distinction between tax avoidance and tax evasion from academic publications. Tax books have defined tax avoidance as “the lawful minimization of tax liability through sound financial planning techniques‚ while tax evasion is the “unlawful attempt to minimize tax liability through fraudulent techniques to circumvent or frustrate tax laws”. The consequences of either action are also clear. The former is not punishable by law while the latter is. However‚ the lines between evasion and avoidance have become blurred
Premium Tax Tax haven Tax avoidance and tax evasion
Also there are variant differences between governmental financial statements—funding constituent services—and for-profit entities with a responsibility to increase stockholder equity. The relative differences will be reviewed for the City of Topeka’s (herein referred to as City or COT) CAFR for year ending December 31st‚ 2010. Differences in governmental accounting and for-profit financial accounting auditor opinions are required for both governmental accounting and for-profit entity accounting
Premium Financial statements Balance sheet Generally Accepted Accounting Principles
If agricultural tariff and subsidies to producers were removed overnight‚ what would the impact be on the average consumer in develop nations such as the United States and the EU countries. What would be the impact on average farmer? Do you think the total benefits overweight the total costs‚ or vice versa? For decades the rich countries of the developed world have levied subsidies on their farmers typically guaranteeing them a minimum price for the products they produce. The aim has been
Premium International trade Cyprus Developed country
Executive Summary Norwegian Cruise Line (NCL) is rapidly becoming one of the best cruise lines in the industry. It has a strong financial position due to the 1Billion dollar cash equity investment made in the company by the private equity group Apollo Management. The company was started by Knut Kloster in 1966 under the name Kloster’s Rederi‚ which is one of Norway’s oldest shipping firms. This is a global company based in Miami‚ Florida but is considered a Bermuda Corporation with subsidiaries
Premium Cruise ship
2013 Case Study: Implementation One of the problem plaguing the cruise industry is lack of brand recognition. There are at least 17 different brands in the industry with very little differentiation between them. While there are different categories including contemporary‚ destination‚ premium‚ and luxury‚ there is not much to separate one brand from another in these categories. Many people will decide that they want to go on a cruise and choose one of these categories without considering what the
Premium Cruise ship Cruise line Holland America Line
large share of the industry’s output or sales‚ it is a consolidated industry. The type of competition in fragmented industries is generally very different from that in consolidated industries. A consolidated (concentrated) industry‚ like the cruise industry‚ typically has a more attractive industry structure‚ though the nature and extent of competition in consolidated industries is hard to predict. Such industries typically exhibit high entry barriers‚ differentiated products‚ established brand
Premium Brand Customer Product management
Sugar subsidy is a very sensitive issue among Malaysian nowadays. Some believe that the sugar subsidy give a lot of benefit to them. Since‚ they are enjoying the cheaper price of sugar without thinking about the consequences especially their health. Therefore‚ government should cut sugar subsidy to promote healthy living‚ to curb wastage‚ and to develop our country. Our government should end sugar subsidy to promote healthy living to all Malaysian. According to Datuk Tan Lien Hoe‚ the Domestic
Premium Malaysia Nutrition Hypertension
MBA 623 | North American Cruise Industry | Table of Contents Executive Summary 2 Cruise Industry Overview 2 Market Overview and Structure 2 Industry and Customer Segments 5 Target Market Analysis 7 Carnival Cruise Lines 7 Target Market Analysis 7 Positioning Strategy 7 Royal Caribbean Cruise Lines 8 Target Market Analysis 8 Positioning Strategy 9 Norwegian Cruise Lines 9 Target Market Analysis 10 Positioning Strategy 10 Disney Cruise Lines 11 Target Market Analysis
Premium Cruise ship Holland America Line Carnival Cruise Lines
at Farm Subsidies The current Farm Bill is set to expire in 2012 and in this climate of spending reductions and budget balancing‚ there has been a lot of talk about reducing or eliminating many farm subsidies. The purpose of this paper and my research is to see what if any impact the elimination of the commodity subsidies would have on the local farming economy. The objectives of this paper are to examine the history of farm subsidies‚ the current Farm Bill‚ various commodity subsidy programs
Premium Agriculture
16. Which of the following federal officials is a "principal" of the Joint Financial Management Improvement Program who considers and approves or disapproves accounting and reporting standards recommended by the Federal Accounting Standards Advisory Board? A. Chair of the Federal Accounting Standards Advisory Board. B. Secretary of the Interior. C. Comptroller General. D. All of the above. Content: Concept Level: Easy Wilson - Chapter 12 #16 17. FASAB has identified four major
Premium Balance sheet Financial statements Generally Accepted Accounting Principles