Tax Law Exam L. 2 Jurisdiction To Tax Basic Formula: S4-10 -Tax Payable = (Taxable Income x Tax rate) - Tax Offsets Taxable Year: 1 July – 30 June (note: s4-10 Note 1 – Commissioner may allow to adopt different period Taxable Income S4-15 – Taxable Income= Assessable Income – Deductions Assessable Income S6-1 – Assessable Income= • Ordinary Income S6-5 AND • Statutory Income s6-10 BUT NOT • Exempt Income s6-15 Deductions General Deductions -s8-1 Specific Deductions
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Corporate Tax Levies Learning Objectives After studying this chapter‚ the student should be able to: 1. Calculate the corporation’s alternative minimum tax liability (if any). 2. Determine whether a corporation is a personal holding company (PHC). 3. Calculate the corporation’s PHC tax. 4. Determine whether a corporation is liable for the accumulated earnings tax. 5. Calculate the amount of the corporation’s accumulated earnings tax.
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While evaluating Apollo Shoes‚ there are some areas of concern that are potential fraudschemes. The fraud can lead to the entire collapse/demise of the company if not corrected.These will also affect the share value and investor confidence. An overview of the process of investigation along with recommendations for the company.As with any company‚ revenue recognition is an important part of operations of a ApolloShoes. As stated in GAAP standards‚ revenue generated must be realistic and recognizable
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RATIONALE FOR STATE INTERVENTION AND PUBLIC POLICIES “Tobacco is the only industry that produces products to make huge profits and at the same time damage the health and kill their consumers.” - Margaret Chan‚ n.d. The controversial Sin Tax Bill was approved and became a law when the Philippine President‚ Benigno S. Aquino III signed the Republic Act No. 10351 on December 19‚ 2012 after the long sixteen (16) years hot debate in the Legislative branch of the Philippines. This issue has been
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violence/crime‚ 4) productivity losses‚ 5) suicide‚ 6) fires‚ and 7) accidental falls The Department of Finance (DOF) determined the flaws in the current system of taxing “sin” products‚ as detailed by the following: * Under the Prize Classification Freeze‚ old brands are taxed differently from new ones. * Because of multi-tiered tax structure‚ smokers tend to prefer cheaper cigarette brands. According to the statistics provided by the Bureau of Internal Revenue (BIR)‚ consumers downshifted
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Introducing Essential Criteria for Handling Measurement of a Ground Vehicle Ehsan G. Naeini‚ Hassan Sayyaadi2‚ Mahmoud Saadat3 1Master of Science‚ Sharif University of Technology; ehsan_naeini@alum.sharif.edu 2Proffessor Associate‚ Sharif University of Technology; sayyaadi@sharif.edu 3Proffessor Assistant‚ Sharif University of Technology; m_saadat@sharif.edu Abstract Handling behavior of a ground vehicle is one of main properties of a vehicle that play an important role in technical and
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Sound technical competence in an engineering discipline supported by degree level qualifications and demonstrated commitment to continuous learning. During my study in University 2008-2012 in China‚ I was highly capable of series of technical competence like Auto Cad‚ Solidwork‚ etc. All of those softwares were mastered through standard and systematic study and practice. As a professional engineering‚ I was responsible for each project. I can take full advantage of all of the skills that I
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Evaluating a Website for Credibility Charles B Wolfe Chamberlain College of Nursing Evaluating a Website for Credibility A search for men’s health related website conducted using the public search engine Google.com. Men’s Health Network (MHN)‚ http://www.menshealthnetwork.org‚ is a nonprofit organization reaching out to males and their families focusing on the growing health crisis that affect the premature mortality of men (Men’s Health Network‚ 2014). Approximately 50% of the population is male;
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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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humans have evolved‚ and throughout history we see evidence of how these social animals have habituated to different situations. As things got discovered and inventions were made‚ they grew civilized. Humans organized themselves and thus government system was introduced to lead the human kind forward in a systematic and democratic manner. But as time went by obstacles came‚ and undoubtedly one such obstacle is world population. Government intervention and external awareness can only help fight this
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