You can show me all the links you want.
This is what you believe in.
This is what you believe in.
Is it time to ban cigarettes/tobacco?
- Thread starter joe-90
- Start date
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E
EddieM
It's actually about 140% tax.
Depends on how you work out the tax.
At 133.40 for a litre, 80.93 will be tax.
This means the price for the goods is 52.02.
To get to 133.40 you have to tax at 250%!
Instead the government taxes it at 250%, then works out how much the tax is.
Of that total 80.93p out of 133.40 for a litre is 60%, obviously minsters are going to tell you it's 60% tax and not 250%.
(To put it another way, if you tax a £100 item at 20% vat, its £120, but that extra £20 is 16.6% of £120 pounds
Saying fuel duty is 60% is saying that vat on a £120 item is 16.6%
Fun with numbers.)
At 133.40 for a litre, 80.93 will be tax.
This means the price for the goods is 52.02.
To get to 133.40 you have to tax at 250%!
Instead the government taxes it at 250%, then works out how much the tax is.
Of that total 80.93p out of 133.40 for a litre is 60%, obviously minsters are going to tell you it's 60% tax and not 250%.
(To put it another way, if you tax a £100 item at 20% vat, its £120, but that extra £20 is 16.6% of £120 pounds
Saying fuel duty is 60% is saying that vat on a £120 item is 16.6%
Fun with numbers.)
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