With all this talk of well-known and long-time businesses shutting down, I'm curious as to what experts especially in Third World countries think of the effect of the 10% VAT tax applied to an "Old World"/primitive Asian economy.
I remember reading a case subject in a macro economics textbook, but can't be bothered to search for it and I think real-life experience is always better.
Care to elaborate on the new VAT and the effect of the transition to the semi-transparent tax regime from the underworld "tea" economy.
Effect on new businesses?
Effect on existing businesses?
Chance of the new taxes staying?
2018 election forecast?
Effect of the real estate oversupply in 2018?
Effect of hydroelectric dams (delayed or on time) on the PP/Cambodian economy?
Effect of the President-Elect on the USD used in Cambodia?
Impact of VAT on Businesses in 2017?
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- RicePikey
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Impact of VAT on Businesses in 2017?
Fool's folly is following another fool.
- The Grand Jester
Caution: all of my posts are to be taken with a grain of salt, heroin, and Everclear. Then you can reply back to us.
- The Grand Jester
Caution: all of my posts are to be taken with a grain of salt, heroin, and Everclear. Then you can reply back to us.
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- RicePikey
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Nobody touching this subject after about half a week? Are we really going down in this crappy economic climate? They won't repeal it or let it go?
They really are going to kill us off? I doubt it ... unless they are apathetic and planning on leaving in 2018 anyways?
They really are going to kill us off? I doubt it ... unless they are apathetic and planning on leaving in 2018 anyways?
Fool's folly is following another fool.
- The Grand Jester
Caution: all of my posts are to be taken with a grain of salt, heroin, and Everclear. Then you can reply back to us.
- The Grand Jester
Caution: all of my posts are to be taken with a grain of salt, heroin, and Everclear. Then you can reply back to us.
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- Feminist Watch List
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I do not see the issue. My business has been paying VAT tax for years.
Pity the authorities do not really allow you input credits.
Besides. I thought you were the business expert.
Pity the authorities do not really allow you input credits.
Besides. I thought you were the business expert.
Note to self: Must be nice to morons.
it seems to be making owners so ill they can no longer run their business and have to sell
Ι'м тнє σиє ωнσ нαѕ тσ ∂ιє ωнєи ιт'ѕ тιмє fσя мє тσ ∂ιє ѕσ ℓєт мє ℓινє му ℓιfє тнє ωαу Ι ωαит тσ - ʝJιмι Нєи∂яιχ
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- I have Cheap Mobile Internet
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For smaller businesses it could mean they will no longer be profitable, e.g. customers used to a low price who do not come back. Improving service or products is often suggested as solution however this requires serious investments which smaller companies might not have ready on hand.
Furthermore accounting is required which most would have to hire as they lack the skills.
There could be a threat of bankruptcy if the tax-man will try to collect over previous years based on estimated profits and unpaid taxes....
On top of this there are talks of a country-wide minimum wage system. For foreigners visa and WP costs go up. So running a small business is getting less attractive compared to a few years ago. Money sitting at an IMF @ 10% could in same cases look more attractive and stress-free.
International or bigger businesses might be hurt less as they either already comply or have deeper pockets.
Furthermore accounting is required which most would have to hire as they lack the skills.
There could be a threat of bankruptcy if the tax-man will try to collect over previous years based on estimated profits and unpaid taxes....
On top of this there are talks of a country-wide minimum wage system. For foreigners visa and WP costs go up. So running a small business is getting less attractive compared to a few years ago. Money sitting at an IMF @ 10% could in same cases look more attractive and stress-free.
International or bigger businesses might be hurt less as they either already comply or have deeper pockets.
Makes life expensive for the consumer (eg. an ever more expensive BKK where you generally pay VAT plus service charge in good bars and restaurants, which substantially increases the expected bill), and is a GREAT way for the tax authorities to make heaps of money fining companies that actually try to implement VAT and get it even slightly wrong. As for trying to claim back a refund here - ha, ha forget it........All in all, everyone except the tax authorities loses out big time.
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