is to ensure that all taxpayers‚ within a defined tax jurisdiction‚ are brought into the tax net and assessed correctly in order to block all possible leakages. Generally‚ taxpayers are categorized according to the legal status of their businesses. In this research work we are interested in Corporate Entities/Public Companies which are limited liability companies or public companies registered with profit - motive in mind. Their tax affairs are being handled by the Federal Taxing Authority
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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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Philippines Income Tax Rates Income of residents in Philippines is taxed progressively up to 32%. Philippines Income Tax Rate 32% Philippines Corporate Tax Rate 30% Philippines Sales Tax / VAT Rate 12% Taxable Income Tax Rate PhP 0 - PhP 10‚000: - 5% PhP 10‚000 - PhP 30‚000: PhP 500 10% PhP 30‚000 - PhP 70‚000:
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Income Tax Act 1961 Assessment Year: The period of twelve months starting from April 1 of every year and ending on March 31 of the next year. Previous Year: Income earned in a year (Previous year) is taxable in the next year (Assessment Year). Income earned during the previous year (PY) 2011-12 is taxable in the Assessment year (AY) 2012-13. From the AY 1989-90 onwards‚ all assesses are required to follow the financial year April 1 to March 31 as previous year for all sources of income
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Procedure for Assessment and Collection of Tax Course: Taxation Management Semester: Summer’2010 Submitted By: Atiqua Masood Saya (8090) Preeti Adwani (7958) Shumaila meer (7583) Shafaq Zehra Rehmani (12044) Urooj Bibi (7218) Submitted To: Mr. Farrukh Ansari Submitted On: 25st July’ 2010 LETTER OF ACKNOWLEDGEMENT
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1.Introduction Small Scale Enterprises (SSEs) have played and continue to play significant roles in the growth‚ development and industrialisation of many economies the world over. In Nigeria‚ the SSEs have performed below expectation due to a combination of problems. This situation has been of great concern to the government‚ citizenry‚ practitioners‚ operators and the organised private sector groups. Small businesses are generally regarded as the driving force of economic growth‚ job creation
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Singapore Corporate Tax Guide Singapore is often cited as the leading example of countries that continues to reduce corporate income tax rates and introduce various tax incentives to attract and keep global investments. Singapore has a single-tier territorial based flat-rate corporate income tax system. Effective tax rates as one of the lowest in the world and the general “business friendliness” of Singapore are the two important factors contributing to the economic growth and foreign investment
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ASSIGNMENT on Income Tax Authorities in Bangladesh [pic] National Board of Revenue – NBR Rajashwa Bhaban Segunbagicha‚ Dhaka Telephone: +88 02 933-3444. http://www.nbr-bd.org National Board of Revenue (NBR)
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ABSTRACT This paper examines the Tax Implications of E-Commerce. The issue of e-commerce and its tax implications continues to receive a high level of attention because of the fast growth of e-commerce activities. In the emerging global economy‚ e-commerce has increasingly become a necessary component of business strategy and a strong catalyst for economic development. The integration of information and communications technology (ICT) in business has revolutionized relationships within organizations
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DEDUCTIONS - A SEC. 34. Deductions from Gross Income. - Except for taxpayers earning compensation income arising from personal services rendered under an employer-employee relationship where no deductions shall be allowed under this Section other than under subsection (M) hereof‚ in computing taxable income subject to income tax under Sections 24 (A); 25 (A); 26; 27 (A)‚ (B) and (C); and 28 (A) (1)‚ there shall be allowed the following deductions from gross income; (A) Expenses. - (1) Ordinary and Necessary
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