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e. A value-added tax ( VAT or goods and services tax ( GST ), general consumption tax (GCT) ), is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax. VAT is an indirect tax because the consumer who ultimately bears the burden of ...
The Constitution of the Philippines ( Filipino: Saligang Batas ng Pilipinas or Konstitusyon ng Pilipinas) is the supreme law of the Philippines. Its final draft was completed by the Constitutional Commission on October 12, 1986, and ratified by a nationwide plebiscite on February 2, 1987. The Constitution remains unamended to this day.
The United States Bill of Rights comprises the first ten amendments to the United States Constitution.Proposed following the often bitter 1787–88 debate over the ratification of the Constitution and written to address the objections raised by Anti-Federalists, the Bill of Rights amendments add to the Constitution specific guarantees of personal freedoms and rights, clear limitations on the ...
The Goods and Services Tax ( GST) is an abolished value-added tax in Malaysia. GST is levied on most transactions in the production process, but is refunded with exception of Blocked Input Tax, to all parties in the chain of production other than the final consumer. The existing standard rate for GST effective from 1 April 2015 is 6%.
In economics, zero-rated supply refers to items subject to a 0% VAT tax on their input supplies. The term is applied to items that would normally be taxed under valued-added systems such as Europe 's Value Added Tax (VAT) or Canada 's Goods and Services Tax (GST). Examples of these items include most exports, basic groceries, and prescription ...
A bill of rights, sometimes called a declaration of rights or a charter of rights, is a list of the most important rights to the citizens of a country. The purpose is to protect those rights against infringement from public officials and private citizens. [ 1] Bills of rights may be entrenched or unentrenched.
Tax Reform for Acceleration and Inclusion Law. The Tax Reform for Acceleration and Inclusion Law ( TRAIN Law ), [ 1] officially designated as Republic Act No. 10963, is the initial package of the Comprehensive Tax Reform Program (CTRP) signed into law by President Rodrigo Duterte on December 19, 2017. [ 2] The TRAIN Act is the first of four ...
Goods and Services Tax (India) The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and service. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes.