WHAT IS TAX PLANNING ? Tax planning is an essential part of your financial planning. Efficient tax planning enables you to reduce your tax liability to the minimum. This is done by legitimately taking advantage of all tax exemptions‚ deductions rebates and allowances while ensuring that your investments are in line with your long term goals. Tax-planning amounts to making investments or contributions in line with prescribed guidelines that lead to reduction in tax liability. Simply put‚ the tax liability
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Table 1a Annex Table 1b Annex Table 2 67 69 73 78 iii List of Tables Page Table 1: Table 2: Table 3: Table 4: Table 5: Table 6: Table 7: Table 8: Table 9: Table 10: Table 11: Table 12: South-South Exports 2005 Economic Structure of East African Countries Market size indicators Access to telecommunication services Eligibility for EU and USA GSP access Summary of MFN applied tariffs rates MFN applied duty rates by product group Frequency distribution Share of duty free imports in each product category
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Service Tax Service Tax is a form of indirect tax imposed on specified services called "taxable services". Service tax cannot be levied on any service which is not included in the list of taxable services. Over the past few years‚ service tax been expanded to cover new services. The objective behind levying service tax is to reduce the degree of intensity of taxation on manufacturing and trade without forcing the government to compromise on the revenue needs. The intention of the government
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always fascinating to get income tax refund faster but it all depends on the method you prefer to get your IRS refund. Suppose the tax you owe is something less than the sum of the total amount of refundable tax credits claimed and the total amount of withholding paid‚ then you are more likely to avail the benefits of getting federal income tax refund.Some taxpayers prefer to obtain federal tax refund through Earned Income credit which is a real refund of overpayment of tax or through previous year’s overpayment
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EXEMPTIONS/AMENDMENTS IN/WITHDRAWAL OF EXISTING EXEMPTIONS Rate of service tax restored to 12% As per section 66‚ the charging section under earlier regime‚ rate of service tax was 12% of the value of taxable services. However‚ the rate of service tax was reduced to 10% vide Notification No. 8/2009 ST dated 24.02.2009. With effect from 01.04.2012‚ Notification No. 02/2012-ST dated 17.03.2012 rescinded the said notification and the rate of service tax was restored to 12% for the period between 01.04.2012 to 30.06
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3 DEALERS UNDER MVAT‚ 2002 6 4 INCIDENCE AND LEVY OF TAX 10 5 REGISTRATION 12 6 RATE FOR TAX APPLICABLE TO DEALERS 16 7 FILING OF RETURNS AND PAYMENT OF TAXES 17 8 RETURN FORMS AND PAYMENT OF TAX 19 9 REVISED RETURNS 20 10 TAX INVOICE 26 11 BIBLIOGRAPHY 28 INTRODUCTION ON MVAT This Act may be called the Maharashtra Value Added Tax Act‚ 2002. Maharashtra Value Added Tax (Levy and Amendment) Act‚ 2005. The system of Value Added Tax (VAT) has been implemented‚ in the State of Maharashtra
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November 16‚ 2012 TAX FILE MEMORANDUM FROM SUBJECT Peaceful Pastures Funeral Home‚ INC. taxpayer engagement. FACT Peaceful Pastures Funeral Home‚ INC (“Peaceful”) has designed an approach that allows customers to prepay for their funeral goods and services. Under this program‚ the customer pays in advance for the goods and services that will be provided at the time of their death‚ often at a significant discount. Under the terms of the contract‚ the payments are refundable at the contract purchaser’s
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relevance of Adam’s Smith canons and justify what other attributes I believe a good tax system should have. Formally‚ tax is defined as an involuntary fee enforced by the government in order to finance its activities. However‚ some perceive tax as the price we pay to live in a civilised society and it is a fundamental part of any developed economy. (Oliver Wendell Holmes) From my point of view‚ the purpose of tax is to fund the government‚ incentivise certain behaviour in order to achieve economic
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073 cigarette sticks are consumed by Filipinos annually. This high consumption rate is seen as a result of low cigarette prices in the country. Smoking is seen as one of the primary factors responsible for 71 percent of lung cancer deaths in the world. According to DOH statistics‚ lung cancer is the leading form of cancer in the country‚ and that 10 Filipinos die every hour because of smoking. DOH also states that a 10 percent increase in tobacco taxes will reduce the number of smokers‚ which in turn
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Executive Summary The purpose of this report was to analyze the ’alcopops’ tax with related economic theory and outline the main issue and identify the key stakeholders. Also‚ the report will provide solutions and alternate recommendations. This report is based on news article provided from teachers which are about ’alcopops’ tax. Findings portray that alcopops are especially popular among teenagers and the imposition of the tax is not effective for young people due to they can find other sustitubes
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