Probably a stupid question...but what (if any) is the NZ equivalent of UK's VAT (value added thievery)?
And if there is any, what rate is it running at?
Cheers
G
Probably a stupid question...but what (if any) is the NZ equivalent of UK's VAT (value added thievery)?
And if there is any, what rate is it running at?
Cheers
G
Last edited by Tech21; 25th November 2007 at 11:59 PM. Reason: Typo.
Here it is called 'Grab, Snatch and Take' or GST for short. Currently GST is at 12.5%
Thanks for that, much appreciated.
I thought there had to be one....at least it's less than the 17.5% that we are paying in the UK at present.
Cheers
Gareth
It is actually called Goods and Services Tax (GST)
It may only be 12.5% but I believe that it gets charged on more goods and services than does the UK equivalent. That said, I know that the UK government likes adding additional things that now must have VAT on them so it might now be similar?
Ian
yes GST charged on almost everything apart from financial services products and certain specialised transactions (sale of a business as a going concern) so charged on books,food,clothing,newspapers,domestic travel,health insurance (in uk all of them are either zero rated or exempt)
may well even out overall ?
(part of my job is GST returns preparation so have some 1st hand experience)
Greg
I tend to agree with Bigrod with the translation. You even pay it on food and children's clothes.