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The rise
of indirect tax
Amount that could be raised in the US by a European-style value–added
tax (V...
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The rise of indirect tax

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Indirect taxes are booming.

As they work to bring public finances under control, governments around the world are increasing VAT, excises and other indirect taxes. They see this as a straightforward way to raise additional revenue.

To find out more, visit: http://tmagazine.ey.com/issue/issue-08/

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The rise of indirect tax

  1. 1. The rise of indirect tax US$1,000,000,000,000 Amount that could be raised in the US by a European-style value–added tax (VAT) system with a 20% standard rate 1954 France becomes the first country to introduce VAT 1967 Brazil and Denmark introduce VAT, soon followed by Germany, Sweden and the Netherlands 69% 1969 Eight countries have introduced VAT 133 Total size of GE’s global indirect tax team, up from zero, 17 years ago 20% The proportion of tax policy-makers who expect indirect taxes to generate more revenue in the future 1973 The UK, Austria and Italy introduces VAT 1986 New Zealand introduce a goods and services tax (GST) The current standard VAT in Morocco, compared with 16% in Kenya, 14% in South Africa and 5% in Nigeria 1989 Japan becomes the 53rd country to introduces a VAT system 22 21 20 19 2012 2010 2008 2006 2004 EU-27 2002 18 2000 Average standard VAT rate Average VAT rates across the EU-27 Source: Indirect Tax in 2012, Ernst & Young 1991 South Africa and Canada introduce VAT, followed later in the decade by Poland and Switzerland, among others 2001 Worldwide, 129 countries now have VAT 2006 A European Council Directive requires Member States to have a minimum VAT standard rate of 15% and one or two reduced rates not to be below 5% Six global indirect tax trends Rising VAT and GST rates Broadening base for VAT and GST Refining of consumption tax systems Renewed efforts by tax administrations on compliance and avoidance, aided by use of advanced technologies Rising excise duties Reducing customs duties, arising from more free trade 2009 VAT receipts represent an average 7.4% of gross domestic product (GDP) among EU Member States 18.7% 2010 The European Commission releases a Green Paper recommending “a broad-based VAT system, ideally with a single rate” 2011 Hungary announces that its standard VAT rate will rise to 27% in 2012 – the highest in the EU The average tax revenue 2012 Some form of VAT and GST across the Organisation for applies to 156 countries worldwide, Economic Co-operation and accounting for an average of 20% of Development (OECD) that was total tax revenue accounted for by VAT in 2012, compared with 8.8% in 1975 Value added tax (VAT) Country Standard rate in selected countries Hungary Sweden United Kingdom Germany Russia South Africa Switzerland Singapore (GST) Japan (consumption tax) United Arab Emirates 27% 25% 20% 19% 18% 14% 8% 7% 5% 0% *2012 Source: HSBC Expat Explorer 2011, Atlas Corporate Relocation Survey 2011, Ernst & Young Global Mobility Effectiveness Survey 2011, EIU — Up or out: Next moves for the modern expatriate 2010; graphic: Käthi Dübi For the latest tax news and insights, please visit: ey.com/tmagazine © 2013 EYGM Limited. All Rights Reserved. ED none.