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VATupdate Newsletter Week 33 2022

VAT is the best tax there is for governments. It’s easy for them to collect, as they hardly have to do anything: companies are collecting the tax for them. And it’s easy to impose, because 1 or 2 percent extra is not a lot, and acceptable for consumers.

OK, that last part is not always true, and especially nowadays, people will complain and even protest if a VAT rate is increased. Still, governments like the idea of increasing their income by making taxes ‘VATier’.

‘VATier’ isn’t an existing word. You have to be careful by making up such words. Of course what I mean is that there’s a global trend of making taxes more like a VAT, an indirect tax. That trend is not new, it’s going on for some decades already.

But back to making up words: that’s how the dinosaurs got extinguished. As the following joke confirms:


“3 dinosaurs walk up to a shiny lamp. One of them rubs it, and a mystical blue genie flies out of it!
"Hello! I am genie! Since there are 3 of you, you each get 1 wish!

"I wish for a large piece of meat!" The first dinosaur said.
And so a large slab of meat materialized before his eyes and plopped down in front of him!

"I wish for a meat shower!" The second dinosaur said.
And so the genie made all different sorts of meats from different animals rain from a small cloud above the dinosaur's head.
Not wanting to be outdone by his friends the third dinosaur quickly tries to think of something better.

"I wish for a meatier shower!"

And that was the end of it.

But not the end of VAT. We will not be getting rid of that for a very long time! And you can read all about it on our website.

 If you have any comments, questions, or ideas that you want to share with us, please send us an email at [email protected] or leave a comment under the posts of this newsletter on LinkedIn.


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