Number: RS22720
Title: Taxable Base of the Value-Added Tax
Authors: Maxim Shvedov, Government and Finance Division 
Abstract: The value-added tax (VAT) is a type of broad-based consumption tax, imposed in about 136 countries around the world. Domestically, it is often mentioned in policy discussions as a potential new or supplemental funding source for such large-scale social programs as Social Security, Medicare, national health insurance, etc. An example of such a proposal is H.R. 15 introduced in the 110th Congress. In addition, the VAT figures prominently in most fundamental tax reform discussions.
Pages: 5
Date: September 30, 2008