 Facts and figures about UK taxes, benefits and public spending.
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Type: Journal Articles Authors: Gareth Myles ISSN: Print: 0143-5671 Online: 1475-5890
Published in: Fiscal Studies, Vol. 12, No. 4, November 1991
Volume, issue, pages: Vol. 12, No. 4, pp. 56-68
The present UK tax system does not tax intermediate goods, nor does it discriminate between labour in different uses. This situation follows as a consequence of the particular structures of value added tax (VAT), income tax and National Insurance. Considerable theoretical support, with its foundations in the work of Diamond and Mirrlee (1971), has been provided for this position. Until recently this support has appeared unassailable, to the extent that Kay and King (1990) call the non-taxation of intermediate goods a 'first principle' of taxation. Search |
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