SIN TAX (HOUSE BILL 5727) SHOULD BE LAGALIZED IN THE REPUBLIC OF PHILIPPINES (+) In partial fulfillment of the requirements Of the subject PHIN11A Submitted by: Ceejay Martinez Abby Padua Merene‚ Myka Kim Villareal‚ Peter James On October 3‚ 2012 To: Ms. Violeta Tabin PREMISES 1. Smoking cigars and drinking liquors are bad to health. 2. Number of accidents will be lessen. 3. Lessen the number of users. 4. It may cause air pollution. 5. It may stop the production of cigars and liquors
Premium Tax Cigarette Tobacco smoking
The government’s main changes to fiscal or economic policy often tend to affect my life directly. The policy that has the greatest consequence to me personally is the tax policy. For instance‚ when the government makes changes to the payroll and income tax‚ this directly affects my purchasing power and quality of life (Kraft and Furlong‚ 2015). This reality is very real for me as each paycheck I cringe at how much is taken out my check for social programs such as Social Security or Medicaid. Kraft
Premium Household income in the United States Poverty Poverty in the United States
Electronic cigarettes are modern devices that are beginning to make smoking look fashionable again. Companies of the products trick consumers by claiming the products are safe‚ and offer lower prices as a way to reel in their customers. The consumers do not know that they are falling into a marketing trap. As electronic cigarettes are becoming increasingly popular and acceptable‚ more individuals are using the devices as a substitute to traditional cigarettes. The devices are used to inhale nicotine
Premium Tobacco Tobacco smoking Nicotine
2. Why is there little tax evasion in Singapore or any other country of your choice? Is it because Singaporeans fear state punishment or because they are satisfied with the performance of the state? Or is there any other explanation? Which explanation(s) do you find most persuasive? Why? Tax evasion‚ the illegal negligence in taxpaying and misrepresentation of tax returns to reduce one’s tax liabilities‚ is at a low level in Singapore. With Singapore’s strong tax enforcement‚ Singaporeans fear
Premium Taxation Tax Tax avoidance and tax evasion
INCOME TAX NOTES Residential Status and Incidence of Tax According to Section 5 of the Income Tax Act the scope of total Income of an assessee depends on his residential status.On the basis of residential status assessee are classified under the following two categories: 1. Resident 2. Non-resident. As per as resident individuals and Hindu Undivided Families are concerned‚ they can be further divided into two categories: 1. Ordinarily Resident 2. Not ordinarily Resident. Residential
Premium Tax Tax refund Taxation in the United States
marginal tax rate is the rate of tax he/she pays on the last dollar of income earned assuming there is nothing else affecting the individual. In this question‚ Sandra has no dependants or other sources of income so there is nothing else affecting her. An effective marginal tax rate of 40% applies to Sandra. This includes the top tax rate of 30% applicable to taxable income of $56‚000 and the student loan standard rate of 10%. (A) - The 30% rate would be Sandra’s base marginal tax rate without
Premium Tax Income tax Progressive tax
Conduct Tax Audit – Part 1 Analysis of Certain Clauses Audit under Section 44AB of the Income Tax Act By Raman Jokhakar‚ Chartered Accountant Objective To understand the purposes of this Form To learn nuances of the clauses To understand audit risk To effectively carry out attestation To document adequately To disclose standard notes‚ limitations and stands To know inter links between clauses To be aware of important stands taken by Courts To understand the objective of the tax department
Premium Audit Indirect tax Value added tax
3 CHAPTER TAX DETERMINATION; PERSONAL AND DEPENDENCY EXEMPTIONS; AN OVERVIEW OF PROPERTY TRANSACTIONS Instructor: The test items in both the print Test Bank and ExamView test-creation software are numbered by question type within each chapter. Thus‚ users of ExamView can more easily preview their selections using the printed Test Bank in the same numbering system. Status: Present Topic TRUE OR FALSE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Level of current income
Premium Taxation in the United States Income tax in the United States
I. INTRODUCTION To raise revenue for tight government budgets‚ legislators sometimes attempt to raise revenue by imposing unusually high excise taxes on cigarettes‚ liquor‚ gambling‚ and so on. This type of charge‚ often called a "sin tax‚" appeals to voters who view it as a way of discouraging consumption of certain objectionable products. It reduces the income of the buyer.Lowers profits for the seller‚ and leads to reduced investment‚ wages‚ and jobs.It is not likely to seriously
Free Tax Taxation Regressive tax
Cigarette Taxes Cigarette taxation has appeared to be a disputable issue throughout American history. The beginnings of cigarette taxation can be traced back to the late 1700s when Alexander Hamilton‚ the secretary of the treasury‚ introduced the first federal excise tax on tobacco products. The government places taxes on cigarettes to reduce the number of smokers and to increase revenue. A cigarette tax‚ like any other tax‚ increases the amount of revenue the government can spend on social programs
Premium Tobacco Cigarette Nicotine