proposed plans where the citizens will get benefit from. Through taxation‚ manpower needed for economic development is supplied and the gains of such undertaking are expected to improve the quality of human life. The increase of population and the decrease of resources burden government with economic problem which can and shall ultimately pose danger to the peace and order condition of the community‚ country or nation. In the Philippines the tax department‚ popularly known as Bureau of Internal
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“Fat Tax” Imposing a fat tax on saturated fat‚ junk foods‚ sodas‚ etc. would be best because of many health and money related issues that it could possibly solve. A fat tax could help control many health problems the United States is facing today by giving some incentive to buy healthier foods. Taxing these certain foods may help control the way people eat and in turn change lifestyles to much healthier ones than there are now. The healthier lifestyles would help lower the amount of money spent
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MEMORANDUM To: S. Partner‚ C.P.A. From: Nicole J. Badalamenti‚ J. Accountant Date: August 27‚ 2012 Subject: Mr. B. Potato I FACTS Mr. B. Potato‚ a wealthy real estate investor‚ recently purchased a house on a parcel of land for $400‚000. The house was appraised at a value of $300‚000 and the land had an appraised value of $100‚000. Mr. Potato plans to tear down the house and replace it with a new house worth $1‚500‚000 with the intentions of living in
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Tobacco tax: good for health‚ good for government finances Tobacco use kills over 5 million people each year and is the largest single preventable cause of premature death.1 Tobacco is very costly to society through high costs to treat tobacco-induced disease or through loss of productivity as a result of the premature deaths. But governments have a tool to combat the costs of tobacco use — tobacco taxation. Higher tobacco prices decrease consumption and encourage people to quit Increasing
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Indirect Tax Indirect taxes include value added tax‚ a range of excise duties on oil‚ tobacco and alcohol and fuel duty. VAT is levied on the sale of goods by registered businesses. Businesses add VAT to the price they charge when they provide goods and services to business customers - and non-business customers. There are different VAT rates‚ depending on the goods or services that are being provided. At the moment there are three rates: standard rate – 20%‚ reduced rate - 5 %‚ zero rate -
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when in use. The company originally has three investors‚ Dawn‚ Linda and Mike with different contribution. Dawn is single with no other jobs‚ will contribute land and cash with 30% ownership interest. Linda is married‚ will contribute services with 30% interest. Mike will contribute cash and 40% ownership and he will not involve in the business. They planned to grow the business and seek more owners and capital in the future. They would borrow $800‚000 for building and $300‚000 from local bank and
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Petersan Tax Return Teri A Burris Federal Income Taxes I ACC 401 Gary Tate 1 April 2013 In order to properly prepare a tax return‚ there should be a complete list of the correct documentation in order to facilitate In this case Harold and Sarah Petersan; the forms will be a varied depending on their information. Harold and Sarah Petersan is a married couple living in California‚ with one dependant. Both husband and wife
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Tax accounting 1.461-2(c)(1) 1.461-4(d)(1) through (6) 1.461-4(e) 1.461-4(g)(1) through (7) 1.461-5 (a) through (c) Garber Abbey B [Abbey.B.Garber@IRSCOUNSEL.TREAS.GOV] Monday‚ February 04‚ 2013 11:30 PM Here are a few regulations Treas. Reg. sec. 1.461-1(a)(2)(i) Reg. sec. 1.461-1(a)(2)(ii) Reg. sec. 1.461-1(a)(3) Reg. sec. 1.461-1(c) We’ll work through these and more Thursday. Initial assignments for February 7: I.R.C. section 461 Look at Treas. Reg. Section 1.461-0
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the topic of tax fraud. We will begin by introducing the basic concepts of tax fraud. Secondly‚ this paper will also delve into some of the laws that have been passed as punishment for those parties that decide to commit tax fraud. We will also highlight some of the more current examples of tax fraud that have been committed and the details that lead to the perpetrators being caught. Lastly we will discuss the role that criminal investigators have in the realm of tax fraud. Tax fraud can be
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adopting a one-tier corporate tax system effect from 1 January 2003. In Malaysia‚ it is referred as the ‘single tier’ system. The government allowed a six-year transitional period to enable companies with unutilized dividend franking credits to pay franked dividends. From 1 January 2008‚ all resident companies in Singapore will come under the one-tier system. Meanwhile‚ other countries including Hong Kong‚ Ireland and also Malaysia are adopting the one-tier system effective from 1 January 2014. Generally
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