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.
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References in periodicals archive ?
CAAM forecast sales and production would grow at a steadier pace this year, by 10-15 per cent, after purchase taxes for small cars rose to 10 per cent and Beijing slashed the number of new registrations allowed in the capital.
For MbadMuzz the price came much higher as the auctioneer -and self-declared fan of slot machine games - paid a total of over $163,000 after final fees and purchase taxes.
ATTOCK, July 05, 2009 (Frontier Star) -- The office-bearers of Property Dealer Association have alleged that the excise and Taxation Department Attock with collusion of contractors and some of Property dealers increased the Stamp duty and other sale and purchase taxes. They while terming the new tax rates issued by Revenue Department Attock as unjust decision demand to Punjab government to tack back the decision.
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. Most estate agents will recommend a lawyer but it may be advisable to arrange a mortgage in Britain.
These include car purchase taxes, car ownership and road taxes.