The Mudcat Café TM
Thread #166577 Message #4007413
Posted By: GUEST,Observer
05-Sep-19 - 04:09 AM
Thread Name: Brexit and music
Subject: RE: Brexit and music
Mr Red if you are going to quote from my post's please do fully and accurately. Full quote is as follows:
"You only ever pay VAT once, that from experience is in the country where you have the CD's, Merchandise, etc., made."
VAT is the EU wide tax that basically pays for the EU. After leaving the EU the British Government have the following choices relating to VAT:
1. We retain it exactly as it is - no-one sees, or experiences any difference. The Government raises the money to continue paying every subsidy previously paid by the EU in addition the British Government retains what used to be our net-contribution to the EU's coffers [The UK after Germany is the largest net-contributor to the EU and has been for decades]
2. We retain VAT but reduce it, or we remove it on certain items to the extent that we can continue to pay every subsidy previously paid by the EU but there is now no additional money raised.
3. The UK can abolish VAT altogether and find other means (taxes) to subsidise whatever we want - Still less expensive than us paying into the EU.