output tax

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Output Tax

In the United Kingdom, the value added tax that a business charges customers on the products it sells. This contrasts with the input tax, which is the VAT that the business pays on its inventory and other goods. If the output tax exceeds the input tax, the business must pay the difference to the government. On the other hand, if the input tax exceeds the output, the government refunds the difference to the business.
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output tax

see VALUE-ADDED TAX.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in periodicals archive ?
ISLAMABAD -- The Fertiliser Manufacturers of Pakistan Advisory Council has voiced concern over new budget proposals for the fertiliser industry and the mismatch between input and output taxes that has led to accumulation of huge refund claims.
At present, there is a mismatch between input and output taxes. According to the standard principle, taxes are higher on finished products and are lower on raw material, but the case is reverse for the fertiliser industry, which has given birth to the refund problem.
Humayun Akhter and Chairman FBR to address the mismatch between input and output taxes namely Rs.
He suggested the authorities to decrease the sales tax on urea to end inconsistencies in input and output taxes, which would ensure accumulation of tax refunds.
The fertilizer manufacturers had pointed out that the restructuring of output taxes was welcomed provided, it was matched by similar reductions on the input side as well.
The fertiliser manufacturers had welcomed the restructuring of output taxes provided, it was matched by similar reductions on input side as well.
What will be the treatment of input and output taxes for high seas sales?
However, easier availability of tax credits is likely to be coupled with early cash outflow towards output taxes as taxable events might be advanced.
"Not only is a thorough understanding of tax implications and how they will in turn affect the product pricing, cash flow and profitability of the business a pre-requisite, but the knowledge on key concepts, such as tax refunds, tax exemptions, zero rated taxes, tax rebates, input and output taxes as well as tax treaties with other countries is important when considering any future recruitment or professional development," Nickisch said.
(This appears to be what Stiglitz (2000, 224-5), has in mind.) Real world output taxes do not appear to be calculated that way.
Will there be a targeting of tax instruments with output taxes used for financing public goods and tax competition and emission taxes solely for combating emissions?