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how different could it ever look to VAT?
- the tax is charged to the company, rather than the company being a conduit for charging the consumer
- the company can't offset their newsalestax™ against the VAT they pay other people... like their lawyers and accounts structuring their tax avoidance schemes.
- the tax is charged to the company, rather than the company being a conduit for charging the consumer
hugo7-
the tax is charged to the company
Company already pays this to HMRC (it's legally the company's liability - not the consumer's). What actual change are you proposing?
the company can't offset their newsalestax™ against the VAT they pay other people... like their lawyers and accounts structuring their tax avoidance schemes.
Do you mean you just don't want them to be able to offset costs for lawyers etc because you don't like them? Or are you saying you don't want any costs to be capable of offset at all? In which case why not, and is that at every stage?
andyfallsoff
I think "who actually bears the cost" is one of those everlasting questions... yes it is passed on but that same aspect (it arises on the sale no matter what) is what makes it effective - they can't shift profits overseas etc to reduce the revenue take.
Put it another way - if you wanted to get a stable level of tax from a multinational in the place where it makes sales, how different could it ever look to VAT?