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PostPosted: Wed Jul 27, 2016 5:59 pm 
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edders23 wrote:
there was VAT or the equivalent before the EU I doubt that will change it is far too valuable a source of tax to not be

But one thing springs to mind Duty free at airports and on ferries might return 8)


I think that you will find that VAT was a condition of joining the EEC. A point that seems to have been missed by the "Outs" is that VAT is not allowed to be (generally) set below 15%. That ruling would in effect mean; no matter how wealthy a country became........they would not under EU rules be allowed to reduce it (not that they would want to), unfortunately it gives them an excuse to hide behind, as to why they cannot.

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PostPosted: Wed Jul 27, 2016 6:06 pm 
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cabby john wrote:
edders23 wrote:
there was VAT or the equivalent before the EU I doubt that will change it is far too valuable a source of tax to not be

But one thing springs to mind Duty free at airports and on ferries might return 8)


I think that you will find that VAT was a condition of joining the EEC. A point that seems to have been missed by the "Outs" is that VAT is not allowed to be (generally) set below 15%. That ruling would in effect mean; no matter how wealthy a country became........they would not under EU rules be allowed to reduce it (not that they would want to), unfortunately it gives them an excuse to hide behind, as to why they cannot.

Vat at the standard rate is a lot easier than the old purchase tax that we had to do away with in favour of VAT. Purchase tax had so many different rates. However, I am not sure that purchase tax was worked in the same way as VAT. It may have been that the only people who charged purchase tax was the end retailer and not everyone in the chain charging and reclaiming it back which is a complete ballache.

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PostPosted: Wed Jul 27, 2016 6:17 pm 
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this doesn't affect skippy anyway - Scotland will leave the UK and join Europe :lol:

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PostPosted: Wed Jul 27, 2016 9:41 pm 
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https://www.google.co.uk/webhp?sourceid ... #q=ftse100

https://www.google.co.uk/webhp?sourceid ... #q=ftse250

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PostPosted: Thu Jul 28, 2016 4:08 am 
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Blame Brexit http://www.dailymail.co.uk/news/article ... ng-EU.html


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