value-added tax

India has driven more of the economy into the formal sector, for instance by enacting a goods and services tax like Europe’s value-added tax, allowing more revenue to be extracted from more people and businesses.

India has driven more of the economy into the formal sector, for instance by enacting a Goods and Services Tax like Europe’s value-added tax, allowing more revenue to be extracted from more people and businesses.

In 1982, he sought to raise government income by imposing a value-added tax on children’s shoes.

The ruling means Walkers, the company that makes poppadoms and dozens of other snack foods, will have to pay the same value-added tax on its poppadoms as it does on its various crisps.

The tax reform will merge the five main levies into two value-added taxes: one federal and another to be shared between states and municipalities.