Social Sciences
4 years ago

Reforming VAT System Boosts GDP Growth and Economic Equality

Lecture notes in networks and systems
Value Added Tax: Problems Affecting GDP
Irina A. Zhuravleva, Natalia A. Nazarova, Larisa Petrovna Grundel

Paper Summary

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The article discusses how value added tax affects a country's economy, specifically its gross domestic product. By analyzing VAT collection issues and proposing a new method for calculating the tax, the study shows that increasing the VAT rate can boost GDP, but only by raising prices. The tax system needs updating to be fairer and more effective in generating revenue for the government.