Underreported sales would almost certainly be much higher with a national retail tax for two reasons: (1) enforcing the income tax currently relies on cross-verification between federal and state income taxes, and (2)
the effective sales tax rates are currently low.
Not exact matches
As a result, retail
sales taxes raise the Canadian METR [marginal
effective tax rate] by approximately 2.5 percentage points, compared to the 9 percentage points that would prevail in the absence of any exemptions.
Past achievements include building the case for deficit reduction in the 1980s and early 1990s, for consolidation of the Canada and Quebec Pension Plans in the late 1990s, a series of shadow federal budgets and fiscal accountability reports in that began in the 2000s, and work on marginal
effective tax rates on personal incomes and business investment, which has laid the foundation for such key changes as
sales tax reform, elimination of capital
taxes, and corporate income
tax rate reductions.
Examples of forward - looking statements include, but are not limited to, statements we make regarding the Company's plans, assumptions, expectations, beliefs and objectives with respect to store openings and closings; product introductions;
sales;
sales growth;
sales trends; store traffic; retail prices; gross margin; operating margin; expenses; interest and other expenses, net;
effective income
tax rate; net earnings and net earnings per share; share count; inventories; capital expenditures; cash flow; liquidity; currency translation; growth opportunities; litigation outcomes and recovery related thereto; the collectability of amounts due under financing arrangements with diamond mining and exploration companies; and certain ongoing or planned product, marketing, retail, manufacturing, information systems development, upgrades and replacement, and other operational and strategic initiatives.
It ensures uniform and
effective tax rates on the final
sale price of products.
This property has since become one of the world's «premier destination [s] for wealthy foreigners with rubles, yuan, and dollars to hide,» largely due to the
tax breaks it receives: the anonymous purchaser of a $ 100 million duplex in that building will need to pay a property
tax bill with «an
effective rate of 0.017 percent of its
sales price.»
Similarly, it makes
effective tax rates quite useless; after all, as seen in example 4, knowing that a client already owes $ 35,379 on the first $ 200,000 of income signals nothing about what the
tax consequences will be on the next $ 1,000 of Roth conversion / IRA withdrawal / annuity investment /
sale for a capital gain or loss / etc.
Prior to the budget Entrepreneurs» Relief (where the gain on the
sale of shares in a private limited company is
taxed at an
effective rate of 10 %) was only available to those who held shares in a company, were also a director or employee of the company concerned and met a number of other criteria.