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Not like GST : it would be on all transactions in the legal currency, including B2B. There wouldn't be an artificial difference between "businesses" and "custom
by ttoinou 8y ago
Not like GST : it would be on all transactions in the legal currency, including B2B. There wouldn't be an artificial difference between "businesses" and "customers"
Not like VAT : VAT is way more complex and expenses are deducted at each step
- IanCal 8y agoSo cheaper for large integrated companies? Sounds like it'd really hurt competitors starting up.
- tonyedgecombe 8y agoIt would kill any business with a long supply chain, the only manufacturers left would be the ones where ore arrives at one end of the factory and finished goods come out of the other end.
- ttoinou 8y agoIt would be cheaper for everyone because of tax simplifications. Current system is already unfair to a lot of group of people, including small businesses. And large company also have money transfers so I am not sure to understand the example unless we go into the specifics a little bit more