Tax case: Taxes and Growth 3‚ The average growth rate of U.S. economy over time is 3.4% The trend is slightly downward. 7‚ the correlation of political party of the president and GDP growth is -0.277811979‚ which indicates a strong relation. The correlation of Top individual marginal tax rate and GDP growth is 0.218935712‚ which indicates a strong relation as well. 8‚ what I am surprised is that the top individual marginal tax rate does have a strong relation with GDP growth. Before
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fair tax: towards a modern tax system The Smith Institute The Smith Institute is an independent think tank that has been set up to look at issues which flow from the changing relationship between social values and economic imperatives. If you would like to know more about the Smith Institute please write to: Telephone +44 (0)20 7823 4240 Fax +44 (0)20 7823 4823 Email info@smith-institute.org.uk Website www.smith-institute.org.uk fair tax: towards a modern tax system The Director
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SIN TAX MANILA‚ Philippines – President Benigno Aquino III signed the Sin Tax reform bill into law Thursday‚ saying it was an early Christmas gift for Filipinos. “Today we sign‚ finally‚ a law that will serve as an early Christmas gift for millions of Filipinos‚” Aquino said in Filipino. “We aim to make health benefits available for all‚ regardless of wealth‚ the life of Filipinos is sacred‚” he said. The Sin Tax Bill aims to raise additional revenues by increasing taxes in so called “sin products”
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Adam TAX Tax is a fee charged by the government on a product‚ income activity. Unlike most transfers wich are voluntary‚ taxes are mandatory. It is mandatory because no one would have injective to contribute. The verb to "tax" appears in English usage as early as ca.1290. The word comes from the olde french "taxe" which is after the Latin "taxere". The noun "tax" appears in English sometime before 1327. Taxes can be divided to: - Direct - Indirect If tax is charged
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Ronice M. Bruce Week 3_Course Project A - CASE STUDY ACCT 505- Prof Main January 26‚ 2013 Springfield Express is a luxury passenger carrier in Texas. All seats are first class‚ and the following data are available: Number of seats per passenger train car 90 Average load factor (percentage of seats filled) 70% Average full passenger fare $160 Average variable cost per passenger $70 Fixed operating cost per month $3‚150‚000 a. What is the break-even point in passengers and revenues
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Goods and Services Tax- Australia To uphold a country’s political and economical stability‚ governments often implement policies. There are many different types of policies that a government would implement to stabilize their country. However‚ one significant policy that almost every country uses is tax. In particular‚ Australia and Canada use a value added tax known as the Goods and Services Tax (GST). Australia’s GST policy was introduced by the Howard government and went into effect on July
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pressure. So‚ the health experts discovered a way to prevent people from eating foods that might have negative effects on their health. It is a new kind of tax that is called ‘fat tax’‚ according to which consumers are called to pay a small amount of money‚ every time something unhealthy is purchased. In my opinion‚ the aforementioned tax should l save a lot of people’s lives and pockets. People need to be discouraged from eating foods that will make them sick and cause numerous problems to them
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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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As the end of the year 2012 approached‚ the passing of the Sin Tax Bill grew into being the “talk of the town” – or perhaps‚ of the entire country. On the 20th of December of the same year‚ President Noynoy Aquino finally signed Republic Act No. 10351‚ better known as the Sin Tax Reform Act of 2012 which was implemented on January of the year 2013.The sin tax law is expected to raise 30 billion pesos ($750 million) which will be used for the health care services for over 5 million poor families just
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Chapter 6 Tax matters 1、 Why have tax? The Collins Concise English Dictionary (1992. P 1383) defines the word “tax” as: “a compulsory financial contribution imposed by a government to raise revenue‚ levied on income or property‚ on the prices of goods and services‚ etc. and to levy a tax on (persons‚ companies‚ etc.)” (Clinton Alley‚ 2008). there are several reasons can explain the existence of tax: The main function of taxation is the fiscal one. It is through fiscality that taxes play their
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