Value Added Tax And The Implementation Of China Essay

Capstone paper Qiming Wang 9/11/2016 Value Added Tax and The Implementation in China Brief history of value added tax VAT was introduced in 1954 in France, being the invention on an engineer – Maurice Laure – who worked as a fiscal inspector, banking employee and as an employee of a big retailer. If at the beginning VAT was created and destined for big companies, from 1996, at the proposal of the Finance Minister, it begins to be applied also in the retail sector. At the end of his career, the tax author remembered: â€Å"In 1952-1953 I had the occasion to conceive a reform regarding the turnover taxation, that I named VAT. Proposed in the Parliament by the Finance Minister, it was rejected. Despite the fact that I wasn’t the adept of the production taxation, because it stifled finally the investments, I defended until the end my idea, and, when Edgar Faure became Finance Minister, he proposed my tax be introduced in the Finance Law for 1954. After many political negotiations, VAT passed through the Parliament and was voted, but not without adventures !† After the First World War, France had passed at the direct taxation on the expenses. In 1917 a proportional tax on the payers was introduced, and in 1920, this one was replaced with the tax on the total sales (turnover tax). If between 1925-1936, unique taxes on type of products were applied (they reached 30 taxes), starting with 1937 the unique tax on the production and the unique tax on the services were introduced. FromShow MoreRelatedValue Added Tax And Implementing China Essay2371 Words   |  10 Pagespaper Qiming Wang 9/11/2016 Value Added Tax and Implementation in China Introduction As a type of consumption tax, as of January 1 2014, 164 countries employ a Value-added Tax in the world. All Organization for Economic Co-operation and Development (OECD) members except the United States now applied VAT. According to the research by OECD committee, consumption tax was a large source of tax revenues, and â€Å"the VAT accounted on average for 6.6% of GDP and 19.5% in total tax revenues in OECD countriesRead MoreChina Has Increased Its Installed Wind Energy Capacity878 Words   |  4 Pages After passing of this law, China took a concerted effort towards increasing its renewable energy profile. China has increased its installed wind energy capacity from 1.260 GW to 62.36 GW from 2005 to 2011. This can be compared with the United States that saw an increased wind energy capacity from 8.7 GW to 45.98 GW in the same time period. This is a 10.2\% increase annually versus 6.2\% in the United States. As shown in figure ef{AC_Sys_Voltages}, China installed 45.6\% of the total wind energyRead MoreMongoli Developing Asian Country Dependent On External Trade Essay953 Words   |  4 Pages(â€Å"Trade Policy Review,† 2014), accounting for 28 percent of its GDP. In 2013, the largest export commodity was â€Å"coal; briquettes, ovoid and similar solid fuels manufactured from coal† (â€Å"Mongolia,† 2013); 94.6 percent of these total exports went to China, the United Kingdom and Canada. Other goods, such as gold, textiles and cashmere are the main exports of Mo ngolia to the European Union. Agriculture made up 27.9 percent of the GDP in 2013â€Å"The main export products of Mongolia to Russia are mainlyRead MoreValue Proposition775 Words   |  4 PagesValue Proposition Your value proposition can equip you with the following benefits to your business: * Create a strong differential between you and your competitors * Increase not only the quantity but the quality of prospective leads * Gain market share in your targeted segments * Assist you in enhancing tools that will help you close more business * Improve your operation efficiency iPod vs. Other MP3 Players - As early as 1996 MP3 players were available to the public forRead MoreEssay Business Analysis: Bargain Basement Books1555 Words   |  7 Pagesfollows through with the implementation of those objectives. In delegating authority to other government bodies, the Council focuses on matters of highest importance. Taxation: Finland’s taxes are high in comparison to other European countries. This is due in part to the revenue being used to help finance care for children, the elderly, health care, education, and security. (Taxation). For taxable income of a minimum of 64,500 euros, or approximately $87,965, the tax rate is 30.5% (Taxation inRead MoreBureaucratic And Government Organizations : Policies And Bottlenecks1586 Words   |  7 Pagesaccess to electricity and most of them are from developing countries Development and implementation of clean technology faces widely bureaucratic and institutional barrier. Institutional barriers include weak infrastructure to support any development and adoption of new technology and to implement performance standards as well as environmental standards. Economic barriers include high capital and implementation costs; less availability of world class technical expertise, difficulty in transformingRead MoreForeign Investment In China Case Study1419 Words   |  6 Pagesresearch that is conducted . 4.1 Key findings As Chinas aged care sector in China is shifting quickly and presenting substantial potential, the elderly population will have an increasing influence on the future of the country. Economically, the aging population will cause a burst in demand for elderly goods and services. Socially, the elderly’s attitudes towards nursing homes will challenge traditional Chinese family values such as the Confucianism influenced filial piety and set a standard for comingRead MoreZhujiag Iron and Steel Copmany1354 Words   |  6 Pagescompany’s bargaining power with supplier and created co-ordination problems. On March 2003, Zhang was appointed as the new president of ZISCo, to develop and implement new strategy to improve ZISCo’s long term competitive advantage. To implement value creation strategy, Zhang’s first task was to increase production volume and improve product quality through cross functional co-ordination at ZISCo. He also reduced material procurement costs and stabilizes supply sources through consolidation of itsRead MoreWhy Should China Ease Foreign Investors1526 Words   |  7 PagesAlthough the raise of China as a super economy was done by creating a market economy with socialist characteristics aimed at making profit and its maximization, the country has maintained state ownership of the means of production and remained a closed economy. In order to accept foreign investors to operate in China, the government imposes that they must hold majority ownership. Easing inbound investment into China’s economy would bring a multitude of benefits to China in cluding the internationalRead MoreAmerica s Diminishing Faith On Free Trade Essay1712 Words   |  7 Pageslike TPP† yet he tells Fox News that he is all for free trade â€Å"but it’s got to be fair† and wishes to go back to the days when America used to produce their own items. Along with the TTP, the presidential candidates propose to make adjustments with China, NAFTA, and to renegotiate tougher and fairer trade agreements. I believe the Heckscher Ohlin Model works along with Hillary Clinton’s and Donald Trump’s trade policies because wealthy nations like the United States trade with low wage nations at