Kotlikoff , Laurence J. Feldstein and A. Auerbach Amsterdam : North-Holland , pp. Lahiri , S. Lent , George E. Leuthold , Jane H. Khalilzadeh-Shirazi and A. Shah Washington : World Bank , pp. McLure , Charles E. Washington : American Enterprise Institute. Pellechio , Anthony J. Ring , Raymond J. Sah , Raaj K. Schenk , Alan , and Howell H. Shoup , Carl S. Shoup , and Gerardo P. Stockfisch , J. Sullivan , Clara K. Summers , Victoria P. Tait , Alan A.
Newbery and N. Stern Oxford : Oxford University Press , pp. Goldin and A. Winters Cambridge, U. Terkper , Seth A. Burki and G. Peary , eds. Younger , Stephen D. Zodrow , George R. All Rights Reserved.
Topics Business and Economics. Banks and Banking. Corporate Finance. Corporate Governance. Corporate Taxation. Economic Development. Economic Theory. Economics: General. Environmental Economics. Exports and Imports. Finance: General. Financial Risk Management.
Foreign Exchange. Industries: Automobile. Industries: Energy. Industries: Fashion and Textile. Industries: Financial Services. Industries: Food. Industries: General.
Industries: Hospital,Travel and Tourism. Industries: Information Technololgy. Industries: Manufacturing. Industries: Service. Information Management. International Economics. International Taxation. Investments: Bonds.
Investments: Commodities. Investments: Derivatives. Investments: Energy. Investments: Futures. Investments: General. Investments: Metals. Investments: Mutual Funds.
Investments: Options. Investments: Stocks. Islamic Banking and Finance. Money and Monetary Policy. Natural Resource Extraction. Personal Finance -Taxation. Production and Operations Management. Public Finance. Real Estate. Sustainable Development. Urban and Regional. Cloud Computing. Computer Science. Data Processing. Data Transmission Systems. Internet: General. Management Information Systems. Web: Social Media. Health and Fitness. Diet and Nutrition. Diseases: Contagious. Diseases: Respiratory.
Business and Financial. Health Policy. Natural Resources. Environmental Conservation and Protection. Natural Disasters. Political Science. Environmental Policy. Social Services and Welfare.
Civics and Citizenship. National and International Security. Political Economy. Social Science. Women's Studies. Emigration and Immigration. Gender Studies. Poverty and Homelessness. Technology and Engineering. Mobile and Wireless Communications. Countries Africa. Burkina Faso.
Cabo Verde. Central African Republic. Comoros, Union of the. Congo, Democratic Republic of the. Congo, Republic of. Equatorial Guinea, Republic of. Eritrea, The State of. Eswatini, Kingdom of. Ethiopia, The Federal Democratic Republic of. Gambia, The. Lesotho, Kingdom of. Madagascar, Republic of. Mozambique, Republic of. Sierra Leone. South Africa. South Sudan, Republic of.
Tanzania, United Republic of. Asia and Pacific. Brunei Darussalam. China, People's Republic of. Cook Islands. Fiji, Republic of. Korea, Democratic People's Republic of. Korea, Republic of. Lao People's Democratic Republic. Marshall Islands, Republic of the. Micronesia, Federated States of. Nauru, Republic of. New Zealand. Palau, Republic of. Papua New Guinea. Solomon Islands. Sri Lanka. Taiwan, Province of China.
Timor-Leste, Democratic Republic of. Andorra, Principality of. Belarus, Republic of. Bosnia and Herzegovina. British Virgin Islands. Cayman Islands. Croatia, Republic of. Czech Republic. Estonia, Republic of. Faroe Islands. French Guiana. French Polynesia. Holy See. Isle of Man. Kosovo, Republic of. Latvia, Republic of. Lithuania, Republic of. Moldova, Republic of. Netherlands, The. New Caledonia. North Macedonia, Republic of.
Poland, Republic of. Russian Federation. San Marino, Republic of. Serbia, Republic of. Slovak Republic. Slovenia, Republic of. Turks and Caicos Islands. United Kingdom. Wallis and Futuna Islands. Middle East and Central Asia. Afghanistan, Islamic Republic of. Armenia, Republic of. Azerbaijan, Republic of.
Bahrain, Kingdom of. Egypt, Arab Republic of. Iran, Islamic Republic of. Kazakhstan, Republic of. Kyrgyz Republic. Mauritania, Islamic Republic of. Saudi Arabia. Syrian Arab Republic. Tajikistan, Republic of. United Arab Emirates. Uzbekistan, Republic of.
Yemen, Republic of. Western Hemisphere. General Considerations Businesses that sell VAT exempt goods should be aware of the following rules: VAT should not be included in the price of any exempt items that you sell. Businesses cannot reclaim VAT on any exempt items that they purchase or on any expenses incurred.
No VAT invoice should be issued for exempt sales. No VAT is chargeable on an exempt supply, and input VAT cannot be recovered except as allowed under the partial exemption provisions. Exempt Supplies We have listed below some of the main categories where you can find exempt supplies, but it is important to be aware there are exceptions in almost every category.
Many transactions involving land and buildings are exempt from VAT. However, there are special VAT rules that allow businesses to convert the treatment of most non-residential and commercial land and buildings to taxable at the standard rate.
This is known as the option to tax. This means that subsequent supplies by the person making the election will be taxable at the standard rate including the subsequent sale of the relevant land and buildings.
Once an option to tax has been made it can only be revoked under limited circumstances so proper consideration of the issue is important. Almost all insurance transactions are exempt from VAT. However, some premiums received under contracts of insurance are liable to Insurance Premium Tax. Postal services. Public postal services provided by the Royal Mail under a universal service obligation are VAT exempt. Other postal services are standard rated for VAT. Education and training.
Education, vocational training and other connected services provided by an eligible body like a school, college or university are VAT exempt. Most supplies of financial services are exempt from VAT.
However, other services connecting to financial services such as bookkeeping, debt collection, management consultancy and investment, finance and taxation advice are usually not exempt. Health and welfare. Healthcare is a complex area for VAT but exempt supplies include care or medical treatment provided by a qualifying institution like a hospital, hospice or nursing home and for health services provided by registered doctors, dentists, opticians, pharmacists and other health professionals.
Investment gold. Investment gold coins are exempt from VAT. The exemption applies to certain sporting and physical education services by eligible bodies as well as entry to certain competitions in sport or physical recreation. The provision of facilities for betting and gaming, bingo, and lotteries are normally exempt from VAT.
However, there are some important exceptions where you must account for VAT such as admission charges to premises where betting and gaming takes place. You must have Javascript enabled to submit this form. We are committed to keeping your information safe.
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