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Value Added Tax: Let It Be

In: More than Revenue

Author

Listed:
  • Ana Corbacho

    (Columbia University)

  • Vicente Fretes Cibils

    (North Carolina State University)

  • Eduardo Lora

    (London School of Economics)

Abstract

The idea of levying a tax on value added emerged in the first half of the twentieth century, and has spread throughout the world. Introduced in France in 1954, a value added tax (VAT) had been adopted by 10 countries by the late 1960s, by 48 countries by the late 1980s, and is used by more than 140 countries today. It has been so successful because, in comparison with other revenue sources such as foreign trade taxes, income tax, or social security contributions, VAT offers advantages in terms of revenue, neutrality (equal treatment for all sectors), and ease of administration (simplicity of monitoring and enforcement).

Suggested Citation

  • Ana Corbacho & Vicente Fretes Cibils & Eduardo Lora, 2013. "Value Added Tax: Let It Be," Palgrave Macmillan Books, in: Ana Corbacho & Vicente Fretes Cibils & Eduardo Lora (ed.), More than Revenue, chapter 9, pages 159-175, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-31597-7_9
    DOI: 10.1057/9781137315977_9
    as

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