Discover and read the best of Twitter Threads about #VAT

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.@ATAFtax launches 2018 African Tax Outlook. #ATAFNexus2018
Average #tax to GDP ratio for #Africa was 16.2% in 2016 compared to the 34.3% @OECD average and 22.8% in Latin America.
#VAT was the highest contributor to #tax revenue in all countries. Personal income tax came second (lower in ECOWAS at 13% compared to 23% in SADC and EAC).
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I did a quick explainer for @prospect_uk on how #Brexit may affect #VAT, both domestically and in relation to EU-UK trade. Quick thread on some of the key points: prospectmagazine.co.uk/economics-and-…
1/ The UK, like all other EU member states, currently is part of the common EU VAT area. While the EU does not prescribe exact VAT rates, it put in place certain guidelines, e.g. a minimum standard rate of 15%, or limits on granting of reduced rates and exemptions.
2/ Leaving the EU presumably means leaving its VAT area (Monaco currently only non-EU state that is a member). This would have a range of serious implications, both positive and negative.

(Though some trade experts expect EU would offer UK continued membership, if asked.)
Read 10 tweets

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