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 ?
Premium Class Travel Each Way Based on Round-trip Purchase Taxes and Fees Included Miami - Barcelona $1,716 (starting April 3, 2012) Miami - Montego Bay $362 Miami - Panama City $428 Miami - San Juan $348 Miami - Tokyo $2,539
Grand Bahama is a good choice as it has no local taxes, purchase taxes or selling taxes--a program introduced by the Grand Bahama Port Authority and joint venture partner Hutchison Whampoa to encourage economic growth on the island, says Ross Robinson at Cushman & Wakefield (June 2, 2008).
You need to allow around 12 per cent on top of the asking price to cover legal fees and purchase taxes.
These include car purchase taxes, car ownership and road taxes.
This means, you'll pay for the purchase taxes when you buy the vehicle, but you'll be entitled to a tax return deduction, lowering your taxable income for 2009.