Increases in Vat usually hit the sweet spot of tax policy – the extraction of the largest amount of money with the least amount of complaint.
Compared with an income tax increase, the general population rarely gripes about increases in Vat rates. Hiking the standard rate of Vat of 21 per cent to 23 per cent in 2012 generated hardly any noise, compared to the introduction of USC and the reduction of allowances and credits...
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