very rich while ultimately leaving thousands in ruin. The business culture at Enron was about what you would expect from any large‚ successful‚ corporation. It was highly a competitive‚ cut-throat culture that created an environment where workers would do almost anything in order to thrive. Charles Wickman‚ a former Enron employee‚ was quoted as saying‚ “If I’m on the way to my boss’s office‚ talking about my compensation‚ and I step on somebody’s throat on the way and that doubles it‚ well I’ll
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DQ 1 Why is tax minimization different from efficient tax planning? Effective tax planning involves considering the role of taxes when implementing the decision rule of maximizing after-tax returns. Tax-minimization does not aim to maximize after-tax returns‚ so it may be undesirable. Tax minimization can introduce significant costs along nontax dimensions. Tax minimization may not consider risks and costs‚ so may not catch the some profitable chances. But‚ effective tax planning always consider
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Tax & Taxation The term ’tax’ has been derived from the French word taxe and etymologically‚ the Latin word taxare is related to the term ’tax’‚ which means ’to charge’. Tax is an obligatory payment in the part of the citizen without the expectation of any direct benefit. Taxation is the obligation of non-penal‚ yet compulsory transfer of resources from the private to the public sector levied on a basis of predetermined criteria and without reference to specific benefit received. It is one of the
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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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VANITY IS MY FAVOURITE SIN When you are vain‚ you love yourself. It is nothing wrong with that so as long as you keep it normal‚ it is certainly not a sin‚ but the phrase »Vanity is my favorite sin« refers to whole new level of vanity where the person loves himself and puts so much effort on his appearance and outer look it begins to bother other people. Vain person is making a sin because he is making a huge waste of time making himself look better and better while he ignores other more pressing
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FEATURES OF SERVICE TAX 1. Scope: It is leviable on taxable services ‘provided’ or ‘to be provided’ by a service provider. The services ‘to be provided’ in future are taxed only if payment in its respect is received in advance. Two separate persons required Payment to employees not covered: For charge of service tax‚ it is necessary that the service provider and service recipient should be two separate persons acting on ‘principal to principal basis’. Services provided by an employee to
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mockingbird symbolizes innocence because they do no harm‚ just like people who have done no wrong. This is why it’s a sin to kill one because it’s a sin to hurt an innocent person. Like i said‚ the mockingbird symbolizes innocence. A mockingbird symbolizes innocence because they do no harm‚ just like people who have done no wrong. This is why it’s a sin to kill one because it’s a sin to hurt an innocent person. People like Boo Radley do things for people and do not expect a reward. Boo is an example
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The Proposed Soda Tax: The Poor and Middle Class Pay the Price Why must the poor and middle class suffer whenever money is needed to fund some programs or fix the deficit? People are stripped to the bone already‚ what with the Enron scandal and Bernie Madoff making off with millions of citizens savings. Now the poor and middle class people of this great nation are being called upon once again‚ to give more of the nothing that they already don’t have for a Soda Tax. A tax that health officials
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taken by the beneficiaries. In the tax of tax fraud the bond referred to here are actually non-existent and are never enforceable in the tax authorities decide to exercise the right to take the bond such as failure to pay an installment on a tax deficiency or tax return. Another criminal offense is the declaration that there are already permits that the taxpayer has procured from the local government and the cost of such permits is deducted in the income tax return as an
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TAXATION MODULE What is tax? Why tax is levied? In Indian economy‚ the Government plays crucial role by making heavy investments/expenditure on core areas like heavy industries‚ infrastructure‚ defence‚ internal security‚ education‚ poverty alleviation‚ employment generation‚ health etc. For this purpose‚ the Government raises funds by levying various taxes‐ direct and indirect‚ other receipts and also borrows from the market. Different types of tax: For the above
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