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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Just how much can governments raise from a turnover tax? Based on the Bank for International Settlements' Triennial Survey data in 2007, the global annual value of foreign exchange turnover was roughly US$800 trillion.
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 simplifies Russia's obsolete social service payments system and abolishes a 5% business turnover tax. The changes are the most important since Russia's fiscal code was created in the early 1990s.
The survey is also intended to register shopkeepers for a "turnover tax" starting July 1 on all shops with annual turnover exceeding 1 million rupees (about $19,350) up to 5 million rupees.
turnover tax will be levied on "profits and income" and will
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.
1 million and Rs.5 million to pay turnover tax @2 per cent only along with 1 per cent final Income Tax.
Buffett's turnover tax has gotten a wider and more enthusiastic audience than it might have were it you or me or even David Stockman proposing it.
It also presented an 11-point charter of demand seeking reduction in turnover tax to 0.3 per cent from 0.6pc on cash withdrawal from the banks.
He said the traders had asked the government to stop making traders withholding agent, remove value addition tax, reduce turnover tax ration and announce different slabs in this regard but our all demands were ignored.