The reforms of 1989 included Bhutan's first business income tax, replacing its previous 2 % turnover tax; abolishing export and nuisance taxes; and exempting plant machinery from sales and import duties.
22.
"This will assist foreign investors because they will know what turnover tax they are subject to at the time the investment license is issued rather than months later, " he said.
23.
Among its main recommendations are increasing the " turnover tax, " a sales tax paid by retailers, from 2 percent to 5 percent, layoffs of 2, 500 government workers and strict controls on spending.
24.
"The MPI's ability to determine the turnover tax in the investment license would be a very positive development, " said Nigel Russell, a partner in the Hanoi office of Australian law firm Phillips Fox.
25.
The turnover tax, another major source of budget revenue, was originally employed in the Soviet Union as a simple and effective method of collecting most of the funds needed by the government without requiring extensive bookkeeping and estimating.
26.
The taxes covered by the arrangement do not include business tax in China, which is a sort of turnover tax ( apart from the very generous exemption from business tax for shipping, air and land transport income ).
27.
As six-party talks got underway on 20 May, amid differences on taxation policy between the NCP and SDP . The latter were opposed to the former's plan to raise the turnover tax; the talk also sought to ensure revenue needed to be saved so as continue funding government programmes in the future.
How to say turnover tax in Hindi and what is the meaning of turnover tax in Hindi? turnover tax Hindi meaning, translation, pronunciation, synonyms and example sentences are provided by Hindlish.com.
