Turnover tax

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A turnover tax is similar to VAT, with the difference that it taxes intermediate and possibly capital goods. It is an indirect tax, typically on an ad valorem basis, applicable to a production process or stage. For example, when manufacturing activity is completed, a tax may be charged on some companies. Sales tax occurs when merchandise has been sold.

In South Africa, the turnover tax is a simple tax on the gross income of small businesses. Businesses that elect to pay the turnover tax are exempt from VAT. Turnover tax is at a very low rate compared to most taxes but is without any deductions.^[1]

In Ireland, turnover tax was introduced in 1963^[2] and followed by wholesale tax in 1966.^[3][4] Both were replaced in 1972 by VAT,^[5] in preparation for Ireland's accession to the European Communities, which prohibited both taxes.^[4][6]

• Cascade tax
• Goods and Services Tax
• Gross receipts tax
• Sales tax
• Turnover tax in the Soviet Union
• Value-added tax

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