Turnover tax refers to a tax on the gross revenue of a business, while a VAT refers to a tax levied on the difference between a commodity's price before taxes and its cost of production.

营业税指的是对一个企业营业总收入所征收的税，而增值税指的是对商品税前价格和生产成本之间的差额征收的税。

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Allow the Futures brokerage companies to deduct the brokerage commissions from its gross revenue for Business Tax calculation purpose.

准许期货经纪公司为期货交易所代收的手续费从其营业税计税营业额中扣除。

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Deducting the following fee from the gross revenue for Business Tax calculation purpose.

准许在营业税计税营业额中扣除以下代收费用。

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But obviously, a maximum rate of 25% would generate significantly less gross tax revenue than the current system, which contains a top rate of 39.6% (actually, over 44% when factoring in Obamacare and the repeal of the PEASE limitation on itemized deductions).

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What if, instead, Congress and the President agreed that the new reformed tax code should raise xx percent of Gross Domestic Product in revenue in 2022?

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Unlike the 1986 plan, which was designed to neither raise nor reduce overall tax revenue, this proposal specifically aims to increase taxes to 21 percent of Gross Domestic Product by 2022.

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