Reliability and relevance in gaining or producing AI => in the course of Herald Times Weekly v FCT – natural consequence of income producing activity • Taxpayer owner and publisher of an evening newspaper • Claimed deduction for damages and legal expenses to defend and sttle defamation actions • Deemed relevant – the thing which produced the assessable income was the thing which exposed the taxpayer to the liability or claim • Cannot be excluded simply because the obligation to
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the improvement of education of the UK workers. Direct taxes are taxes imposed on income‚ wealth and company profits‚ for example income tax‚ national insurance contributions and corporation tax. By using the revenue direct taxation this would allow the governments to estimate how much income tax revenue can be expected with reasonable confidence. By increasing direct taxation‚ if it’s progressive the income distribution becomes less uneven and it can reduce inflationary pressure when spending
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JOHAN DEPREZ International tax policy: recent changes and dynamics under globalization Abstract: This paper examines recent developments in international tax law and policy as part of the general dynamic of globalization. Tax policy is becoming active in the current phase of globalization‚ which involves international coordination‚ harmonization‚ and standardization. Unilateral‚ bilateral‚ and multilateral actions and policies by tax authorities‚ as well as initiatives by international bodies
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Respondent. Rafael D. Salcedo for Petitioner. The Solicitor General for Respondent. SYLLABUS 1. TAXATION; NATIONAL INTERNAL REVENUE CODE; CORPORATE INCOME TAX; ADDITIONAL TAX ON ACCUMULATED EARNINGS; EXEMPTION THEREFROM. — A prerequisite to the imposition of the tax has been that the corporation be formed or availed of for the purpose of avoiding the income tax (or surtax) on its shareholders‚ or on the shareholders of any other corporation by permitting the earnings and profits of the corporation to accumulate
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| |Income |- Source |Page 3 | | |- Residency |Page 4 | | |- Dual Residents |Page 5 | | |- Assessable Income |Page 5
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Ocean Carrier Case Study INDEX Case Background··························3 Dilemma································3 Scenarios under different tax rates and years ····························3 Alternative································5 Decision summary··························5 Appendix Ocean Carrier Case Study * Case Background Mary Linn of Ocean Carriers is evaluating the purchase of a new capesize carrier for a 3-year lease proposed by a motivated customer
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Government and International Government (e.g. European Union). The political party’s decision will affect large numbers of people and businesses. The decisions can be either positive or negative. For a business‚ a positive one could be an exemption from paying taxes‚ so increase their profit. An example of a negative one would be an increase of taxes which would mean the company’s profit would suffer. * Political stability A manifesto is the plan of a political party so that once they are elected
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federal income tax purposes‚ taxpayers must also use LIFO for fnancial reporting purposes (herein referred to as the LIFO conformity requirement). The use of LIFO for fnancial reporting purposes is not permitted under International Financial Reporting Standards as promulgated by the International Accounting Standards Board (IFRS). As a result‚ a conversion from US generally accepted accounting principles (GAAP) to IFRS likely will eliminate a taxpayer’s ability to use LIFO for federal income tax purposes
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Accounting and Auditing The profession Standards and reporting Accounting periods Accounting records 17 Taxation General Zakat Income tax Income tax rates Withholding tax Other taxes Administration of tax Dividends Supply contracts Deduction of expenses Treatment of losses Group taxation Taxation of branches of foreign companies Example : Corporate Income Tax Calculation 19 26 _______________________________________________________________________________ (ii) Dr. M. Al Amri &Co
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client whether they be the government‚ multinational companies‚ national businesses or private individuals. Sixth Edition 2012 2 CONTENTS Preface The Business Environment Finance and Investment Investment Policies and Laws The Tax
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