Fringe Benefit Tax (FBT): • Fringe benefits tax (FBT) is paid on certain benefits employers provide to their employees or their employees’ associates in place of salary or wages. • Fringe: Not part of the mainstream; unconventional‚ peripheral‚ or extreme. • The FBT should be a major concern for the Vybhav Corporation when they planned to increase the fringe benefits. • Employee welfare‚ health club sports and similar facilities. 30 percent. • The employer pays the FBT but many of them recover
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EXCISE TAX ON ALCOHOL AND TOBACCO PRODUCTS BY AMENDING SECTIONS 141‚ 142‚ 143‚ 144‚ 145‚ 8‚ 131 AND 288 OF REPUBLIC ACT NO. 8424. OTHERWISE KNOWN AS THE NATIONAL INTERNAL REVENUE CODE OF 1997‚ AS AMENDED BY REPUBLIC ACT NO. 9334‚ AND FOR OTHER PURPOSES Commonly known as SIN TAX REFORM ACT OF 2012 “Stick to One” OVERVIEW Sin Tax is a tax levied on products or activities‚ which are considered sinful or harmful and considered as objects of social disapproval‚ such as liquor and tobacco. Sin tax
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Sin Tax Bill (Commentary)- This is a reaction paper on the approval of the Sin Tax Bill I am so glad of the very purpose of passing the sin tax bill which is to protect the health and save the lives of the countrymen. This simply means that the government officials are concern about the good health of all Filipinos but this doesn’t mean that I am into this bill; for some reasons that the government or most of the senate themselves failed to look unto. Firstly‚ I would like to agree with
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Pros and Cons of Sin Tax Sin tax is a tax that is applied to a product that has been deemed undesirable in the general society. An example is a tax that is applied to beer or cigarettes. These tax can be placed to raise money for a certain public amenity like a stadium‚ when raising other taxes‚ like income‚ would politically be a bad move. This kind of tax is appealing to voters who wish to get rid of the undesirable actions. What are some of the pros of imposing a sin tax? Well the first
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Marlene B. Escamillan 4E1 The impact of sin tax on the consumer’s demand for cigarettes Introduction The raise in tax is one of the most valuable gauges to lessen the utilization of a good. Just the same as other taxes‚ a sin tax is charged to lift up proceeds for government expenditures. Different from other taxes‚ a sin tax is often imposed with an intention of reducing the public’s consumption of a good. On the other hand‚ when you articulate about taxing cigars and alcoholic beverages
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William Pittman 10/14/14 Writing COMP – Han To Tax or not To Tax Two authors by the names of Paul Krugman and Fred E. Foldvary have varying opinions on the topic of taxing the rich. The debate they’re writing about is whether or not the US should increase the tax burden on the rich. Foldvary states in his “The Evil of Taxing the Rich” article that there are a lot of negative affects that would come along with taxing the rich. Mainly‚ he says the rich are paying a much larger percentage of federal
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To Tax or Not to Tax: The Problem of America Money‚ like a cookie‚ is something everybody wants‚ and when it is gone a person blames everybody else for its absence; realizing later they were the one to consume it in the first place. Taxes‚ since the beginning of an organized economy‚ have been argued over for centuries. At the end of 2012 after surviving the “end of the world‚” tax payers were faced with another apocalyptic situation‚ the Fiscal Cliff. It had the potential to raise taxes to outrageous
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Report On Tax Benefit of Debt A Case of Pakistani Firms By Mahjabeen (4426-FMS/MBA/F09) Saima Mushtaq (4370-FMS/MBA/F09) A project report submitted to the Department of Accounting & Finance‚ Faculty of Management Sciences‚ International Islamic University‚ Islamabad in partial fulfillment of the requirements for the degree of MASTER OF BUSINESS ADMINISTRATION (FINANCE) Faculty of Management Sciences International Islamic University Islamabad May 2012 A Project Report On Tax Benefit
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Benefits of Filing your Income Tax Return 1. Standard Income Proof: ITR is considered a customary income proof not only in India but also globally. If you are looking for higher education or employment abroad‚ ITR is the largely accepted income proof. 2. Speeds your loan application process: Apart from a good credit history (or past repayment track)‚ the fact that you are filing your ITR regularly gives you speedier access to credit and at better terms -- although not necessarily a larger line
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Sin Taxes There was a time when it was perfectly acceptable for parents to chain smoke in the car with their kids. In present time it is unlawful to smoke with a minor in the car. Since that time we as citizens have come a long way to making our country healthier but there is more room for improvement. Sin taxes are perceived by many people as a dreadful thing but in reality it gives the government options to help the American people as a whole. By raising Sin taxes it will offset the cost of
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