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Suppose that the HST tax rate is increased to 20% value added tax. 1. Complete the following table: Producer Sales Tax Assessment Tax Credit Allowed
Suppose that the HST tax rate is increased to 20% value added tax. 1. Complete the following table: Producer Sales Tax Assessment Tax Credit Allowed Tax Due Salt Mine $200 million Salt Refiner $350 million $380 million Salt Warehouse Grocer $500 million 2. The total taxes collected by the government are $ 3. If the HST was replaced with a sales tax at a rate of 10%, and if all sales were taxed every time a transaction occurred, the total tax collected would be
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