Explore BrainMass
Share

US income tax versus UK vat tax

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

Compare the current Federal income tax structure of the U.S. with that of the VAT national tax implemented by the United Kingdom. How would the U.S tax structure change if it implemented the VAT system? In your opinion, do you think the VAT system is preferable to the current one? Explain your answers with examples.

© BrainMass Inc. brainmass.com October 17, 2018, 2:37 am ad1c9bdddf
https://brainmass.com/political-science/political-theory/us-income-tax-versus-uk-vat-tax-388468

Solution Preview

The UK VAT differs from the US income tax as it operates more as our version of a sales tax such as implemented by many states. Companies and consumers pay the tax for the products they buy, apart from staples such as groceries, education, children's clothing, etc. Often the tax is incorperated into the actual listed price of the good, so a tv listed at 500 pounds is actually 500 pounds rather than you attempting to figure ...

Solution Summary

This solution compares the VAT tax in the United Kingdom with the United State's income tax system, offering advice on how the United States system would likely change if it switched to a VAT system like the UK. It offers links to understanding the VAT structure and to a thesis which compares the two and theorizes about the change.

$2.19
Similar Posting

Managing Multinational Operations

Deliverable Length: 3-5 pages
Details: Long-term investment projects require a thorough understanding of all attributes of doing business in that country, including import/export restrictions, labor relations, supplier financing, tax rules, depreciation schedules, currency properties and restrictions, and sources of short-term and long-term debt, to name a few. China is currently the focus of investment and market penetration strategies of multinational firms worldwide including Acme. Your supervisor has asked you to gather information on some of these factors that your company or any MNE would want to consider when doing business in China. (This is the primary focus of this assignment.)

As you begin your research, you realize your company would make a significant profit from doing business in China. You also discover that policies on employee welfare, labor relations, etc. are the antithesis of what your CEO firmly believes. Do you include this information in your report, or just provide the strategic information you were asked to gather? (Please respond to this ethics question in a paragraph or two).

Use the Library and other Internet sources (you might start with the web sites listed here), to collect the information.

Extract from Guide to Doing Business in China http://info.hktdc.com/chinaguide/
China Business Etiquette http://www.cyborlink.com/besite/china.htm

View Full Posting Details