CHAPTER 3: GROSS ESTATE DETERMINATION & EVALUATION OF GROSS ESTATE -starting point in computing Philippine estate tax liability GROSS ESTATE -consists of all property owned by a decedent at the time of his death‚ including stocks‚ bonds‚ real estate‚ mortgages & any other property that technically belonged to him -it shall not include the exclusive properties of the surviving spouse -property is called gross estate because it is to be reduced by decedent’s debts (including taxes)‚ funeral expenses
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Parliamentary sovereignty is a principle of the UK constitution. Parliament sovereignty is the central element of the British constitution and it is impossible to understand the nature and system of the constitution without an increase of this principle. In fact‚ this doctrine sets the British constitution apart from the massive majority of other democratic states. In the United Kingdom the Queen in Parliament can pass any law and the legislation is enacted is not issued to judicial review by the
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Differences between Parliamentary system and Presidential system [Judiciary] In relating both systems‚ parliamentary and presidential systems are currently using different judiciary system to enforce law in society. Before entering judiciary segment‚ it is essential to understand the definition of judiciary where it can be noted that:- “…Judiciary is commonly considered the third branch of government. It stabilizes the political system by solving disputes involving the country’s law…” (Barrington
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Running head: TAXATION AND PRIVE CONTROL ON THE ECONOMY Taxation and Price Control on the Economy March 22‚ 2009 Taxation‚ a system of raising money to back our government‚ in which all governments require payments of money-taxes-from people. The government use tax money to pay for expenses that are well needed such as: the service of America soldiers‚ police officers service‚ hospitals and the list go on. Without taxes to fund its endeavors‚ the government could not exist. Is the tax levied
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The Rule of Law and the Orthodox Doctrine of Parliamentary Sovereignty are constitutional concepts which were popularised by Albert Venn Dicey‚ an influential 19th century constitutional lawyer. Therefore‚ it seems only appropriate to begin this discussion with Dicey’s interpretation. In Dicey’s formulation‚ Parliamentary Sovereignty is comprised of two aspects‚ the positive and the negative. The positive side is that Parliament can ‘make or unmake any law’ and the negative aspect is that ‘no court
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The colonists strongly desired independence and separation from Britain once taxation without representation was imposed on them. The colonies struggled to earn their representation in the Parliament of their mother country. They were turned down repeatedly and this caused huge issues for the colonists; it was the complete reason for the Revolutionary War. Therefore‚ the demand for no taxation without representation was the primary force to motivate America against Britain and it was also a symbol
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TAX BRIEF IN THE MINING SECTOR OF GHANA 1.0 Introduction The mining sector is one of the major extractive industries in Ghana. It is estimated that the sector contributes about 41% of total export earnings and 5% of Ghana’s GDP. The sector is dominant with Foreign Direct Investment (“FDI”) with little local participation. 1.1 Legal Framework The Fiscal Regimes that regulate the sector in Ghana are: The Minerals and Mining Act‚ 2006 (Act 703) as amended The Internal Revenue Service Act‚2000
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Discuss whether taxation is the most effective solution to the market failures arising from negative externalities. Negative externalities are defined as‚ “[negative] third party effects arising from production and consumption of goods and services which no appropriate compensation is paid.” This means the marginal cost curve only takes into account the private costs and not the external/social costs‚ and so there is an overproduction of the good or service. This misallocation of resources means
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Democratic ideals- Taxation Nozick Because a just government cannot violate the negative rights of its citizens I negate the resolution: in matters of U.S. immigration policy restrictions on the rights of non-citizens are consistent with democratic ideals. Definitions: According to US immigration law‚ immigrants are persons lawfully admitted for permanent residence in the United States. As we are only looking toward those lawfully admitted we must only look legal non-citizens and illegal immigrants
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[pic] DOUBLE TAXATION RELIEF (BETWEEN THE FEDERAL REPUBLIC OF NIGERIA AND THE GOVERNMENT OF THE KINGDOM OF BELGIUM ORDER S.I. 15 1997 Commencement: 1st January‚ 1990. WHEREAS it is provided by section 45(l) of the Companies Income Tax Act‚ section 38(1) of the Personal Income Tax Act and section 61(l) of the Petroleum Profits Tax Act that if the Minister of Finance by Order declares that arrangements specified in the Order have been made with the Government of any country outside Nigeria with
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