See Goods and Services Tax.
A consumption tax is levied on goods and services purchased by customers, and is added to the retail price. The Japanese government introduced a 3% consumption tax in April 1989, and raised the rate to 5% in April 1997. In its July 2000 medium-term report, the government's Tax Commission suggested raising the consumption tax rate further. The Ministry of International Trade and Industry is calling on retailers and service providers to use invoices which include tax payments, to prevent them from cheating on the consumption tax. Debate over the consumption tax is likely to heat up in Japan. In the U.K., Germany and other European countries with value-added taxes, which are equivalent to a consumption tax, retailers and service providers usually include the tax in the final price. To protect consumers, member countries of the European Union are encouraging all retailers and service providers to adopt this practice.
Often associated with taxes collected at the cash register, but any system that does not double-tax savings and investments is a consumption tax. The flat tax and the "consumed-income" tax (basically an unlimited individual retirement account) are consumption-based income taxes.
a good substitute for the income tax
a tax levied on sales of goods or services
a tax on wealth and can't be avoided in the ways the well to do are able to pay to do now
a wait-until they use the potty-tax
A tax on expenditures, rather than on earnings.
Taxes levied on the consumption of goods and services. Indirect taxes on consumption include excise duties, wholesale or retail sales taxes, value-added taxes, or other taxes on intermediate transactions. Consumption taxes form a wedge between the price paid by the purchaser and the price received by the supplier. For any good or service, the demand price is the market price plus consumption taxes and less consumption subsidies.
( taxe à la consommation). A tax on consumption – purchases of goods and services. Such taxes are levied by both the federal and provincial governments. Federal consumption taxes consist mainly of the goods and services tax (GST) and excise taxes on motor fuel, tobacco products and alcoholic beverages. Provincial consumption taxes consist mainly of retail sales taxes, and provincial taxes on fuel and tobacco products. For more information, visit the Canada Revenue Agency Goods and Services Tax (GST) and Harmonized Sales Tax (HST) Web page.
A consumption tax is a tax on the purchase of a good or service.