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Global map of countries by tariff rate, applied, weighted mean, all products (%), 2021, according to World Bank. This is a list of countries by tariff rate. The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1. Import duty refers to taxes levied on imported goods, capital and ...
Map of the world showing national-level sales tax / VAT rates as of October 2019. A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
In economics, zero-rated supply refers to items subject to a 0% VAT tax on their input supplies. The term is applied to items that would normally be taxed under valued-added systems such as Europe's Value Added Tax (VAT) or Canada's Goods and Services Tax (GST). Examples of these items include most exports, basic groceries, and prescription drugs.
The existing standard rate for GST effective from 1 April 2015 is 6%. Many domestically consumed items such as fresh foods, water and electricity are zero-rated, while some supplies such as education and health services are GST exempted. After Pakatan Harapan won the 2018 Malaysian general election, GST was reduced to 0% on 1 June 2018. [73]
Interest income from a depository bank under the expanded foreign currency deposit system is taxed at the rate of 15%. [3] Income from long-term deposits and investments, when pre-terminated in less than three years after making such deposit or investment, is taxed at the rate of 20%; less than four years, 12%; and, less than five years, 5%. [2]
Ireland is the only EU country to have a zero tax rate on sanitary goods. [19] The rate predates legislation restricting zero-rating (a grandfather clause). [3] In Germany, the amount of tax on sanitary items was cut from 19% (the basic rate) to 7% (the reduced rate) as of January 1, 2020.
Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items. Examples include exemption of charitable organizations from property taxes and income taxes, veterans, and certain cross-border or multi-jurisdictional scenarios.
The tax amount is usually ad valorem, that is, it is calculated by applying a percentage rate to the price of a sale. When a tax on goods or services is paid to a governing body directly by a consumer, it is usually called a use tax. Often, laws provide for the exemption of certain goods or services from such taxes.