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SOME GLOBAL GOODS & SERVICE TAX MODELS

Goods and Service Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 4-7-2015 - Some of the popular GST models being practiced in various countries are as follows - United Kingdom model Value Added Tax (VAT) is a tax on consumption levied in the United K .....

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different rates depending on the goods' luxuriousness. The general rate is 20% and reduced rate is 5%. United States of America model The United States does not impose a national-level sales or value-added tax. Sales taxes and complementary use .....

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re and Oregon do not impose such taxes. Canadian model Being a Federal State, Canada follows dual GST between Union and States having three components - Federal GST and Provincial Retail Sales Tax (PRST) being administered separately; joint federal a .....

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Australia follows a single GST which is a federal tax collected by Centre and distributed to States. GST was introduced in July 2010 and rate of tax is 10%. Indian situation is similar but States may not like to lose their autonomy. Malaysian model .....

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the Government reading of the 2014 budget, Malaysian Prime Minister announced that GST @ 6% shall be imposed starting on April 1, 2015. Singapore model On the recommendation of the 1986 Economic Committee, Singapore's government decided to shift .....

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