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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Basics of Direct Taxes(Income Tax Act) and Indirect Taxes(VAT‚ CST‚ Excise duty‚ Service Tax etc.‚) The Persons who are taxed are called “Assessees”. Assessees or “Person” under the Income Tax Act‚ 1961(as amended Yearly under the respective Finance Acts) are as follows:- 1) Individual 2) Hindu Undivided Family(HUF) 3) Firm or Association of Persons(AOP) 4) Joint Stock Company 5) Every other person Whether an Assessee is liable to be taxed and if so‚ on what income etc.‚ depends on the
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Direct Taxes: A Direct tax is a kind of charge‚ which is imposed directly on the taxpayer and paid directly to the government by the persons (juristic or natural) on whom it is imposed. A direct tax is one that cannot be shifted by the taxpayer to someone else. The some important direct taxes imposed in India are as under: Income Tax: Income Tax Act‚ 1961 imposes tax on the income of the individuals or Hindu undivided families or firms or co-operative societies (other tan companies) and trusts
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Lecture 1 Indirect Taxation 2012 Dr Nakha Ratnam Somasundaram Advanced Taxation 1 Indirect taxation 2012 Dr Nakha Ratnam Somasundaram - Advanced Taxation 2 Indirect taxation • Indirect taxes consists of the following taxes: – – – – Sales tax Service tax Excise duty Customs duty • These taxes are collected by the Director General of the Royal Malaysian Customs. 2012 Dr Nakha Ratnam Somasundaram - Advanced Taxation 3 ROYAL MALAYSIAN CUSTOMS: HTTP://WWW.CUSTOMS.GOV.MY INDIRECT TAXATION
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Nigeria Introduction Value Added Tax (VAT) was introduced in Nigeria in 1993 but became effective on 1 January 1994. VAT replaced the Sales Tax. VAT is governed by the Value Added Tax Act‚ Chapter V1‚ Laws of the Federation of Nigeria (LFN) 2004. The tax is administered by the Federal Inland Revenue Service (FIRS). Rates and scope Rates The standard VAT rate on goods and services is 5%. Value for VAT purposes includes customs duties‚ taxes‚ commission‚ transport‚ insurance and other charges
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EXPPRIN Understanding International Trade Theories Agenda – Week 1 International Trade Classical Trade Theories Modern Trade Theories Trade Barriers Balance of Payment Incoterms 2 What is International Trade? International Trade • International trade is the exchange of capital‚ goods‚ and services across international borders or territories. • This type of trade gives rise to a world economy‚ in which prices‚ or supply and demand‚ affect and are affected by
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foreign market. There are six methods of entering a foreign market; exporting‚ licensing‚ franchising‚ joint ventures‚ turnkey projects‚ and wholly owned subsidiaries. Exporting is becoming increasingly popular especially for small businesses because of modern communication‚ transportation technologies‚ and gradual decline in trade barriers. The international market is normally so much larger than the firm ’s domestic market that exporting is nearly always a way to increase the revenue and profit base
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Contents Page ABOUT OS SOLUTIONS OS Solutions is an Australian company with its headquarters based in Brisbane‚ Queensland. As an international company‚ OS Solutions prides itself by helping its clients build healthy business partnerships and relationships. Services provided by the company always contain accurate information that will help benefit companies business dealings and reputation. OS Solutions specializes in researching countries for our clients and making recommendations
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Exporting Democracy Democracy is a system of government based on the idea that citizens should play an influential role in the actions and decisions it makes for its people. This is usually done through elections to assign public officials who represent their views on political issues. These ideas and values of democracy have proved to be an extremely important aspect of American life. While the United States had found it successful to operate its government based on these rules and ideas‚ other
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0 results (0.37 seconds) Scholarly articles for rural and urban settlements differences … intolerance in Asian Indians: urban-rural difference … - Ramachandran - Cited by 289 Ecosystem structure and function along urban-rural … - McDonnell - Cited by 726 … wage differentials between urban residents and rural … - Meng - Cited by 329 Search Results Difference between Urban and Rural www.differencebetween.info/difference-between-urban-and-rural Dec 16‚ 2013 - Human settlement areas are
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