Taxes On Production And Imports Less Subsidies
From Open Risk Manual
Definition
Taxes On Production And Imports Less Subsidies. As part of the 2003 comprehensive NIPA revision, replaced indirect business taxes and nontax payments as one of the three components of value added. This component includes sales and excise taxes, customs duties, property taxes, motor vehicle licenses, severance taxes, other taxes, and special assessments. It excludes most nontax payments, and as the name indicates, subsidies are netted out.[1]
References
- ↑ Concepts and Methods of the US Input-Output Accounts. K.J.Horowitz, M.A.Planting, 2009
