which is the first country to indroduce GST system?

3 votes
591 views
Anonymous User asked 13-Nov-2017 in Indian economy by Anonymous User
edited 04-Dec-2017 by Manish-Kumar

which is the first country to indroduce GST system?

1 Answer

0 votes
Anonymous User answered 04-Dec-2017 by Anonymous User

France was the first country which implemented GST system in the year 1954. The idea of goods and service tax was first explained by Wilhelm von Siemens who was a great businessman from German.

which is the first country to indroduce GST system?

At present time there are more than 150 countries worldwide running on this taxation system in their country.  

Currently, there are more than 40 models of active gst in different countries and recently Malaysia also joined in the list of countries which have implemented goods and service tax.

Country- Rate of GST / HST / VAT 
  • Canada - Ranges from 13% to 15%
  • France - Standard rate: 20%, Reduced rate: 5.5% & 10%
  • UK - Standard rate: 20%, Reduced rate: 5%
  • New Zealand - Peak rate: 15%
  •  Malaysia - 6%
  • Singapore - 7%
  •  India - Indicative rate ~ may range from 12% to 20%

Anonymous User commented 01-Mar-2019 by Anonymous User
Thank You for the answer.
       0