corporation‚ organized and existing under and by virtue of the laws of the Philippines‚ operates a concession in Toledo City‚ Cebu. It actually used and/or consumed tax paid extra gasoline and diesel fuel for the mining operation purchased on various dates from Mobil Oil Philippines. On July 19‚ 1978 Atlas filed with the CIR a written claim for tax credit. There being no action taken on its claim for refund on July 21‚ 1978‚ petitioner filed the instant judicial claim for refund. The period of specific
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or the governments they represent. ADBI does not guarantee the accuracy of the data included in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with ADB official terms. TAX REFORM AND THE SELF ASSESSMENT 1. INTRODUCTION 1.1 BACKGROUND Malaysia is physically situated in the centre of Southeast Asia‚ with Thailand in the north‚ Singapore in the south‚ Philippines in the east and Indonesia in the west. It covers an area
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I. INTRODUCTION To raise revenue for tight government budgets‚ legislators sometimes attempt to raise revenue by imposing unusually high excise taxes on cigarettes‚ liquor‚ gambling‚ and so on. This type of charge‚ often called a "sin tax‚" appeals to voters who view it as a way of discouraging consumption of certain objectionable products. It reduces the income of the buyer.Lowers profits for the seller‚ and leads to reduced investment‚ wages‚ and jobs.It is not likely to seriously
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Value added tax (VAT) in theory avoids the cascade effect of sales tax by taxing only the value added at each stage of production. For this reason‚ throughout the world‚ VAT has been gaining favour over traditional sales taxes. In principle‚ VAT applies to all provisions of goods and services. VAT is assessed and collected on the value of goods or services that have been provided every time there is a transaction (sale/purchase). The seller charges VAT to the buyer‚ and the seller pays this VAT to
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SIN TAX (HOUSE BILL 5727) SHOULD BE LAGALIZED IN THE REPUBLIC OF PHILIPPINES (+) In partial fulfillment of the requirements Of the subject PHIN11A Submitted by: Ceejay Martinez Abby Padua Merene‚ Myka Kim Villareal‚ Peter James On October 3‚ 2012 To: Ms. Violeta Tabin PREMISES 1. Smoking cigars and drinking liquors are bad to health. 2. Number of accidents will be lessen. 3. Lessen the number of users. 4. It may cause air pollution. 5. It may stop the production of cigars and liquors
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Internet Sales Tax Internet sales tax is topic that has been under heavy debate for over a decade. The tax proposal will have an impact on not only the consumer‚ but the provider‚ supply chain‚ e-commerce‚ and the economy as a whole. The National Bureau of Economic Research found that‚ “an imposition of sales taxes could reduce online spending by as much as thirty-percent. This thirty-percent reduction could cost companies as much as 54 billion dollars in lost sales.” ("Online Retailing to
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SIN TAX BILL MANILA‚ Philippines—A “sin tax” on cigarettes and alcohol dampened the New Year party spirit when it was introduced in the Philippines Tuesday‚ as part of a government bid to boost finances. Many stores started selling tobacco and drink at inflated prices before midnight‚ ahead of the official implementation of the tax hikes on January 1‚ hitting partygoers in the pocket. Tax on cigarettes will gradually be raised to P30 ($0.72) per pack by 2017‚ roughly doubling the current price
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Channel Four News Team | Effects of Cigarette Tax In America | Cigarette Tax | | Justin Hochstetler‚ Rachel Krug‚ Robbie Mostek‚ Randi Westervelt | 12/5/2011 | | Cigarette Consumption What are the economic impacts of cigarette taxes on producers‚ consumers‚ and government in the United States? The motivation of the study is to find out whether cigarette taxes really decrease consumption. If they don’t‚ what are the possible alternative solutions to decrease consumption? Lastly
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of 20 years. 1. Assume that the before-tax required rate of return for Deer Valley is 14%. Compute the before-tax NPV of the new lift and advise the managers of Deer Valley about whether adding the lift will be a profitable investment. Show calculations to support your answer. 2. Assume that the after-tax required rate of return for Deer Valley is 8%‚ the income tax rate is 40%‚ and the MACRS recovery period is 10 years. Compute the after-tax NPV of the new lift and advise the managers
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Software Problem Answer 1-1 Comprehensive Problem 2 1040 Form Department of the Treasury—Internal Revenue Service (99) U.S. Individual Income Tax Return Last name 2011 ‚ 2011‚ ending OMB No. 1545-0074 ‚ 20 IRS Use Only—Do not write or staple in this space. * For the year Jan. 1–Dec. 31‚ 2011‚ or other tax year beginning Your first name and initial If a joint return‚ spouse’s first name and initial See separate instructions. Your social security number Spouse’s
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