IMF urges U.S to raise indirect taxes.

The International Monetary Fund has urged the United States to increase the indirect tax rates to boost up the revenue. As the U.S is the leading exporter of I.T services, raising the rates of the indirect taxes would increase the U.S Government’s revenue. As the exporters may get input tax credit and thus they would intern pay a higher income or corporate tax, thereby increasing the revenue. Domestic sellers (small business owners) would pay the indirect tax directly to the Government.

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Published by shreyasshamshrikant

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