Value-added tax Lower VAT rates reduce the ‘black economy’. Self-enforcing VAT is 1950s French invention. Instead of a levy on final sale of a product/ service, it’s imposed at every step of production, with a refund for the tax paid at the previous step. Each firm reports the VAT the previous firm in the chain should’ve…
Tag: evade
Dodge Digital tech enables authorities to catch tax dodgers by ‘joining the dots’ to get a full picture of their financial affairs. HMRC now holds more data than the British Library Guessed the Word? Series 25 (3/5) [pic: webandi]