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Value added tax : Korea case study

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Frame of Image  nature of special interest pleading • general grumbling: all new taxes are bad taxes
relatively well
u improvement u s o me
over the indirect taxes it replaced.
• theoretical advantages of a hypothetical tax • actual advantages of a particular form of tax.
difference:
u s i n g le u 23.0%
largest tax in Korea of total tax revenue of total tax on goods and services
u 65~70% u 8%
of private consumption of GDP
u 4.5%
u P r ic e
Level and Savings Trade
u Investment
u International u Distribution
of the Tax Burden
u one-shot
increase, not a recurrent increase distinction:
u conceptual
• VAT as an additional tax • VAT as a substitute revenue source. • management of aggregate demand to prevent a wage-price spiral. • government imposed strong price controls.
u no
major impact on increase in price level
u consumption-type
• full credit for the tax included in purchases of capital goods. • not a subsidy on the purchase of capital goods • simply elimination of the taxes imposed on them.
VAT:
u substantial
benefits to manufacturing, electricity and gas industries
• no noticeable change in saving and investment
u effects
of VAT on savings or investment
u VA T
with zero rating has a very favorable influence on exports. between two cases:
u distinction
• substitution of VAT for direct taxes - trade advantage • replacement of indirect taxes by VAT- negligible .
u modest
contribution to the improvement of balance of payments
u a b s o l ut e
burden: more or less regressive with
respect to


Full Text
Title Value added tax
Similar Titles
Sub Title

Korea case study

Project Category Capacity Building Workshops
Material Type Proceedings
Author(English)

Kwang, Choi

Publisher

Korea:

Date 2012
Event

World Bank-KDI School Conference on Fiscal Policy and Management (1st WB-KDIS Development Forum)

Project Capacity Building Workshops
Pages 34 (ppt)
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pptx
Subject Economy < Financial Policy
Holding KDI 국제정책대학원
Recipient Country Asia & Pacific(Asia and Pacific)
Donor Country South Korea(Asia and Pacific)
Organizer KDI 국제정책대학원
Program Type Conference
Project Term 2011-11-14 ~ 2011-11-18