At 02:02 PM 5/19/2002 -0700, Winsor Crosby wrote:
[snip]
>I thought VAT was value added tax. What value is added when someone buys a
>new lens and uses up part of its lifetime and then sells it?
Silly rabbit. It's the government artificially inflating the value by
legislative fiat.
*That's* the "value added" part. ;-)
(To make matters worse, in some cases, the Feds actually calculate the GST here
in Canada *after* provincial or other taxes are added first, thus inflating the
value of the GST beyond its legislated 7%!)
Garth
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