Purchase Tax


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Purchase Tax

A proposed tax on a purchase, rather than on a sale. That is, the purchaser of a good, rather than the seller, is obligated to pay the tax. In practice, there is little difference between a purchase tax and a sales tax because sellers usually pass on the tax to purchasers in the form of a higher price. A purchase tax has been suggested as an alternative to the income tax in the United States.
References in periodicals archive ?
At its launch the Popular was Britain's lowest priced car, coming in at under PS400 including Purchase Tax.
Some members of Brexit even suggest that the EU is responsible for us having to pay VAT, our VAT rate is made by our own government, we paid this even before the EU was formed, which in those days was called purchase tax: such taxes are used by every democratic nation, which means that the people who spend the most pay the most tax.
I hasten to assure him that I am fully aware of the reasons for the introduction of purchase tax in World War Two.
Purchase tax is in the range of three percent, applicable on local and foreign businessmen.
Sales of new-energy vehicles have been strong since the second half of 2014 following the governments announcement to waive the purchase tax for new-energy vehicles in August.
The unfair Council Tax, the burden of which falls unfairly on a minority, should be replaced by a local purchase tax, (not paid on food, fuel, etc.), this would of course have to be applied nationally at a standard rate so there would be no benefit in crossing boundaries.
Continuing the tradition of good value British sports cars, Healey decided to make a high performance car costing PS1000, following the Government's decision to double the purchase tax on luxury cars over that value.
* Repeal the PPACA health insurance purchase tax credit for small employers;
Worried over farmer backlash due to sugar mills not buying their crop, the Akhilesh Yadav government waived entry tax and purchase tax to soften the high procurement price but factory owners were not satisfied.
Republic Bancorp has announced that it is pulling out of a deal to purchase tax preparing firm, H&R Block's banking arm.
BANKING AND CREDIT NEWS-May 21, 2013-Encore Capital Group borrows to purchase tax lien certificates(C)2013 M2 COMMUNICATIONS http://www.m2.com
"The recent climbdown by the UK government reducing static caravan purchase tax from the intended 20% to 5% has been a welcome boost to the industry.