OVERVIEW OF TAXATION IN PAKISTAN TAXATION REPORT SECTION: C DATE OF SUBMISSION: NOV 6TH‚ 2012 NAMES OF GROUP MEMBERS: FIZZAH SIDDIQUI (9886) MAIMONA MOBEEN Executive summary INTRODUCTION The constitution empowers the Federal Government to collect taxes on income other than agricultural income‚ taxes on capital value‚ customs‚ excise duties and sales taxes. The Central Board of Revenue (CBR) and its subordinate departments administer the tax system
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Chapter 12 SERVICE RESPONSE LOGISTICS Prepared by Mark A. Jacobs‚ PhD ©2012 Cengage Learning. All Rights Reserved. May not be scanned‚ copied or duplicated‚ or posted to a publicly accessible website‚ in whole or in part. LEARNING OBJECTIVES You should be able to: Understand how supply chain management in services differs from supply chain management in manufacturing Define service response logistics & describe all of its elements Understand the importance of service layouts & perform a
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EXECUTIVE SUMMARY: Double taxation occurs when a taxpayer is taxed twice for the same asset or income. This happens when taxing jurisdictions overlap and a transaction‚ asset‚ or income amount is subject to taxation in both jurisdictions. When an individual must deal with double taxation‚ he or she may lose a significant portion of income. In some cases‚ this may cause the double-taxed individual to experience a lowered standard of living. Corporations deal with double taxation too‚ as a corporation
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Accounting for Foreign Currency Transactions And Hedging Foreign Exchange Risk Multiple Choice 1. A discount or premium on a forward contract is deferred and included in the measurement of the related foreign currency transaction if the contract is classified as a a. hedge of a net investment in a foreign entity. b. hedge of an exposed asset or liability position. c. hedge of an identifiable foreign currency commitment. d. contract acquired to speculate in the movement of exchange rates. 2. The discount
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Table of Contents Chapter 1 1 Theoretical considerations about 1 taxes and fees 1 1.1. General Considerations about Taxes and Fees 1 1.2. Direct taxes 3 1.2.1. Profit Taxes 4 1.2.2. Salary (payroll) taxes 6 1.2.3. Dividend taxes 7 1.2.4. Local taxes 8 1.3. Indirect taxes 9 1.3.1. Value Added Tax 11 1.3.2. Duty 13 1.3.3. Excise 14 Chapter 2 – S.C. Sarten S.R.L. 16 Company presentation 16 2.1. Short history 16 2.2. Organizational
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Taxation in India The Indian Tax Structure is quite elaborate‚ with clear distinction in authority between Central‚ State and local governments. The taxes levied by the Central government are on income (other than tax on agriculture income which would be levied by the state government)‚ customs duties‚ central excise and service tax. The State government levies Value Added Tax (VAT)‚ sales tax in states where VAT is not applied‚ stamp duty‚ state excise‚ land revenue and tax on professions. Local
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Literary Organization Chapter 12 of the Book of Revelation falls into four subsections. The first section of the chapter takes place from verses 1 to 4a. The title that best summarizes this section is ‘The Woman and the Dragon’. The first section acts as the introductory portion of the text. It establishes the setting of the beginning of the chapter‚ which takes place in heaven. It introduces the main characters of the text‚ which include the woman‚ the child and the dragon‚ otherwise known as
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Chapter 14 Commodity Taxation Reading • Essential reading – Hindriks‚ J and G.D. Myles Intermediate Public Economics. (Cambridge: MIT Press‚ 2005) Chapter 14. • Further reading – Diamond‚ P.A. and J.A. Mirrlees (1971) ‘Optimal taxation and public production 1: Production efficiency and 2: Tax rules’‚ American Economic Review‚ 61‚ 8—27 and 261—278. – Madden‚ D.‚ (1995) ‘An analysis of indirect tax reform in Ireland in the 1980s’‚ Fiscal Studies‚ 16‚ 18—37. – Murty‚ M.N. and R. Ray (1987)
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or other name."[1] Contents [hide] 1 Overview o 1.1 Tax rates 2 Purposes and effects o o 2.1 Proportional‚ progressive‚ regressive‚ and lump-sum 2.2 Direct and indirect 3 Kinds of taxes o 3.1 Taxes on income 3.1.1 Income tax 3.1.2 Capital gains tax 3.1.3 Corporate tax o o o 3.2 Social security contributions 3.3 Taxes on payroll or workforce 3.4 Taxes on property 3.4.1 Property tax 3.4.2 Inheritance tax 3.4.3 Expatriation tax 3.4.4 Transfer
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Rent: Section 4 (a) or Section (d) income? Rental income is generally assessed under Section 4(d) Rental Income of the Income Tax Act and is seen as income from investment. When rental income is assessed under section 4 (d)‚ it has to be grouped into three sources namely residential properties‚ commercial properties and vacant land. The date of commencement of renting is on the first day the property is rented out. In the event a rental loss occurs‚ it becomes a permanent loss because it cannot
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