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Is there a name for a consumption tax that basically captures the GDP (all goods and services produced in the nation)?

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Value-Added Taxes (VAT) are supposed to capture most goods and services produced in the private sector, but there can be exceptions within a country’s laws.

Even if the exceptions were eliminated, there are some non-market components to GDP that would be missed (e.g. imputed values, like the “rental value of owner-occupied housing”). (You need to go into each country’s GDP definition to find the list of imputations.)

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  • $\begingroup$ Can you clarify the "non-market" components of GDP that would be missed? $\endgroup$ – Jneedler Jun 30 at 23:27
  • $\begingroup$ Imputed values, like the value of free chequing accounts. Imputations vary from country to country, so you need to go to the national statistical agency for details. $\endgroup$ – Brian Romanchuk Jul 1 at 23:52

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