turnover tax


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Turnover Tax

A tax paid on a good during or after its manufacture, rather than when it is sold. It is usually calculated as a percentage of the value of a good.

turnover tax

see VALUE-ADDED TAX.

turnover tax

see SALES TAX.
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While the Tories will say this is just another Red Ken Loony Left scheme, the fact is that Nigel Farage made the same point about the need for a turnover tax at his UKIP conference.
However, this would need to be adopted internationally in order to be successful and, under EU rules, the only turnover tax permitted at present is VAT.
He said turnover tax on income of businesses was slashed by 50 per cent, a move that will increase liquidity and cash flow.
A minimal turnover tax will impede infinite financial derivative layering that creates complexity, opacity, and potential for systemic risks.
The FBR, however, hinted at reduction in the rate of turnover tax from one percent to some lower level for the pharmaceutical and transport sector particularly the trucking industry as their margins are low.
The airline reported that tourist inflows to Fiji were impacted negatively in the final quarter by uncertainty over the imposition of a hotel turnover tax, fallout from adverse reporting of Fiji's stability ahead of its general election and high hotel charges compared to competing destinations.
Given this inevitably frees consumers from their liability under VAT, while retaining other VAT-like features, IRAP "must be characterised as a turnover tax prohibited by .
The legislation also radically simplified Russia's obsolete social service payments system and abolished a 5% business turnover tax.
The legislation also radically simplifies Russia's obsolete social service payments system and abolishes a 5% business turnover tax.
Luce announced a new 2% business turnover tax and warned that petrol prices may well go up, unless international petroleum
Finland levies what it refers to as share transfer tax for non-exchange deals and there is a stock exchange turnover tax in Austria, Belgium, Greece and Italy and a more complicated arrangement in France.
5 million to pay turnover tax @2 per cent only along with 1 per cent final Income Tax.