0
According to Dimaampao (2005), "taxation is a mode of raising revenue for public purposes. It is not given voluntarily, but is implementing by laws. The people are obliged to pay taxes in proportion to their income or some other source. A good example of tax is the Expanded Value-Added Tax (EVAT), which was fully implemented last November 1, 2005. Expanded Value-Added Tax (EVAT) from the definition itself is a value added tax that increases in its scope. It simply means the increase of tax, which is being paid by the people. This is where the government gets the fund for its program for the country. This law extends the tax base to include the fuel, electricity and transport industries. However, the old value added tax (VAT) law covered most food industries. Compared EVAT with the old one, EVAT increased the tax at rate of 12% unlike the VAT, which is 10% only.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
What is Reformed Value Added Tax in the Philippines?
The Reformed Value Added Tax in the Philippines is a consumption tax. The tax is paid on the purchase price. The abbreviation is RVAT.
What is Evat in the Philippines?
expanded value added tax ni senator recto
What type of tax is one that takes a smaller percentage of income people than from low income people?
Regressive tax. E.g. value added tax
What is a good example of a proportional tax?
One example is the Corporate income tax which is a fixed rate at 35%.
Why is value added tax divided into exempt-zero rated and standard rated?
it is a hard to explain quistion and i don't know it
Extended value added tax?
The extended value added tax is a new law that was passed in the Philippines in 2005. This law adds taxes to petroleum, electricity, and other services.
What is the prospect of value added tax in Nigeria?
What is the prospect of value added tax in Nigeria?"
What has the author James M Bickley written?
James M. Bickley has written: 'Flat tax proposals' -- subject(s): Flat-rate income tax 'Value-added tax as a new revenue source' -- subject(s): Value-added tax 'A value-added tax contrasted with a national sales tax' -- subject(s): Use tax, Value-added tax
What is Reformed Value Added Tax in the Philippines?
The Reformed Value Added Tax in the Philippines is a consumption tax. The tax is paid on the purchase price. The abbreviation is RVAT.
Are you in favor of value added tax?
no! no!
Full form the VAT?
Value Added Taxvalue added tariffVAT is the abbreviation for "Value added Tax"-------------------------------------- ------ ----------------------------------------------
What does the V in VAT stand for?
Value as in Value Added Tax
What does the acronym VAT stand for?
Its a tax that you pay with everything you buy, Value Added Tax, generally it is a percentage based on value of import. I have never heard the term apply for a hotel unless it's another kind of tax. Value Added Tax (VAT) is a consumption tax
What is an advantage of a value added tax?
15%
Who recommended value added tax?
zhaa
What is the abbreavation of VAT?
Value added tax
What is the standard vat?
It is Value Added Tax.
