New developments in the European Union: taxation of financial services under a credit invoice method VAT
Article Abstract:
Financial services should not be exempt from the European Union (EU) value-added tax (VAT) because economic neutrality is harmed and because tax cascading results from the recoupment effect. Financial services have been exempt because of national taxes on such services and the difficulty of applying the credit invoice method to implicit fees levied by financial service providers. One solution would be to apply the EU VAT by use of the subtraction method or the cash flow method. Alternatively, the credit invoice method could be modified to better value financial services.
Publication Name: The International Tax Journal
Subject: Business, international
ISSN: 0097-7314
Year: 1995
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Gambling taxation: a proposal for the goods and services test in the tax code
Article Abstract:
The goods and services test should be applied to gambling, in order to clearly define that gamblers are not involved in a trade. Congress appears unable to create a clear definition of "trade" that excludes gambling, and the US Supreme Court did not address the good and services issue directly in the 1987 Groetzinger ruling. Gamblers should not receive tax benefits nor be considered traders in the traditional sense, given the dire social consequences associated with pathological gambling.
Publication Name: The International Tax Journal
Subject: Business, international
ISSN: 0097-7314
Year: 1997
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The interplay of language between taxation and accounting for repairs in Australia: Should a stitch in time save nine?
Article Abstract:
The authors discuss conflicts between Australian taxpayers and the government taxation office over the deductibility of repair expenditures and the classification of expenditure into a revenue account versus a capital account. The inconsistences between Australian tax law and accounting standards in this respect are covered.
Publication Name: The International Tax Journal
Subject: Business, international
ISSN: 0097-7314
Year: 2001
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