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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ACROPOLIS INSTITUTE OF TECHNOLOGY AND RESEARCH‚ INDORE Faculty of Management Studies Major Research Project On “To Study Salaried Employees Perception Towards Tax Saving Schemes” Dissertation submitted in partial fulfillment of the requirement for the degree of Master of Business Administration (2009 – 2011) Submitted To: Submitted By: Prof. Prerna Sharma
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A tax haven is a state‚ country or territory where certain taxes are levied at a low rate or not at all.Individuals and/or corporate entities can find it attractive to establish shell subsidiaries or move themselves to areas with reduced or nil taxation levels relative to typical international taxation. This creates a situation of tax competition among governments. Different jurisdictions tend to be havens for different types of taxes‚ and for different categories of people and/or companies.States
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property‚ income and even it may be required to pay at the time of manufacturing and selling or purchasing a commodity. Tax constitute the major source of the government’s income Meaning of Tax The tax is compulsory payment to the Government by taxpayer without any expectation of some specified return. While paying tax‚ the tax-payer is not entitled to force the government to give something in return of the sum he has paid as tax. Characteristics of a Tax A compulsory payment: - Tax is not
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Topic Outline Effects of Sin Tax Law to Selected Bar Establishments in Dumaguete City Thesis: Although the sin tax law helps the country’s economy by raising the governments collected revenue which accounts for public use‚ it also results bar owners to eventually lay off workers to the extent of closing their business due to higher tax collection and sudden reduction of consumers. Introduction I. Sin Tax A. Definition B. History II. Effects of sin tax in the Economy A. Decrease consumers
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Tax avoidance is the legal usage of the tax regime to one’s own advantage‚ to reduce the amount of tax that is payable by means that are within the law. Tax sheltering is very similar‚ and tax havens are jurisdictions which facilitate reduced taxes. The term tax mitigation is sometimes used; its original use was by tax advisers as an alternative to the pejorative term tax evasion. "Tax aggressive" strategies fall into the grey area between commonplace and well-accepted tax avoidance (such as purchasing
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Summer Training Report On “Tax Deduction At Source” Submitted In Partial Fulfillment Of The Degree Of “Masters of Business Administration” By GOURAV GUPTA MBA (2010 – 12) Roll No.50-MBA-10 THE BUSINESS SCHOOL UNIVERSITY OF JAMMU KATHUA CAMPUS CERTIFICATE This is to certify that Gourav Gupta ‚ student of M.B.A – III Semester‚ Roll no. 50-MBA-10 is a bonafide student of this institute. He has completed the project report on the topic “Tax Deduction At Source” under
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Introduction Tax in simple terms refers to the government raising money to spend on public services which includes health and social security system and education. Tax levied on a number of goods and services in the form of Value Added Tax (VAT)‚ such as income tax on the money we earn. Tax can also be imposed on various transactions i.e. inheritance and profits from selling homes or antiques. The tax system is a complicated procedure. The purpose of task A is to provide features of the UK tax system
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Smokers and the tax The fallacy in the proposed higher tax on cigarettes is the belief that the number of smokers will be reduced if the price of the smoke goes up beyond their reach. This may well be true if there were no cheaper and better-tasting substitutes which are taxed. However‚ there are a lot of reasons for smokers should pay a health tax. First‚ smoking is unhealthy. Therefore‚ people should care about themselves and think about other people around them. Smoking cause a lot of diseases
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of the total marks for this course General Instructions * This exercise will be completed individually. * You will be required to prepare a 1‚500 word (± 10%) research report Research Topic The introduction of a carbon tax in Australia would have implications for economic and environmental sustainability. Obviously in the longer term the aim of the tax is to promote environmental sustainability but in the short term there will be implications for economic sustainability for a range
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