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Value added tax
- Author: United Nations
- Main Title: United Nations Handbook on Selected Issues for Taxation of the Extractive Industries by Developing Countries , pp 437-473
- Publication Date: February 2019
- DOI: https://doi.org/10.18356/e1a41f78-en
- Language: English
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In the tax structure surrounding investment in the oil, gas and mining sectors, not enough systematic attention has been paid to the role of broad-based consumption taxes and their impact on the extractives industries. The value added tax (VAT) also commonly referred to as the goods and services tax (GST) is the broad-based consumption tax of choice in more than 160 countries worldwide, including those countries with large extractive industries. Ideally, VAT should not operate differently for extractive industries as compared to any other industry. Developing countries with limited administrative capacity may however experience challenges in following this ideal, and may consider or have already implemented, alternative policy or administrative measures.
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