Value Added Tax(VAT) in the United States: Tax Policy Reasons and Aspects

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The VAT in the United States Name Institutional Affiliation Abstract This paper examines the United States’ Value-Added Tax regime and the vital policies regarding the VAT system. It is made up of eight sections. Section one introduces the general topic. Section two contains the rationale of VAT including its definition and explanation of the concept. Section three delves into VAT in the United States including the history, current status, tax policy behind it and insights into why the U.S. is the only OECD member state that does not apply the VAT system. Section four handles VAT outside of the U.S. with a keen focus on the VAT status in other OECD countries. Section Five delves into the proponents of the VAT in the U.S. including various scholars’ theories and tax policy reasons behind their argument. Section Six is about the opponents of VAT in the U.S. including different scholars’ theories and tax policy reasons behind their contention. Section Seven is a discussion of possible tax policy issues regarding the VAT while Section Eight offers and overall conclusion. Introduction The concept of value added tax (VAT) stems from a German businessman, Von Siemens’ writings in the 1920s. However, it was until 1948 that the first VAT was applied in France. Initially, France employed VAT that was GNP-based that covered up to manufacturing level before completely replacing it in 1954 with a consumption VAT. Throughout theory and research, it is evident that to establish an efficient system; the VAT must be broad, based on consumption and applied up to the retail phase. Evidence shows the link between a country’s advancements and its

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