. the main most probably resolution can be a change to the foundation precept mixed with a few clearing mechanism to avoid significant profit reallocations among member states.
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Extra resources for Welfare Effects of Value-Added Tax Harmonization in Europe: A Computable General Equilibrium Analysis
Sample text
Go ~ = cp o (') -;: ,::l... = -g. 4. International Taxation Principles 33 exports requires some documentary evidence that the goods have, indeed, left the country. Until December 31, 1992 this evidence was mainly based on border controls and frontier formalities. If the credit method is used, zero rating of exports may be achieved as follows. Just as in our earlier examples, the second industry in country D calculates its gross tax: liability and deducts all input VAT. e. exports leave the country at a net-of-tax: price of ECU 100.
We can now turn to the calculation of tax revenues under the destination principle. The tax credit method, which was explained in detail in the preceding chapter, is applied. 2. A Numerical Example The calculation of tax liabilities under the DP will be illustrated for two different cases. 2). The second case considers a differentiated rate structure in both countries. The reduced rates are 5 per cent in D and 10 per cent in F, and the standard rates are 10 per cent and 20 per cent, respectively.
42-44) discuss reasons for a uniform VAT rate. 5; 7 Germany 7 Greece 6 Ireland 0; 2; 6; 10 Italy 2;9 Luxembourg 3;6 Netherlands 6 Portugal a 8 Spain 6 United Kingdom 0 Countries Table 2. 5 30 28 38 36 February 1, 1993 Reduced Standard Higher .. 01 ~ ~ n tI) ~ ..... 3. Calculating Tax Liabilities In Table 1 above we calculated the tax bases for different types of value-added taxes by subtracting purchased inputs from sales. The simplest method of calculating tax liabilities would be to apply the statutory VAT rate to these bases.