000			01159cam a2200241 4500
001			ABS63782
008			000000n2001 000 0 eng u
035			_a(Sirsi) u111359
100			_aYerbury, P.
245			_aBoom, Boom!
260			_c2001
490			_aEstates Gazette _v(0109) 3 March 2001, 222-223(2)
520			_aLooks at the history of VAT. Originally this could not be charged on the supply of property. However, in 1977 the EC Council's Sixth Directive introduced the option to tax into the property arena. Suppliers were given the option to charge VAT in certain situations. The ruling came into effect in England in 1989, and the concept became known as the election to waive exemption. Details the basic principles of election, and describes how the main rules of election have evolved since their introduction 11 years ago. Highlights some of the problems inherent in the use and operation of the election.
590			_aABS
650			_aVALUE ADDED TAX
650			_aEC
650			_aDIRECTIVE 77/388/EEC
650			_aPROPERTY
650			_aELECTION TO WAIVE
650			_aEUROPE
690			_aTAXATION
942			_n0
999			_c66344 _d66344