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Opportunity in financial crisis
 
Financial regulators were not equipped to see the risk concentrations and flawed incentives behind the financial innovation boom. Neither market discipline nor regulation were able to contain the risks resulting from rapid innovation and increased leverage, which had been building for years. Policymakers failed to sufficiently take into account growing macroeconomic imbalances that contributed to the buildup of systemic risks in the financial system and in housing markets.
 
May 27, 2012 - khaleejtimes.com
Opportunity in financial crisis
R. Seetharaman
 
  Value Added Tax (VAT) is a kind of tax levied on sale of goods and services when these commodities are ultimately sold to the consumer. VAT is an integral part of the GDP of any country.   While VAT is levied on sale of goods and services and is paid by producers to the government, the actual tax is levied from customers or end users who purchase these goods and services. Thus, it is an indirect form of tax which is paid to the government by customers via producers of goods and services.   VAT is a multi-stage tax which is levied at each step of production of goods and services which involves sale/purchase. It is levied on the ‘Value Added’ in each stage of ‘production or supply chain’. Any person earning an annual turnover by supplying goods and services above the exempted limit is liable to register for VAT. VAT is levied both on local as well as imported goods (at the point of sale). Ultimate consumers generally bear the VAT cost while Businesses collect and account for the tax, in a way acting as a tax collector on behalf of the government.
 
 
 
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