TAX REFORMS IN INDIA * About :- Tax reform is the process of changing the way taxes are collected or managed by the government. Tax reformers have different goals. Some seek to reduce the level of taxation of all people by the government. Some seek to make the tax system more progressive or less progressive. Others seek to simplify the tax system and make the system more understandable‚ or more accountable . Numerous organizations have
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Congress may not tax exports (Art. I Sec. 9)‚ (2) indirect taxes may not discriminate among the states (Art. I Sec. 8)‚ and (3) direct taxes must be levied in such a way that each state’s proportion of the total revenue produced by the tax is the same as each state’s proportion of the total population of the nation (Art. I Sec. 2) The “obesity mitigation fee” (OMF) does not trigger the explicit limits of the taxing power. The OMF is an indirect tax since it is triggered by the specific circumstances
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is‚ in effect‚ a subsidy for intermediate input use. Producers may substitute intermediates for primary factors (land‚ labor and capital)‚ affecting the return to factors and income distribution. Another concern is that the VAT‚ because it is an indirect tax that works through the price system‚ puts a larger burden of the tax on low-income households. VAT CONCEPTS Zero-rated items | Zero-rated items are goods or services which are taxed at a rate of 0%‚ e.g. milk‚ brown bread‚ maize‚ fruit
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Commerce Lab - Practical Question Bank FACULTY OF COMMERCE‚ OSMANIA UNIVERSITY ----------------------------------------------------------------------------------------------------B.Com (All Streams) III Year BUSINESS LAW Time: 60 Minutes Record : 10 Skill Test : 20 Total Marks : 30 1. What is the difference between an agreement of a house property and a Sale Deed? 2. Draft a model Agreement for the sale of a plot of 200 sq.yards with imaginary particulars. 3. Draft a Sale Deed of a 2
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I feel the Affordable Healthcare Act hurts us Americans more than helping us. I believe that with the way our economy is struggling that adding another $940 billion into our defecit is harmful. With this Affordable Healthcare Act in place our taxes will rise. When many Americans are having a hard time making ends meet raising taxes is the last thing we need. The money that is saved not paying taxes can go back into the economy. I know personally when I have extra money it is often spent rather
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ICWAI Objective Type questions and Answers on Indirect Tax 1. Multiple Choice Questions (1) Excise duty can be levied on those goods which are a) Manufactured in India b) Sold in India a) Removed from the factory b) None of the above (2) Dutiable goods means a) Goods are subject to Central Excise duty b) Goods which are exempted from excise duty c) Non excisable goods d) Goods not at all mentioned in the Central Excise Tariff (3) Place of Removal under Central Excise means
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My reaction in syntax law ‚I`am so happy when the syntax law is now on the law that many people will minimize their(bisyo)The Recto bill was not well-received by the various sectors championing sin tax reform as it sought to retain the multitiered system and increase excise tax collection from tobacco and alcohol products by only P15 billion to P20 billion in the first year of implementation. This is significantly lower than the P31.35 billion that House Bill 5727‚ already passed on third reading
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I would like to thank the European Chamber of Commerce in the Philippines‚ the ECCP‚ for inviting me to share my thought on the topic: “Analysis of the Health and Economic Implication of the Excise Tax on Sugar-Sweetened Beverages.” This occasion‚ I may say‚ is somehow a relief from the heavy emotion‚ grief‚ and indignation that engulfed the whole nation these past few days or so because of disturbing events. I’m sure you know what I mean. At the onset‚ I would like to point out that I support the
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Added Tax is a replacement of the existing sale’s Tax‚ which has been in operation under Federal Government Legislated Degree N0. 7 of 1986. In some advanced countries of the world‚ this system of taxation had been in operation and its enormous benefits being harvested. These countries are United States of America Britain‚ China and a host of others. Nigeria on her own wants to take the bull by the horn by introducing value added tax like other benefiting countries earlier mentioned above despite
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In todays society‚ its a crime to be honest. In the old days‚ you could just tell it like it was‚ and if people got mad‚ so be it. But now‚ make a comment about soemthing or someone you did not or dont like‚ it immediately becomes a war of the words. We know discrimination‚ like we know the back of our hands. Our society has become a burger king society‚ we want it our way and want it now. So the question I came upon‚ concerning what would would be the economic impact of of legalizing Recreational
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