Who proposed the concept of value-added tax in 1918?
German industrialist Georg Wilhelm von Siemens proposed the concept of a value-added tax in 1918 to replace the German turnover tax.
Questions about Value-added tax
Short answers, pulled from the story.
When did Maurice Lauré implement VAT in France's Ivory Coast colony?
Maurice Lauré implemented VAT on the 10th of April 1954 in France's Ivory Coast colony after assessing the experiment as successful.
What percentage of state revenues does VAT account for in France?
In France, value-added tax is the largest source of state finance and accounts for nearly 50% of state revenues.
Which countries introduced VAT following the EEC directives adopted in April 1967?
Other member states including Belgium, Italy, Luxembourg, the Netherlands and West Germany introduced VAT following these directives.
How much VAT revenue does Bangladesh generate compared to other countries?
In Bangladesh, VAT became the largest source of government revenue totaling about 56% of total tax revenues worldwide.