What is VAT?

2019 ◽  
pp. 14-26
Author(s):  
Sijbren Cnossen
Keyword(s):  
Best Practice ◽  
Tax Credit ◽  
Self Assessment ◽  
Goods And Services ◽  
Uniform Rate ◽  
Tax Effects ◽  
Production And Distribution ◽  
Economic Nature

Chapter 2 dwells briefly on the workings and the legal and economic nature of the VAT, and enumerates the characteristics of a best-practice VAT against which existing regimes are evaluated. A best-practice VAT includes all goods and services in its base, unless specifically exempted on administrative grounds, and covers all stages of production and distribution, including the retail stage. It is levied at a single, uniform rate and eliminates cascading or cumulative tax effects by granting taxable firms a full and immediate tax credit or deduction for the tax paid in respect of purchases from other taxable firms. Furthermore, the VAT is destination-based by zero-rating exports and taxing imports. A best-practice VAT limits administrative and taxpayer discretion to a minimum and is based on self-assessment. The tax administration’s task should be confined mainly to providing taxpayer education, monitoring late filers and late payers, and, particularly, auditing taxable persons’ accounts.

scholarly journals An Insight Into the Value Added Tax System Detailing Its Origins, Impact, Provisions and Regulations With Reference to India

2004 ◽  
Vol 3 (1) ◽  
pp. 19-29
Author(s):  
Tomy Kallarackal
Keyword(s):  
European Economic Community ◽  
Value Added ◽  
Tax Credit ◽  
Value Added Tax ◽  
Excise Duty ◽  
Goods And Services ◽  
The World ◽  
The Difference ◽  
The Government ◽  
Insight Into

The Value Added Tax was first introduced in France in 1954. It was the resultant effort of France and members of the European Economic Community (E.E.C) during the 1950s aimed at the simplification of commodity taxes. Currently more than 130 nations in the world have adopted the VAT system. In the last decade alone over 50 nations have introduced VAT. This includes implementation in China and most recently the addition of Australia to the list of VAT nations. The world over, VAT is payable on both goods and services as they constitute a part of the national GDR Excise duty and sales taxes are merged into the singularity of VAT. No tax is levied on exports with full input tax credit made available. The scheme of taxation adopted by most nations is very simple. The seller of goods and the service provider charge tax on sales, avail input tax credit and pay the difference as VAT to the goVernment treasury. The compliance system in VAT nations is also very simple. There is very less interface between the tax collector and the tax payer. However there are provisions for heavy penalization of VAT defaulters. VAT is administered nationally and is also levied on imports.  

scholarly journals INTEGRATION AND DIVERSIFICATION AS INSTRUMENTS OF MODERNIZATION OF INDUSTRIAL COMPANIES

2014 ◽  
pp. 40-44
Author(s):  
N. V. Yakubanis
Keyword(s):  
Small Business ◽  
External Environment ◽  
Value Added ◽  
Goods And Services ◽  
Industrial Companies ◽  
Technological Chain ◽  
Effective Form ◽  
Production And Distribution ◽  
Material Goods ◽  
Flow Of Information

The strategy of transition of the industry to the innovation way of development should include the restructuring of the Russian industrial companies on the basis of creation of the integrated and diversified economic structures on the technological chain of value added. Analysis of changes in the external environment of enterprises in modern conditions confirms the findings of the institutional theory that the development of global technological circuits and networks is the most effective form of management. To the number of the organizational-economic prerequisites for the formation of integrated technological circuits include the globalization of the economy, information production and distribution of material goods and services, the individualization of marketing, related to the saturation of the markets and the change of their structure, the development of logistics management methods and the flow of information and subcontracting (subcontracting) relations of big and small business.

Cybersecurity capabilities for critical infrastructure resilience

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Masike Malatji ◽  
Annlizé L. Marnewick ◽  
Suné Von Solms
Keyword(s):  
Cloud Computing ◽  
Best Practice ◽  
Critical Infrastructure ◽  
Integrated Approach ◽  
Cyber Attacks ◽  
Industrial Control Systems ◽  
Content Type ◽  
Goods And Services ◽  
Standards And Guidelines ◽  
Attack Surfaces

Purpose For many innovative organisations, Industry 4.0 paves the way for significant operational efficiencies, quality of goods and services and cost reductions. One of the ways to realise these benefits is to embark on digital transformation initiatives that may be summed up as the intelligent interconnectivity of people, processes, data and cyber-connected things. Sadly, this interconnectivity between the enterprise information technology (IT) and industrial control systems (ICS) environment introduces new attack surfaces for critical infrastructure (CI) operators. As a result of the ICS cybersecurity risk introduced by the interconnectivity between the enterprise IT and ICS networks, the purpose of this study is to identify the cybersecurity capabilities that CI operators must have to attain good cybersecurity resilience. Design/methodology/approach A scoping literature review of best practice international CI protection frameworks, standards and guidelines were conducted. Similar cybersecurity practices from these frameworks, standards and guidelines were grouped together under a corresponding National Institute of Standards and Technology (NIST) cybersecurity framework (CF) practice. Practices that could not be categorised under any of the existing NIST CF practices were considered new insights, and therefore, additions. Findings A CI cybersecurity capability framework comprising 29 capability domains (cybersecurity focus areas) was developed as an adaptation of the NIST CF with an added dimension. This added dimension emphasises cloud computing and internet of things (IoT) security. Each of the 29 cybersecurity capability domains is executed through various capabilities (cybersecurity processes and procedures). The study found that each cybersecurity capability can further be operationalised by a set of cybersecurity controls derived from various frameworks, standards and guidelines, such as COBIT®, CIS®, ISA/IEC 62443, ISO/IEC 27002 and NIST Special Publication 800-53. Practical implications CI sectors are immediately able to adopt the CI cybersecurity capability framework to evaluate their levels of resilience against cyber-attacks, given new attack surfaces introduced by the interconnectivity of cyber-connected things between the enterprise and ICS levels. Originality/value The authors present an added dimension to the NIST framework for CI cyber protection. In addition to emphasising cryptography, IoT and cloud computing security aspects, this added dimension highlights the need for an integrated approach to CI cybersecurity resilience instead of a piecemeal approach.

So Goes the Nation

2018 ◽  
pp. 285-293
Author(s):  
Bethany Moreton
Keyword(s):  
Decision Making ◽  
Collective Decision ◽  
Collective Decision Making ◽  
Distribution Of Wealth ◽  
Goods And Services ◽  
Black Freedom ◽  
Unfree Labor ◽  
Current Concern ◽  
The Future ◽  
Production And Distribution

This brief and synthetic epilogue argues that the South’s history lays bare the ways that antidemocratic governance has been used in this country to protect unfree labor arrangements and to blunt collective decision-making about the conditions of wealth production and distribution of wealth. That history helps sharpen our analysis of the current concern over the future of work. More than half a century ago, labor and black freedom advocates teamed up with analysts of the cybernetics revolution to ask “Are there other proper claims on goods and services besides a job?” The epilogue argues that the question is as pertinent now as when it was formulated, and that the South is where it will have to be answered.

Stratification and Social Mobility, Slavery in Islam

2016 ◽  
pp. 250-271
Keyword(s):  
Social Mobility ◽  
Belief System ◽  
Caste System ◽  
Goods And Services ◽  
Status Inconsistency ◽  
General Proposition ◽  
Production And Distribution ◽  
Latent Function

In this chapter we propose a Weberian three dimensionality of stratification to explore the amount of upward and downward movement that goes on within and between Islamic societies and the industrial world. Our argument regarding social mobility provides intriguing clues as to the connection between legal systems (specifically civic laws based on religious jurisprudence), and stratification systems. We will discuss the issue of slavery and status inconsistency and contrast it with the caste system, which forbids upward, downward, inter-caste and intergenerational social mobility. We argue that the slavery system of stratification is more complex than the caste system, as there is an element of uprising and resistance built into the slave system by means of religious economic values. We will pay close attention to the role of Islam as a belief system which provides pathways for social mobility through the production and distribution of goods and services. In a previous chapter on sociality and inequality, a general proposition was made that, as human groups are formed, ranking and hierarchies come into existence in correspondence with rewards and the manner in which they should be distributed. From this viewpoint, inequality is a manifest function of a sociality whose latent function is to create poverty. This is an ethical issue for which Islam devised a variety of mechanisms to address. . For Marx, with his locus of attention on the specific, inequality is a manifest function of capitalism whose latent functions, among others, are monopolization and the enlargement of stratification.

Teacher Self-Assessment of Feedback Practices in an EFL Academic Writing Class - A Reflective Case Study

2017 ◽  
pp. 162-187 ◽  
Author(s):  
Eddy White
Keyword(s):  
Academic Writing ◽  
Best Practice ◽  
Teacher Feedback ◽  
Student Writing ◽  
Self Assessment ◽  
English Writing ◽  
Teacher Commentary ◽  
Feedback Interventions ◽  
Giving Feedback

Unlike studies of teacher feedback on student writing, research into teacher self-assessment of their own feedback practices is quite rare in the assessment literature. In this reflective case study, the researcher/teacher systematically analyzed feedback practices to clearly determine the form and kind of formative feedback being provided on student essays, and also to compare these feedback practices to recommended practice from the feedback literature. The research took place in an academic English writing course for third-year students at a Japanese university. A close examination of the teacher feedback on the first draft of 21 student essays was undertaken, and more than 800 feedback interventions were identified and coded. Results of this investigation show a number of patterns of practice in giving feedback, including; extensive use of questions in teacher commentary, very limited use of praise comments, and varying amounts of feedback provided on individual essays. Results also show that the feedback practices discovered through this investigation align well with recommended best practice. The case study positions the teacher as ‘learner' in this feedback process, and calls for similar published research describing in detail what teachers do when providing feedback to students on their work.

Oxford Desk Reference: Critical Care

2019 ◽  
Keyword(s):  
Critical Care ◽  
Intensive Care ◽  
Best Practice ◽  
Tissue Perfusion ◽  
Access To Information ◽  
Cardiovascular Monitoring ◽  
Self Assessment ◽  
And Training ◽  
Desk Reference ◽  
Assessment Questions

Oxford Desk Reference: Critical Care second edition is a clinical guide reflecting best practice and training pathways. Each topic is laid out in a concise entry, allowing rapid access to information. The second edition includes new sections on tissue perfusion monitoring and paediatric and maternal critical care, as well as expanded coverage of cardiovascular monitoring, myocardial infarction, and respiratory therapy techniques. New self-assessment questions support FFICM (Fellow of the Faculty of Intensive Care Medicine) and EDIC (European Diploma of Intensive Care) revision as well as continuing medical education reflection. Covering the entire discipline in an easy-to-read format, this is the definitive clinical reference for critical care, ideal for trainees, consultants, advanced care practitioners, and nurses.

scholarly journals The Tragedy of the Judiciary: An Inquiry into the Economic Nature of Law and Courts

2020 ◽  
Vol 21 (4) ◽  
pp. 644-673
Author(s):  
Ivo Teixeira Gico
Keyword(s):  
Policy Implications ◽  
Access To Justice ◽  
Legal Certainty ◽  
Dual Nature ◽  
Private Goods ◽  
Goods And Services ◽  
Law And Courts ◽  
Unrestricted Access ◽  
Economic Nature ◽  
Adverse Selection Problem

AbstractThis Article explores the economic nature of law and courts as an explanation for the world’s endemic court congestion problem. The economic theory of goods and services is used to demonstrate that law has a dual nature—coercion and compliance—and that law as coercion is actually a club good that requires a complementary good to be useful, courts. But because courts are private goods in nature, the bundled product will behave as a private good. However, the unrestricted implementation of access-to-justice policies with the objective of increasing the people’s access to courts will transform the bundled product into a common pool resource. The counterintuitive result of this transformation is that granting unrestricted access to justice might actually prevent people from accessing their rights—the tragedy of the judiciary. Two policy implications are explored: The importance of legal certainty for the tragedy mitigation, and the potentially adverse selection problem resulting from court congestion.

Explicit and Implicit Tax Effects of the R & D Tax Credit

1993 ◽  
Vol 31 (2) ◽  
pp. 131 ◽  
Author(s):  
Philip G. Berger
Keyword(s):  
Tax Credit ◽  
Tax Effects

Workers' and Community Participation and Democratic Control in Cuba

1980 ◽  
Vol 10 (2) ◽  
pp. 197-216 ◽  
Author(s):  
Vicente Navarro
Keyword(s):  
Trade Unions ◽  
Cuban Revolution ◽  
Popular Participation ◽  
Goods And Services ◽  
Rural And Urban ◽  
State Apparatus ◽  
Production And Distribution ◽  
Democratic Control ◽  
And Control ◽  
Different Levels

This article is a historical and current analysis and description of the evolution of worker, community, and popular participation and democratic control in Cuba since 1958. It contains: (a) an analysis of the political developments in the Cuban Revolution that led to the establishment of direct forms of democracy at the workplace and in the community; (b) a detailed analysis and account of how workers participate and control the processes of production and distribution of goods and services; and (c) an in-depth account and analysis of how people living in neighborhoods, rural and urban districts, municipalities, and provinces control the different levels and branches of the state apparatus—People's Power—and also how they participate in the implementation—through mass organizations—of state policies. The responsibilities, modus operandi, and relationships of the Communist Party, the trade unions, and other mass organizations, and the organs of People's Power, are also described and analyzed. The opportunities and problems, successes and failures, and strengths and weaknesses of the Cuban road to socialism and democracy are detailed. It is concluded that the Cuban Revolution has enhanced democracy most dramatically through the Cuban people's substantial involvement, participation, and control of their own lives.

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