Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 13, 2024

Explain what Value-Added Tax (VAT) means. (2) Explain when (in what circumstances) and why a VAT is likely to be used. (3) Give one example

Explain what "Value-Added Tax" (VAT) means. (2) Explain when (in what circumstances) and why a VAT is likely to be used. (3) Give one example of a VAT, and explain the process through which the VAT is imposed.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

VAT is charged by the central government on the sale of service and good to the consumers ind... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics

Authors: Gregory Mankiw, Mark P. Taylor

5th Edition

1473768543, 978-1473768543

More Books

Students explore these related Economics questions

Question

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Answered: 3 weeks ago

Question

PLEASE GIVE CORRECT ANSWERS Prove that the number of comparators in any sorting network is (n log n). [4 marks] (ii) What does Part (d)(i) imply in terms of the depth of any sorting network? [1 mark]...

Answered: 3 weeks ago

Question

Write an alternative definition that is tail-recursive (iterative) and makes use of accumulator variables. [10 marks] Explain why your alternative definition executes more efficiently. [3 marks] 1...

Answered: 3 weeks ago

Question

Write an application that works as a comparator. Your program should read two numbers from the user and print 0 if they are equal to each other, 1 if the first number is greater, and 1 if the second...

Answered: 3 weeks ago

Question

MacBride Enterprises sold $200,000 of bonds on December 31, 2011. These bonds mature on December 31, 2018. A portion of the amortization table appears below. Required: 1. Indicate the stated annual...

Answered: 3 weeks ago

Question

1. What are the benefits to a law firm of outsourcing of legal services to a foreign country? What are the potential costs and risks? 2. What kind of legal services are most amenable to outsourcing?...

Answered: 3 weeks ago

Question

Lightner Witmer originally defined clinical psychology as a discipline with similarities to medicine, education, and sociology. In your opinion, to what extent does contemporary clinical psychology...

Answered: 3 weeks ago

Question

Labor data for making one gallon of fnished product in Bing Company are as follows. (1) Pricehourly wage rate $14.00, payroll taxes $0.80, and fringe benefits $1.20. (2) Quantityactual production...

Answered: 3 weeks ago

Question

Question 2 1 3 Points Which date related to dividends would not result in a transaction to the accounting equation? Date of record Date of payment Date of declaration Last saved 1 0 : 0 4 : 5 8 AM...

Answered: 3 weeks ago

Question

In 2018, John and Shannon O'Banion, who live at 3222 Pinon Drive, Mesa, CO 81643, file as married filing jointly. John's social security number is 412-34-5670 (date of birth 5/12/1980), and Shannons...

Answered: 3 weeks ago

Question

please help and thank you Problem. 9 : Use polar coordinates to find the volume of the solid that lies inside the sphere x2 + y + 22 = 64 and outside the cylinder a + y? = 25. volume : ? Problem. 10...

Answered: 3 weeks ago

Question

(a) Let Z be a standard normal. Find Pr(-1.96 3). (c) Let X be a t-distribution with df=10. Estimate Pr(-2.2 X*)=.05? (e) Let X be a F10,00 distribution. What value X* solves Pr(X>X*)=.05?

Answered: 3 weeks ago

Question

Time: 75 minutes Problem 1 (2 points) Calculate I = fc(1+ y)dl, where C is the under half of the circle 2+ y = 4.

Answered: 3 weeks ago

Question

Build a LP model for the following scenario, but don't solve the LP model that you made. A company manufactures two products whose unit profits are $17 and $15, respectively. The company has budgeted...

Answered: 3 weeks ago

Question

What is the intercept for the regression equation to forecast demand, in the worksheet: Food Truck Demand?

Answered: 3 weeks ago

Question

What milk or dairy preferences do you and your family have? Have they changed? Why or why not?

Answered: 3 weeks ago

Question

Actual direct materials used Actual direct labor used 35,280 lbs. at $6.00 per lb. 11,050 hours for a total of $230,945 66,00 Actual units produced Budgeted standards for each unit produced are 0.50...

Answered: 3 weeks ago

Question

Write out the formula for the total costs of carrying and ordering inventory, and then use the formula to derive the EOQ model. Andria Mullins, financial manager of Webster Electronics, has been...

Answered: 3 weeks ago

Question

The government decides to reduce air pollution by reducing the consumption of vehicle fuel. It imposes 0.50 tax for each litre of fuel sold. a. Should it impose this tax on fuel companies or...

Answered: 3 weeks ago

Question

What is the role of the financial system? Name and describe two markets that are part of the financial system in the economy of the country in which you are studying. What is a financial...

Answered: 3 weeks ago

Question

Explain why there has been criticism of rent controls and whether this criticism needs revision in the light of new research.

Answered: 3 weeks ago

Question

1. Bill Gates and Paul Allen who were childhood friends founded Microsoft in 1975. Bill met Steve Ballmer who would later become the CEO of Microsoft at Stanford.

Answered: 3 weeks ago

Question

10. Microsoft Word if youre looking for maximum functionality in your word processing far outperforms Google Docs.

Answered: 3 weeks ago

Question

2. Bill Gates met the man who would later become the CEO of Microsoft at Stanford.

Answered: 3 weeks ago

Previous Question Next Question