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Post by Vinny on Aug 28, 2024 8:01:05 GMT
What case is there for it? It's regressive.
Scrap it. Make up the shortfall with fairer taxes on corporate profits.
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Post by Dogburger on Aug 28, 2024 8:23:44 GMT
Yep it was a series of EU directives that regulated VAT in the UK . We have left the EU so it follows we should have cancelled VAT on 24th June 2016 .If the UK government wants to keep it it should at least be honest about what its for as we no longer have to harmonise taxes with the EU . It should at the very least been reduced as we no longer pay the EU levy part of it .
Having said that there is probably something in the Withdrawal farce that says we still have to pay it
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Post by Pacifico on Aug 28, 2024 10:59:04 GMT
Consumption taxes are always better than employment taxes. Corporate taxation destroys economic activity which is the last thing we need.
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Post by steppenwolf on Aug 29, 2024 7:27:38 GMT
It was an EU mandate that we had to adopt VAT. Before that we had "purchase tax" (like the sales tax they have in the USA). The EU likes VAT because it gives a complete audit trail of what happens to any item - so that they can tax it at every point of its manufacture. And the EU takes a cut of the VAT at every stage.
It's highly bureaucratic and complicated. We should scrap it, but we never will. Starmer is intent on BRINO now - he intends to make the UK a colony of the EU with no vote and no rights. He's an idiot.
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Post by ProVeritas on Aug 29, 2024 20:17:36 GMT
What case is there for it? It's regressive. Scrap it. Make up the shortfall with fairer taxes on corporate profits. Don't be silly. Can't go taxing corporations. Have to tax the abysmally paid workers of those corporations. All The Best |
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Post by ProVeritas on Aug 29, 2024 20:18:42 GMT
Consumption taxes are always better than employment taxes. Corporate taxation destroys economic activity which is the last thing we need. No corporation should be paying a lesser % of tax than any individual. That way both Corporation and Individuals are sharing the tax burden. All The Best |
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Post by Pacifico on Aug 29, 2024 21:44:59 GMT
Consumption taxes are always better than employment taxes. Corporate taxation destroys economic activity which is the last thing we need. No corporation should be paying a lesser % of tax than any individual. That way both Corporation and Individuals are sharing the tax burden. All The Best Corporations do not pay tax - only individuals pay tax. |
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Post by Vinny on Aug 29, 2024 22:56:23 GMT
Consumption taxes are always better than employment taxes. Corporate taxation destroys economic activity which is the last thing we need. Why? |
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Post by Red Rackham on Aug 29, 2024 23:18:11 GMT
VAT should indeed be scrapped, but it's too late it's embedded into the system, and it's no use blaming the EU for this one, well not entirely. Just did a bit of reading up and as Wolfy said, before VAT we had purchase tax, and purchase tax was introduced in 1940 to help with the war effort, eminently sensible. As it happens we were broke after the war so purchase tax became a permanent feature. Later thanks to the EU, purchase tax was replaced with VAT because even though we won the war, we were slowly being governed from Belgium. It's a funny old game.
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Post by ProVeritas on Aug 30, 2024 0:08:12 GMT
No corporation should be paying a lesser % of tax than any individual. That way both Corporation and Individuals are sharing the tax burden. All The Best Corporations do not pay tax - only individuals pay tax. Don't be daft. Hang on, which is it? Corporate taxation destroys economic activity which is the last thing we need. Do they or don't they? You don't seem to know; which is hardly surprising given the drivel you have posted so far in this thread. All The Best |
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