Machinery and equipment investment is likely to expand due to pent-up demand since the recession and the removal in January of a turnover tax on equipment.
12.
Dealers with a taxable turnover, in a tax period of 12 months, between Rs . 5.00 to 40.00 lacs are registered as Turnover Tax ( TOT ) dealers.
13.
Currently, decisions on turnover tax can take up to six months and are made by the Ministry of Finance, while the MPI is responsible for issuing investment licenses.
14.
Pizzato was charged with organizing a scheme to evade about $ 750, 000 in turnover taxes by seeking German exemptions on 77 shipments of silver granules from Switzerland.
15.
The collection of Business Turnover Tax ( BTT ) and its successor Value Added Tax ( VAT ) from remains insignificant because of predominance of small size business.
16.
This assembly session approved amendments in the turnover tax and consumption tax laws to close loopholes, but failed to finish work on a budget law that would limit deficits.
17.
But the turnover tax is used to finance the country's highway system, and he warned that other sources of highway funding would have to be found to replace it.
18.
In a book published in 1955, Holzman described how the Soviet Union's turnover tax, a form of sales tax, redistributed money from low-income people to more highly paid ones.
19.
However, the government's introduction of a 2.5 % turnover tax in 1963, badly damaged the political position, with a by-election of that year reducing the government's majority to one seat.
20.
According to the former minister s calculations, the use of VAT accounts would actually become a turnover tax that will deprive business of 1 / 5th of its financial resources.
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