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COMPARISON OF TAXES (VAT) OF COUNTRIES

WHAT IS VAT?is a business tax imposedAnd collected from the seller

in the course of trade orbusiness on every sale ofproperties ,lease of goods or

Properties, or vendors ofservices.

MAURICE LAURE

-In 1954, heinvented anIndirect taxOn Consumptionwhich became theTVA(taxe sur laValeur ajoutée).

PHILIPPINES

Currency: Philippine Peso

Tax Rate(VAT/EVAT): 12% (Standard) 0% ( Religious items, books)

Benigno Aquino III

U.S.A

Barack Obama

Currency: U.S. DollarTax Rate (VAT):There is no standardVAT rate in US, every

state has its own VAT

Rate.

U.S.A

Barack Obama

Tax Rate (VAT):Michigan: 8%Hawaii: 4%New Hamsphire: No Tax Charge

CANADA

Stephen Harper

Currency:Canadian DollarTaxRate(VAT): 5%(Standard) 10%(HST)

CHINACurrency: Chinese YuanTax Rate(VAT/Pinyin): 17% (Standard) 13% (Books, Oils)Hu Jintao

AUSTRALIA

Julia Eileen Gillard

Currency: Australian Dollar

Taxrate(VAT/GST): 10% (Standard) 0% (Fresh foods, education)

MALAYSIA

Mohd Najib Razak

Currency:Malaysian RinggitTax rate(VAT/GST): 10% (Standard)

SINGAPORE

Tony Tan Keng Yam

Currency: Singapore DollarTaxrate(VAT/GST): 7% (Standard)

JAPAN

Shinzō Abe

Currency:Japanese YenTax rate(VAT/Shohizei): 5% (Standard)

BRUNEI

Hassanal Bolkiah

Currency: Brunei DollarTax rate(VAT):

No VAT

INDONESIA

Susilo Bambang

Yudhoyono (SBY)

Currency: IndonesianRupiahTaxrate(VAT/PPN):

10% (Standard) 5% (Reduced)

THAILAND

Yingluck Shinawatra

Currency: Thai BahtTax Rate (VAT): 7% (Standard)

NORTH KOREA

Kim Jong-il

Currency:North Korean won Tax Rate (VAT): 10% (Standard)

SOUTH KOREA

Geun-hye

Park

Currency:South Korean won

Tax Rate(VAT/Bugase): 10% (Standard)

UNITED KINGDOM

DavidWilliam

Donald Cameron

Currency:British PoundTax Rate(VAT): 20% (Standard) 0% (Home energy)

5% (Groceries)

SWEDEN

John Fredrik Reinfeldt

Currency:Swedish KronaTaxRate(VAT): 25% (Standard) 12% (Hotels, Foods)

6% (Transportation)