Inadequate and stagnant revenue yield relative to GDP: We can see the status of the ratio of tax revenue to GDP of Bangladesh in the following table for last 7years (Source: Bangladesh Economic Review-2010). Revenue as % of GDP | 2003-04 | 2004-05 | 2005-06 | 2006-07 | 2007-08 | 2008-2009 | 2009-2010 | Total Revenue | 10.6 | 10.6 | 10.8 | 10.5 | 11.1 | 11.2 | 11.5 | Tax Revenue | 8.5 | 8.6 | 8.7 | 8.3 | 8.8 | 9.0 | 9.3 | Non-tax Revenue | 2.1 | 2.0 | 2.1 | 2.2 | 2.3 | 2.2 | 2.2 |
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ASB-3212 Taxation: 2012/13 Lecture 1 - The framework of UK taxation Lecturer: Sara Closs-Stacey FCCA CTA Email contact: abs614@bangor.ac.uk Essential text “Taxation –policy and practice 2012/13” Lymer and Oats. ACCA Paper F6 Taxation complete text FA2012 Course text can be obtained from: www.taxstudent.com ; amazon university bookshop and Kaplan publishing website. Outline of lecture Discuss historical background of taxation Main features of UK tax today Collection systems‚ legal
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Double Taxation Avoidance Agreements (DTAA) The Double Tax Avoidance Agreements (DTAA) is essentially bilateral agreements entered into between two countries‚ in our case‚ between India and another foreign state. The basic objective is to avoid‚ taxation of income in both the countries (i.e. Double taxation of same income) and to promote and foster economic trade and investment between the two countries. The advantages of DTAA are as under. ADVANTAGES AND DISADVANTAGES OF DOUBLE TAXATION AVOIDANCE
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Tax Lesson 1 – Taxation Principles – Residence and source Corporations Agenda • Residence and Source as principles of taxation • Special case 1: The Hong Kong case • Example of tax planning based on the principle of source • Special case 2: the USA case Agenda • Residence and Source as principles of taxation • Special case 1: The Hong Kong case • Example of tax planning based on the principle of source • Special case 2: the USA case Introduction • Taxation for individuals
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III. Taxation Introduction Taxation * Defined as the power of the sovereign to impose burden or charges upon persons‚ property or property rights for the use and support of government In order to enable it to discharge its function. Nature of Taxation Power * The power of taxation is both inherent and legislative in character because it has been reserved by the State for it to exercise * It is inherent because the sustenance of government requires contribution from them. *
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ACC 622 Advanced Auditing Midterm Case 4.1 1. A close friendship between an auditor and the client can jeopardize the auditor’s appearance of independence. And I think when such close relationship begins influence the auditor’s thoughts when he or she makes very important decisions‚ the independence of an auditor has been compromised. The Rule 101 – Independence says: “A member in public practice shall be independent in the performance of professional services as required by standards promulgated
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ATENEO CENTRAL BAR OPERATIONS 2007 Taxation Law SUMMER REVIEWER PART I – GENERAL PRINCIPLES TAXATION – power inherent in every sovereign State to impose a charge or burden upon persons‚ properties‚ or rights to raise revenues for the use and support of the government to enable it to discharge its appropriate functions SCOPE OF TAXATION TAXATION IS: Unlimited‚ Far-reaching‚ Plenary Comprehensive Supreme STAGES OF TAXATION: (LAP) 1. Levy 2. Assessment 3. Payment Basic Principles of a Sound Tax System
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Presidential versus parliamentary systems ILONA MÁRIA SZILÁGYI Miklós Zrínyi National Defence University‚ Budapest‚ Hungary This article is a comparison of presidential and parliamentary systems. They are the two most popular types of democratic governments. They have common and dissimilar features. In both presidential and parliamentary systems the chief executive can be removed from office by the legislature but the way of it is different. Dissimilar feature is the election of the chief
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E-COMMERCE AND TAXATION Thousands of businesses are selling goods and services through electronic commerce‚ including the Web and private electronic networks. Selling through electronic commerce is a rapidly growing channel for sales to both retail consumers and businesses. Since about one-quarter of all state and local revenue comes from sales‚ use‚ and gross receipts taxes‚ the state and local governments are eager to avoid losing any tax revenue to electronic commerce. Traditional
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COMPREHENSIVE VOLUME--CHAPTER 7--DEDUCTIONS AND LOSSES: CERTAIN BUSINESS EXPENSES AND LOSSES Student: ___________________________________________________________________________ 1. James is in the business of debt collection. He purchased a $20‚000 account receivable from Green Corporation for $15‚000. During the year‚ James collected $17‚000 in final settlement of the account. James can take a $2‚000 bad debt deduction in the current year. True False 2. If a business debt previously
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