Aren't local profits taxed? | Hacker News

Hacker Newsnew | past | comments | ask | show | jobs | submit

		rapidaneurism 1 day ago \| parent \| context \| favorite \| on: The UK government's Low Value Purchase System is a... Aren't local profits taxed?

		help

em-bee 1 day ago | [–]

profits are taxed, but VAT captures turnover or revenue, not profits, otherwise if everyone spends all their profits there would be nothing left to tax.

socksy 1 day ago | [–]

Isn't that just VAT?

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact