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Moderator
Join Date: Apr 2000
Location: Auckland, New Zealand
Posts: 5,111
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VAT tax alone won't work - we have 12.5% on ALL goods and services (ok, excl financial transaction), including staples/necessities, effectively levied on consumer. By this, I mean that any individual good or service is only taxed once, in the hands of the final consumer.
This only raises about 25% of the tax base, with 65% of the tax take coming from individuals (at marginal tax rates running from 15% to 39%, and company tax at 33% - not sdouble taxed). The rest is excise tax.
Logically, the VAT would need to be HUGE to raise sufficient funds. Not 4x 12.5%, but at least 30% plus I would guess.
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1975 911S (in bits)
1969 911T (goes, but need fettling)
1973 BMW 2002tii (in bits, now with turbo)
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