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Essay text:
The VAT (Value
Added Tax) of the United Kingdom is much the same tax adding seventeen
and a half percent to all goods and services (although there are
exceptions). This tax is currently in operation in the UK. Differences
between the proposed GST and VAT are not great but there are some
significant differences.
If and when the GST becomes a reality a range of taxes including
wholesale sales tax and provisional tax will disappear when the GST
appears. Daily consumables and services will rise as a result of the
GST. The government is promising to balance the tax by creating
household savings through lower marginal tax rates...
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