4 PRINCIPLES OF TAX INTRODUCTION TO TAX LAW A. Origins of Taxation - Taxation is not a modern concept‚ and dates back to the Roman Empire: ▪ Emperor Caligula set a disturbing trend as a tax collector by imposing taxes on food‚ court proceedings‚ wages of porters‚ prostitutes and even marriage. - 1770’s ( Pitt and Lord North believed that newspapers were luxury items and constituted appropriate fiscal targets. A stamp duty was placed on newspapers‚ which was later increased to
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A PROPOSAL ON: EFFECTIVE TAX MANAGEMENT AND LOCAL GOVERNMENT REVENUE GENERATION NAME: OKORO EMMANUEL MATRIC NO.: P/HD/10/3610072 INSTITUTION: YABA COLLEGE OF TECHNOLOGY FACULTY: MANAGEMENT AND BUSINESS STUDIES DEPARTMENT: ACCOUNTING SUPERVISOR: Dr. S. F. Akinbuli 1. Background to the Study Who would invest in a company without reliable financial statements? Integrity is the hallmark of the accounting profession and stakeholders rely on their work product. For a long time
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lawezproxy.syr.edu/app/view/tool... Checkpoint Contents Federal Library Federal Source Materials Federal Tax Decisions American Federal Tax Reports American Federal Tax Reports (Prior Years) 1983 AFTR 2d Vol. 51 51 AFTR 2d 83-1268-A - 51 AFTR 2d 83-1088 COMM. v. TUFTS‚ ET AL.‚ 51 AFTR 2d 83-1132 (103 S.Ct. 1826)‚ Code Sec(s) 752; 1001; 1012‚ (S Ct)‚ 05/02/1983 American Federal Tax Reports COMM. v. TUFTS‚ ET AL.‚ Cite as 51 AFTR 2d 83-1132 (103 S.Ct. 1826)‚ Code Sec(s) 752‚ (S Ct)‚
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Value-Added Tax is a form of sales tax. It is a tax on consumption levied on the sale‚ barter‚ exchange or lease of goods or properties and services in the Philippines and on importation of goods into the Philippines. It is an indirect tax‚ which may be shifted or passed on to the buyer‚ transferee or lessee of goods‚ properties or services. 1. What is a VAT registered individual? * Any person or entity who‚ in the course of his trade or business‚ sells‚ barters‚ exchanges‚ leases goods
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Deductions for and from AGI (LO. 1) Classify each of the following expenditures as a deduction for AGI‚ a deduction from AGI‚ or not deductible. Ignore any possible limitations. a. Sam gives $5‚000 to his father as a birthday gift. _________________ b. Sandra gives $1‚000 to her church. _________________ c. Albert pays Dr. Dafashy $500 for medical services rendered. _________________ d. Mia pays alimony of $12‚000 to Bill. _________________ e. Rex‚ who is self-employed‚ contributes $1‚000 to
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The Buffett Rule and Tax Reform As the tax cuts enacted by George W Bush during his presidency come to a close‚ the importance of reconciling spending and taxation has produced a spirited debate as to the best manner in which to solve the debt crisis. One voice in the debate is that of Warren Buffett‚ Chairman and CEO of the holding company Berkshire Hathaway and one of the richest men in the world. He has come out against the status quo tax policies‚ stating “My friends and I have been coddled
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is a carbon tax. This is "a fee intended to make users of fossil fuels pay for climate damage their fuel use imposes by releasing carbon dioxide into the atmosphere‚ and also to motivate switches to cleaner energy (What‚ 2016)". In other words‚ a short-term solution where both everyday people and large industries will have to pay to use energy sources like crude oil‚ coal‚ and natural gasses for transportation‚ household energy usage‚ and production of manufactured goods. A
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OUTCOME 1 - UK INOCME TAX SYSTEM OUTCOME 2 - PAY AS YOU EARN (PAYE) Introduction 4 Procedures 4 UK employment status 5 1. Employment status 5 2. Criteria of differentiate employment and self-employment 5 Right of Control 5 Financial Risk 6 Equipment 6 Work performance and correction 6 Holidays and sickness 6 Exclusivity 6 3. Concusions 6 UK income TAX 7 1. Taxable person 7 2. Tax year 7 3. Self assessment 7 4. Payment dates 8 5. Procedures involved in application of surcharges‚ interests and
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| Table of Contents Cost of Capital 2 Value of Equity 2 Cost of Equity 2 CAPM Model 2 Dividend Growth Model 3 Value of Debt 3 Cost of Debt 4 WACC (Weighted Average Cost of Capital) 4 Comparison to Joanna Cohen’s Analysis 4 Financial Statement Analysis 5 Nike Inc. 5 Financial Ratios 6 Leverage Ratios 6 Efficiency Ratios 6 Liquidity Ratios 7 Profitability Ratios 7 Valuation Ratios 7 Conclusion 8 Appendix A – Ratio Calculation 9 Leverage Ratios 9 Efficiency Ratios 9 Liquidity Ratios
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1) What is the economic intuition and what are the concepts underlying deferred tax accounting? What goals/objectives are standard setters trying to achieve by requiring deferred tax accounting‚ compared to say‚ just having companies recognize tax expense as the cash paid (or at least currently owed) to the government? The economic intuition of deferred tax accounting is to account for the differences between the tax expense shown in the financial statements and the current taxes payable
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