§ Mr. Nicholas BrownTo ask the Chancellor of the Exchequer what would be the estimated yield in 1993–94 of the imposition of VAT at(a) 5 per cent., (b) 17.5 per cent. and (c) 22 per cent. on (i) books, (ii) newspapers, (iii) magazines, (iv) rent and (v) fares on passenger transport.
5 per cent. 17½per cent. 22 per cent. Books 95 330 415 Newspapers 155 550 690 Magazines 65 220 275 Domestic passenger transport 330 1,150 1,445 The publication also shows the cost of net standard rating VAT exempt items. Rent on domestic dwellings is exempt and not zero rated. If the exemption were removed the estimate on the basis given above would be £2,300 million at 17.5 per cent. Equivalent calculations for 5 per cent. and 22 per cent. have not been made.
§ Mr. RedmondTo ask the Chancellor of the Exchequer what plans he has to close the loopholes for VAT liability afforded by the pre-payment of accounts.
§ Sir John CopeNone. Under both United Kingdom and EC law, VAT is chargeable at the rate in force when payment is made if that precedes the delivery of the goods or the issue of a tax invoice.
§ Mr. Nicholas BrownTo ask the Chancellor of the Exchequer if he will list the rates of VAT charged in each other EC country for(a) food in shops, (b) food in restaurants, (c) books, (d) magazines, (e) newspapers, (f) household fuel, (g) rents, (h) house purchase, (i) children's clothing, (j) community centres and (k) transport fares.
§ Sir John CopeRates of VAT charged in each other EC country for food in shops, books, magazines, newspapers, household fuel, house purchase, children's clothing and