"Tax on Production and Imports"

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margothollick

• July 14, 2015 01:31

Hello When doing analysis of the value-added of an industry change, I came across a new subset of "value-added" which is "tax on products and imports". Is this subset of value added the same as "indirect business taxes" which was a subset of value-added when I used IMPLAN back in 2011?

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  IMPLAN Support

  • July 15, 2015 18:02

  Hi Margot! Thank you for your post. I do apologize for the confusion of the term Taxes on Production and Imports. However you are correct, this term has replaced Indirect Business Taxes. As part of the 2003 comprehensive NIPA revision, TOPI 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. (BEA) Please note that while there are 3 components of Value-Added in the BEA Benchmark I-O and GDP data series (Employee Compensation, Gross Operating Surplus, and TOPI), there are four components of Value-Added in IMPLAN because Gross Operating Surplus is broken out into its component parts of Proprietor Income and Other Property Income (OPI).

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