A Value-added Tax (VAT) and the Federal Income Tax Reform

A Value-added Tax (VAT) and the Federal Income Tax Reform

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The main question that my dissertation poses is whether or not a value-added tax (VAT) can work to positively reform the current federal income tax for individuals. Seeking a way to reform the current federal tax system, plagued by complexity, inefficiency, and unfairness, should begin with an observation of the fundamental ideas of income tax and consumption tax. A good reform idea must have strengths from each. A federal VAT, as a reform plan for the current federal tax structure, may work well to simplify the tax code and help reduce tax evasion, provided that the VAT is properly drafted. Furthermore, concerns about a federal VAT's propensity to collect more revenue and its regressive nature are often overstated. However, the major obstacle to the adoption of a federal VAT may be state and local tax structures that would offset most profits arising from such a VAT. Thus, a coordination of the federal and state tax systems would be an essential prerequisite to any federal tax reform plan that includes a VAT.242 method VAT, the Goods and Services Tax, to replace the out-of-date national Manufacturersa#39; Sales Tax (13.5 percent.) ... the federal government for a single tax base, Rate Reduction), available athttp://www.cra-arc.gc.ca/E/pub/gi/gi-018/gi -018-e.pdf; NOTICE226 (Proposed GST/HST Rate Reduction in 2008), ... for certain necessities, such as food, residential rent, and medical and financial services.

Title:A Value-added Tax (VAT) and the Federal Income Tax Reform
Author: Sok Bom Kim
Publisher:ProQuest - 2008

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