· Revenue declined between 2010 and 2013, but increased in 2014 to 25.9% of GDP. Tax revenue has been largely stable around 22-23% of GDP during the period under review. VAT is the main source of government revenue. Reliance on customs duties is very low (at 0.4% of GDP in 2014) and has been declining over the review period.
· Other main sources of imports include China (7.3%), Turkey (7.1%), Serbia (5.4%), CIS (3.1%), and Switzerland (3.1%). The share of imports from the EU and CIS declined over the period, while the share of imports from China, Turkey, Serbia, and Switzerland increased. Chart 1.2 Direction of merchandise trade, 2010 and 2014
· Scheme Description Developments since 2012 General Cash Accounting Scheme Allows eligible small businesses (annual sales of less than S$1 million) to account for output tax upon receipt of payment from customers, instead of at the time of supply No change Discounted Sale Price Scheme Allows dealers to charge GST on 50% of the selling price of a second-hand/used vehicle that was
· UK AND CHINA PARTNERS IN BUSINESS. Aerospace. Company NameAim Aviation (Jecco) Ltd. Company AddressBoscombe Grove Road, BOURNEMOUTH, BH1 4PD. Main Contact NameP.P.S.Forbes Esq. Main Contact Phone #44 7836 209730.
· Inflation, as measured by the retail price index (RPI), has been on a downward trajectory in recent years. After peaking at over 9% in 2011, the RPI has decreased slightly over 2% in 2013. The decline has come about due to low commodity prices as well as weak demand in the economy. Fiscal policy and debt sustainability
· Other main sources of imports include China (7.3%), Turkey (7.1%), Serbia (5.4%), CIS (3.1%), and Switzerland (3.1%). The share of imports from the EU and CIS declined over the period, while the share of imports from China, Turkey, Serbia, and Switzerland increased. Chart 1.2 Direction of merchandise trade, 2010 and 2014