Monday, December 8, 2008

The Rich Pay Alot of Taxes?

They paid 40% of their income tax.

We know from income mobility data that they are "new rich".

France's income tax - 10%-48.09% Russia's income tax - 13%

VAT stands for Value Added Tax. It is a form of tax applied during production. This tax is similiar to sales tax. VAT can be found by the credit method or subtraction method.
http://traveltax.msu.edu/vat/vat.htm