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The single market - changes in VAT procedures

Article Abstract:

The Single European Act of 1987 calls for the elimination of all internal barriers to allow products, services, people and capital to flow freely within the EC. The enactment of the law will radically change how value-added tax is to be collected on goods that move from one state to another within the region. Customs border controls, the point where VAT is imposed on imported goods, will have to be dismantled by Jan 1993. This means a new system must be put in place that will function in much the same way as the customs controls, that is, it must be able to control the taxation of products and also to gather vital trade statistics. An interim VAT system is proposed, one that incorporates the elements of both the origin and the destination taxation principles. Eventually, the full origin system will be adopted. New reporting obligations will be imposed on firms to obtain vital trade statisics.

Author: Brown, John, Chadwick, Suzanne
Publisher: Institute of Chartered Accountants in England & Wales
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
Laws, regulations and rules, European Union, Tariffs, European Community

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What's the risk?

Article Abstract:

The issue of auditing in a development e-business world is being addressed in Australia for the first time by the Australian Auditing & Assurance Standards Board(AuASB) of Australian Accounting Research Foundation.

Author: Hughes, Dianne Azoor
Publisher: Institute of Chartered Accountants in England & Wales
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2001
Research, Australia, Auditing

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The unpredictable certainty

Article Abstract:

The European Commission is examining the issues surrounding VAT requirements with the development of e-business in Europe.

Author: Kilby, John, Barlow, Dan
Publisher: Institute of Chartered Accountants in England & Wales
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2001

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Subjects list: Europe, Taxation, Value-added tax, Economic aspects, Internet
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