Category Archives: VAT

A glimpse into the different personas of Taxes in China

(Translated from an article on a Chinese financial blog.  www.1234567.com.cn) Aunt Sales Tax Female, 40, a lovely and easy-going middle-aged woman. She tries to be a simple person out of fear that she might pose a risk of harm to those who are getting to know her. However, she has extremely profound tax implications. Aunt Sales Tax is considered as a sociable person with good connections, but she is not fond of Prince VAT (Value Added Tax). They seem to … Continue reading

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Sprucing up GST

 The warning from the Treasury is loud and clear: GS T needs a hard scrub. It is inefficient and tax leakage is mounting . Something needs to done and soon. Unfortunately, GST is not on the tax reform agenda but is very much in the news. A study by KPMG Econtech for CPA Australia found that a lift of the rate from 10 to 15 percent would increase the consumer living standards by $ 4.7 billion a year. A smaller … Continue reading

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Tax & Shopping – How to get the most out of your penny!

Shopping can be a bad habit if it is excessive, all consuming, and unplanned. However, well thought out shopping can result in “smart shopping”, making shopping some what less criminal.This is where tax comes in – knowing the consumption tax rates in different jurisdictions and taking advantage of opportunities to claim back the tax that you pay on purchases can save you money! The Australians call it goods & services tax (GST), the Europeans call it value added tax (VAT), … Continue reading

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