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VAT only applies to consumers, not businesses. To be fair, that seems to be where our corporate tax system is headed anyway: zero rating for the companies, and
by nikanj 9y ago
VAT only applies to consumers, not businesses. To be fair, that seems to be where our corporate tax system is headed anyway: zero rating for the companies, and consumers pay all the taxes.
- jnordwick 9y agoCorporations don't pay taxes in any meanings sense anyways. Individuals always pay for taxes. Owners (lower profits), employees (lower wages and fewer jobs), and consumers (high prices and fewer products) all split the tax burden imposed on a firm.