practical experience in different types and categories ‘Tax System’ especially Tax System of Bangladesh. During our working period‚ we tried to gather information from different sources like News Paper‚ web sites. But the NBR does not provide information in the web site directly and even it does not publish tax structure which is implemented in Bangladesh . So‚ we have taken much information about tax on the basis of our personal concept and view of Tax System of Bangladesh. To complete this report‚ we
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1. What is a progressive tax system? How does it differ from a regressive tax system? A progressive tax system is people who get paid more have to pay more money on their income taxes than someone who makes less money. These differ because a progressive tax system is when someone who makes more money has to pay mire and their taxes than someone who makes less n=money and a regressive tax system is when everybody has to pay the same amount whether or not you get paid more or less. 2. What is gross
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Tax structure of Pakistan TAX: To tax (from the Latin taxo; "I estimate") is to impose a financial charge or other levy upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state such that failure to pay is punishable by law. Some commentators have argued that "a direct tax is one that cannot be shifted by the taxpayer to someone else‚ whereas an indirect tax can be”. A income tax is a tax levied on the income of individuals or businesses (corporations
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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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ALTERNATIVE MINIMUM TAX ALTERNATIVE MINIMUM TAX The alternative minimum tax (AMT) is an income tax imposed by the United States federal government on individuals‚ corporations‚ estates and trusts. AMT is imposed at a nearly flat rate on the adjusted amount of taxable income above a certain threshold (also known as exemption). Note that this exemption is substantially higher than the exemption from regular income tax. Regular income tax is adjusted for
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is looking to solve tax related issues? Or maybe you are just an average person that has had some major financial setbacks over the past couple of years and have not been able to pay your back taxes? If any of these are the case then you should consider consulting with an experienced tax relief attorney who can help you get out of serious tax related issues. These lawyers can assist you by providing you with all of their expertise and knowledge in getting maximum possible tax relief. Most people
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By:Alexzandria Gipson Sugar ..Drinks...Tax…Should there be tax on sugary drink?There should be tax on sugary drink because it could help with health problems and it can also help save money. One reason why there should be tax on sugary drinks is because it could encourage people to be healthy.One example why there should be tax onsugary drinks is because they could help with diabetes. They would be discouraged because there would be tax. Another reason why there should be tax on sugary drinks is according
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10(34). This includes deemed dividend under sections 2(22)(a) to (d). This is because such dividend attracts dividend distribution tax @ 12.5% in the hands of the company. (2) The TDS provisions under this section are attracted only in respect of deemed dividend referred to in section 2(22)(e)‚ if such dividend exceeds Rs. 2‚500 in a year. (3) The rate of deduction of tax in respect of such dividend is 20% plus surcharge‚ if applicable‚ plus education cess. (4) Under the proviso to section 194‚
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Alternate Tax * Contributed under income tax * by vakilsearch Taxation on income is a vital source of revenue for our Government. Although Companies have to follow a mind-bogglingly complex procedure‚ the list of exemptions and deductions is long. As a result‚ a lot of Companies used these deductions and exemptions and escaped tax liability. While they enjoyed book profits as per their profit and loss accounts (and sometimes even distributed dividend)‚ tax liability as per the Income Tax Act
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Junk Food Tax The current issue of junk food consumption and the overall obesity battle in America continues to plague our nation. The suggestion to counteract this problem is the implementation of a “junk tax”. ProQuest states that‚ “’junk food tax’ refers to a tax placed upon fattening foods or beverages” (Par. 1). The intention of the tax is to minimize the consumption of unhealthy foods‚ which would expectantly lead to a healthier population. A junk food tax would also generate revenue for causes
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