How to use VAT in a sentence

Looking for sentences and phrases with the word VAT? Here are some examples.

Sentence Examples The airline industry is unique in the transport sector in that it pays no VAT and its fuel remains untaxed. Government taxes on fuel, excluding VAT, accounted for over 1.8bn collected in 2004 with just over half this figure derived from taxes on petrol. There is also a separate dispute over how VAT should be calculated in scrappage transactions. The team will visit businesses to offer advice on VAT registration and explain the advantages of simplified ways of paying. Please note that most of the VAT amendments have come into operation on 1 October. It is also bound to highlight the differences in prices caused by the different rates of VAT and excise duty on different goods. The company owes six million leva in VAT and a further six million leva in other tax arrears. Why is there no VAT on designer-label shoes worn by the children of the rich? Mr Downey said the flat rate VAT refund compensates for the VAT paid on inputs. And scrappage has been at least revenue-neutral for the Government, which cashed in on the flow of VAT paid on new cars. The import duties and VAT are then paid to the Customs Division of the Ministry of Finance. They want to know my outgoings, my fixed costs, my capital outlay, my VAT number, my date of incorporation. No government has considered the issue of charities' irrecoverable VAT more seriously than this one. In question is whether an issue of shares constitutes a supply for VAT purposes. The various state governments' reluctance to switch over to VAT was stemmed by the fear of loss of revenues. Coupled to a national lottery, the VAT tax could put the government back in the black. He advised against hikes in customs and excise duties and adding to the VAT rate, already amongst the highest in Europe. Mortgage interest will be allowable against rental income and VAT is recoverable. In addition, the VAT will not be recoverable, and should be included in the amounts referred to above. Greater transparency is being sought to convince farmers that they are being properly refunded for the VAT paid on inputs. Show More Sentences Public transport receives concessional VAT rates in all members. Mr Flemming noted that small-scale farmers were not eligible for VAT registration, as they did not earn sufficient amounts to reach the VAT threshold. Outstanding issues include pensions, labour market reform, VAT rates and Greece's budget targets. The fraudulent carousel moves on when the new owner of the goods exports them again and claims the refund of the VAT he paid. Major international VAT fraud, particularly carousel fraud, is often carried out by individuals who are also involved in other types of fraud. The Lib Dem tax rises would not include increase in income tax, VAT or national insurance. These transactions must be taken into account for the determination of the VAT resources base. Harmonization, the creation of a VAT, is in the best interests of growth of the economy in Canada. This is exclusive of VAT, delivery, plates and road fund licence. Alignment is necessary in particular concerning VAT, the scope of exemptions and applied rates. You must pay VAT on delivery according to the rules of the country of delivery. Flights will run on Tuesday, Thursday and Friday and ticket prices start from 66 euros including VAT, one-way. The invoice shall however be established excluding French VAT when products are to be delivered outside the European Union. Additional alignment and capacity building will be necessary for the proper calculation of the VAT and GNI resources. The distortion of competition resulting from the differences in VAT treatment is the most important. In Europe, you pay for it through a heavy consumption tax called the VAT, or value-added tax. The reasons why postal systems are, nevertheless, fighting for the introduction of a VAT rate are basely material. A tax lock to guarantee there will be no increase in the rates of VAT, income tax or national insurance. Is the answer different where the contract is incurably void for fraudulent evasion of VAT itself? It has no VAT repayment claim as the goods were zero-rated on import. Show More Sentences A more harmful example is VAT discrimination: while no VAT is levied on air travel, it is payable for trips by bus or coach. In this way, the same goods travel around, with the VAT being pocketed every time they change hands. She said the measure was aimed at making local wheat production more competitive by allowing millers to claim back any VAT incurred on their deductible purchases. Bartlett goes on to note, and I must concur, that the odds of a VAT in the near future are quite slim. Under the provisions of this scheme, the travel agent pays VAT, at the rate ruling in Member State B, to the hotelier as before. The advanced course is aimed at providing farmers with the expertise in using packages such as breeding charts, farm accounts and VAT recording and returns. Tourists wishing to claim their tax refunds must obtain tax forms from the authorized VAT store where the merchandise was purchased at the time of purchase. It would therefore be the retailer, supplying to nontaxable clients, who would actually pay the full amount of VAT to the Treasury. Targeted reduction in VAT rates for labour intensive services, so as to boost demand for such services and reduce moonlighting. There had been some improvement in customs and tax control, in the fight against the sale of goods with fake or without excise revenue stamps, and against VAT fraud. We are against VAT in all its forms, because it is an indirect tax that hits the working classes the hardest. It's now mandatory that every salary must be paid into electronic accounts and VAT reductions are being offered for the using of e-money. Substantial efforts must therefore be made to bring home to auditors the importance of mutual assistance in VAT control. Excises are usually set in absolute amounts per unit of fuel whereas VAT is an ad valorem tax. In order to increase revenues, the plan seeks to increase VAT and taxes on other consumable commodities. These written or telephone bids are maximum bides, not including the surcharge, VAT or customs duty. It is currently pressing for a harmonization of excise duties an VAT on beer. That does not mean that the aim of introducing VAT levied in the country of origin as propounded by the Commission was a mistake. Who will be prosecuted if the next chancellor increases VAT to damp down a spending boom? The Internet will boost such business. Europe's problem is how to charge VAT on electronic commerce. Show More Sentences He said the creation of a full-time post for a person to consult and review any transactions with potential VAT implications was being proposed for the municipal organogram. The customs collects VAT, which is the main revenue donor to the budget. He said if prices on soft drinks and minerals were high, a lot of it was to do with Government VAT which was the same for both soft drinks and alcoholic beverages. And last year Customs and Excise ruled that fresh magic mushrooms should be subject to VAT at 17.5 per cent, rather than treated as a zero-rated food. Public companies do not pay any VAT, but if customers can claim back their VAT, sometimes a private company becomes the cheaper option. Transparent will use the originals to claim back the monies from the relevant foreign VAT offices. In the current taxation structure VAT is levied by the state governments on an ad valorem basis as a percentage of the price of the product. The overarching goal of the forums is to make the VAT system in Europe more administrable. Currently, the UK has an exemption which means that new homes and self-builds are zero-rated for VAT purposes. Several Member States already apply a special measure on the basis of Article 27 to counter an arrangement which avoids the payment of VAT on untaxed investment gold used as a raw material for making consumer goods. On 18 June 1979, the higher rate was scrapped and VAT set at a single rate of 15 percent. A VAT exemption is not an unmixed blessing. Other services include, day-to-day record keeping, VAT returns and trial balances. One should note again that reorganisations, outsourcing and changes in services flow should be carefully reviewed from a VAT perspective before implementation to ensure fiscal neutrality to the possible extent. The use of certain lower VAT rates was one of the possible actions identified in the European economic recovery plan adopted by EU leaders last December. A VAT invoice can be viewed and printed at the end of your purchase. Carousel fraud happens when goods are continuously imported and exported, attracting multiple VAT rebates. Price pressures have nothing to do with wages and much to do with the Government's decision to increase VAT, the unfairest tax of all. To my astonishment, they tried to charge pounds 50 plus VAT, saying the car had to be depolluted before being disposed of. On 4 January 2011 VAT was raised to 20 percent by Chancellor George Osborne, where it remains. Show More Sentences It is also a popular shopping destination, and all goods and services are VAT free, but may be subject to Gibraltar taxes. During late 2011, the UK decided to end VAT relief on Channel Islands goods. However, because the Channel Islands have VAT free status, the UK carries out selective customs checks on travellers arriving from there. However, not all Schengen states or all of the territory of Schengen states are part of the customs union or VAT area. Moreover, ERP software offers an option for customs warehouse, introduced to save duty and VAT payments. The introduction in January 1999 of a VAT system should be followed up by supplementary measures aimed at fully aligning Maltese legislation on the acquis communautaire in that field. A whopping 18 billion VAT invoices are generated in the EU annually, so the switch to a fully electronic invoicing system would save time and money for more than 22 million taxable enterprises. The taxman is facing an unpaid bill of £26.2m in VAT and payroll taxes. For the suppliers, the practical inconvenience is that this forces them to fulfil VAT obligations in every Member State where they have nontaxable customers. The Italian delegation felt that applying a reduced rate of VAT would promote sales of discs, thus probably compensating for the loss in receipts, and would give a boost to employment in the European music industry. Although legislation is in preparation, in the absence at present of a VAT or excise system it must remain open to doubt whether Slovenia could comply with the acquis in the medium term. Some critics have drawn attention to what they perceive as an inconsistency with the fact that certain Member States apply reduced or zero rates of VAT to printed material such as books, newspapers and periodicals. With regard to indirect taxation, Finland's Presidency will continue with reform of the VAT system and, in the field of direct taxation, will push ahead with harmonisation of the tax base for corporate taxation. Indeed the proposal to extend VAT exemption on sales to all cars may be at odds with the recommendations of the IMF and the Commission regarding the budget balance. In its settled case-law, the Court of Justice has underlined that all exemptions have to be interpreted restrictively, since they are exceptions to the general rule which requires that VAT be levied on any economic activity. It follows from the settled case-law of the European Court of Justice that all exemptions have to be interpreted restrictively in order to respect the neutrality of the VAT system. The role of traditional own resources and VAT own resources within EU budget revenue has gradually reduced, while the role of GNI own resources has significantly increased. The company is jointly and unlimitedly liable for all taxes arising from VAT incl. interest and fines of the VAT group, if any, for the time since its introduction as a Group member of Switzerland. Minister VELTRONI deplored the fact that, unlike books, discs were subject to the Union's maximum rate of VAT and were thus considered as luxury items or consumer goods with no cultural content. Typically, the entrepreneurs within the chain of trading waste material, a significant number of whom go missing, do not pay VAT to the tax authorities after reselling the raw materials. Show More Sentences Several Member States have implemented strategies to deal with traders who go missing without paying VAT and have reinforced controls following information sharing on best practices in this field. This is harmonisation for the sake of it and we are in favour of abolishing VAT at European level and in favour of a highly progressive tax on company profits and on capital income. The allegation that several retailers are demanding boarding passes in order to skim the equivalent of VAT from people travelling outside the EU is clearly rankling shoppers. The level playing field aspect is especially key for small enterprises, which usually do not have resources to invest in VAT planning programs. Mr Pierre-Yves PERRACHON, Company manager, talked about his thoughts with regard to European construction, particularly his great expectations, which are often dashed, such as a single VAT rate within the Union. The home state would transmit the information to the other member states concerned, whose VAT rates and controls would be applicable, and who would collect the tax directly. In accordance with Community directives, French law provides that travellers from non-member countries can carry away in their luggage goods for which VAT will be reimbursed. Italy's action appears to be an overt renunciation of controls for the collection of VAT thus being in breach of the obligations it has assumed with regard to the application of Community law. If no VAT is charged, there is no scope for the potential 'missing' trader to abscond without accounting to the treasury for the VAT element of the price received from his customer. However, the authorities broadly managed to contain inflation, as the effects on prices of the introduction of VAT petered out during the first three months. The pleasure craft involved are the largest and most expensive ones, on which VAT had not been payable prior to 1993 whereas it had been payable on small pleasure craft, e.g. small sailing boats. Whereas Spanish VAT legislation does accept the principle of refunding tax in such situations, this principle is nullified in practice by the very long periods during which the authorities can effect refunds under the law. But the two sides remain far apart on vexing issues like pension cuts and VAT increases, even though they have moved closer on privatisations and this year's fiscal targets. Things have improved but my biggest bugbear is that there are few people in any government who have actually worked in a SME, and know what it is like to pay VAT, rates and wages. Initially, they are justified by the differences in VAT rates between Member States and the need to protect the revenue of Member States by averting the risks of relocation of activity and deflection of trade. The Sixth VAT Directive calls for subjection to the tax of services provided by public authorities where a doing otherwise would give rise to significant distortions of competition. All prices are quoted in euro, pound sterling, swiss franc or swedish krona and are inclusive of all taxes including VAT, but excluding costs of delivery. Missing trader fraud is where VAT registration is obtained to acquire goods VAT-free from other EU member states. It's also known as Missing Trader Fraud because, when the taxman tries to get VAT, the firm that should pay has vanished. Since VAT is a tax on consumption, the Commission feels that the best means of determining the revenues due to each Member State by dint of taxed consumption on its territory is to quantify that consumption statistically. Show More Sentences With regard to the reform's effect on the VAT yield in each Member State, the information which has reached the Commission both officially and unofficially shows that the new system is neutral. However, it is concerned that this reverse charge system may negatively affect Member States' revenues, due to other new types of fraud such as untaxed consumption and the misuse of VAT identification numbers. In the case of Slovenia, the impact of a change in the recording of VAT in 2002 is still under discussion between Eurostat and the Slovenian authorities. Payments shall be made in euro as supplier to the buyer of the Parties signed the trade acceptance certificate, VAT invoice for payment. After West Germany adopted the VAT in 1968, most other western European countries followed suit, largely as the result of a desire to harmonize tax systems. The Italian legislature has given all taxable persons liable to VAT and subject to its fiscal competence the possibility of bypassing entirely any form of fiscal control in relation to a series of tax years. Following an interruption in the downward movement in 1995, which was partly due to the impact of increased VAT rates, it has continued to fall at an accelerated pace. Whether VAT or turnover tax, you can effortlessly assign both forms of tax to the different commodity groups as well as set up to 4 tax rates and up to 8 operators. While the PM may have ditched the infamous pastie tax, he's left the humble toastie at the mercy of the VAT man. Terry Perdue, 44, of Trallwn Road, Swansea, a father of two, admitted failing to pay PS327,972 to HMRC in VAT returns. I simply charge what it costs me to buy plus VAT and a small credit card handling charge to show that garages are not fleecing customers. So here's their chance to do something about VAT and all those hidden taxes. Food products are usually zero-rated for VAT, but one of the exceptions is the humble potato crisp. The islands are outside the European Union customs territory and VAT area, though politically within the EU and Schengen Area. Prior to the implementation of the VAT, it had been relatively easy to evade sales tax, and many businesses were in violation of tax code. Pillage like this makes you wonder whether VAT, with its vulnerable structure of re-funds, has not passed it self-life. Small cable transport systems, including ski lifts, will be treated as public transport, slashing VAT on tickets from 20per cent to five. In the grain trade there is a large draning of VAT using fictious export and fictitious bills. Increasing VAT would cost an average family pounds 425, a regressive tax which clobbers low and middle income homes much harder than the wealthiest. The rest came from loss of Corporation Tax, VAT and other direct taxes. Show More Sentences As a result, petrol price in Delhi went up by 28 paise a litre after considering a local government decision to hike VAT or sales tax on the fuel from 20 to 25 per cent. Until 2001, VAT was charged at the full rate on unused sanitary towels. But the bridge concessionaires don't get the VAT back, they get the same amount of money handed back to them from the Government, through the Department of Transport. Carousel fraud involves importing, or claiming to import, goods from another EU country without paying VAT, then selling them on and pocketing the tax. Under existing British VAT regulations, capital goods used for business must be bought in the name of a sole trader or company for sales tax to be reclaimed. Only intraperitoneal VAT is drained by the portal vein, a characteristic central to hypotheses linking VAT accumulation to cardiometabolic disease. Sales tax is levied under VAT legislation at the state level. In 2012, changes were made to the agreement to reflect the effect of changes in VAT and Corporation Tax and the costs of installing credit card handling systems. However, intermediate consumers may reclaim VAT paid on their inputs, so that the net VAT is based on the value added by producing this good or service. Examples from Classical Literature Finally the Commission formally requests Cyprus, via a Reasoned Opinion, to transpose EU rules on VAT invoicing into national law. Bill's March 22 letter discussing TEI's concerns about delays in VAT registrations in the acceding countries. The proposal to add standard rate VAT to freshly baked pasties and other bakery items sold 'above ambient air temperature' was messy and unenforceable. More needs to be done to support pubs, there needs to be changes in VAT and alcohol duty to favour pubs ahead of supermarkets so it bcomes more affordable to go to the pub. Find more words! 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What is the plural of VAT? Translations for VAT Use our Sentence Generator Nearby Words vat vasty vastus vastu vasts vastness vater vates vatful vatfuls vatic Vatican