Tag: VAT

Posted on by Tim Worstall

University Expansion Wasn’t A Good Idea – Michael Gove VAT And Sales Tax Edition

It has to be said that the expansion of the universities wasn’t all that obviously a good idea. Sticking 50% of the age cohort through grievance studies for three years doesn’t particularly aid the future. But rather more than that we have evidence that there’re not sufficient people competent to teach to staff the upgraded places.

Let us take as our example this analysis of Michael Gove’s idea to scrap VAT and replace it with a sales tax:

Value added tax is an idea embraced by more than 150 countries around the world.

… See More
Posted on by Tim Worstall

Well Of Course Jolyon Maugham’s Uber Legal Challenge Should Have Failed

Jolyon Maugham – Soapy Joe to those who know him well – has been trying to sue someone, somewhere, for some time now. He’s not willing to put up his own near half million a year of course, he relies upon crowdfunding and donations from interested parties to fund it all. That not being quite how English law does work, something which seems to have come as a surprise to this leading QC.

What does happen is that if you bring a case then great, all is well and good.…

See More
Posted on by Tim Worstall

The Biggest Tax Subsidy Is Low VAT Rates – Let’s Charge Full Whack On Everything

HMRC has just released its estimate of what tax reliefs cost the Treasury each year. This is sparking, as it obviously will, demands that some to all of these be closed so that ever more of the economy can flow through government. The thing is, the targets being aimed at are peanuts as opposed to the Great Big Nuts of the system that should be targeted.

By far the largest of these reliefs is VAT rates.…

See More
Posted on by Tim Worstall

VAT On E-Books Is As With Tampons – The EU Won’t Let Us Lift It

It would appear that the Publishers’ Association is ignorant of the manner in which the world works. Specifically, ignorant of the manner in which value added tax is a European Union imposed tax – even though the local nation collects the revenue – and the rules upon what is taxed and how being made at that higher level of sovereignty.

Children could be less likely to take up reading as a result of an “unfair and illogical” tax on digital books, publishers have said.

… See More
Posted on by Tim Worstall

Naked Self-Interest And The Idea Of Higher VAT For Online, Amazon, Sales

The latest suggestion for dealing with the decline of retail is one of such naked self-interest that those proposing it should be ashamed of themselves. Given that this isn’t something ever likely among estate agents we should instead point at them and laugh.

Or perhaps not laugh so much – Mancur Olson’s analysis of a democratic economy was that it becomes simply a cat fight among the special interests for who can pick our pockets. Here it being the landlords of commercial property who wish to be granted the privilege of doing so.…

See More
Posted on by Tim Worstall

Reasons For Brexit – India Dumps Tampon Tax, Britain Can’t

A minor but nonetheless real argument in favour of Brexit, the UK leaving the European Union. India ha just decided to lift the GST – that is, VAT – on tampons. Any and every British political party would do entirely the same. But they can’t, because the EU say no.

Yes, quite so, India is a sovereign nation, Britain not. That sounding like a pretty good reason to leave and be sovereign again:

India has scrapped its 12% tax on all sanitary products following months of campaigning by activists.

… See More