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VAT and sales tax is something that kills businesses. It is a tax specifically designed to be punitive and it is a major stumbling block in growing a business.
by surfingdino 14y ago
VAT and sales tax is something that kills businesses. It is a tax specifically designed to be punitive and it is a major stumbling block in growing a business.
- pmjordan 14y ago[citation needed] I dislike paying taxes as much as the next person, but where exactly are you getting these supposed facts from? Particularly in retail, the fact that VAT is an indirect tax doesn't really matter much as late payment basically doesn't happen. (whereas I'll accept that it can sink your company if you invoice your customer some huge amount and they don't pay and you still owe the VAT on revenue that never materialised)
- lazyjones 14y agoVAT exists only because greedy, inefficient governments could tax everyone (esp. lower incomes) easily with it. It seems most unfair to online retailers, because they usually only earn a fraction of the government's cut per sale (around here: typically 1/4th for electronics, i.e. 20% VAT, 5% merchants' margin).