Number (DLN): ______________________ Batch Control Sheet (BCS) No./Item No.: ________________________ Republika ng Pilipinas Kagawaran ng Pananalapi BIR Form No. AnnualForIncome Tax Return Individuals Earning Purely Compensation Income Kawanihan ng Rentas Internas 1700 (Including Non-Business/Non-Profession Income) All information must be written in CAPITAL LETTERS. Fill in all blank spaces. Shade all applicable circles. 1 For the year 2 Amended Return? (YYYY) Part 1 Yes 5 Taxpayer Identification
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regime to full dividend imputation. Corporate income is now only taxed once rather than at both the corporate and shareholder level. Concurrently‚ the New Zealand tax code was revised‚ reducing the top personal and corporate income tax rates to 33 percent while standardizing the amount of tax paid on goods and services. The New Zealand government specified several goals for the new program. A primary objective was to reduce `the influence of the tax system on firms ’ financial policy and investment
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Ramalinga Raju The man behind the rise and fall of SATYAM’s success Presented By: 11/18/2014 Students of MSc. Financial and Managerial Accounting • Sonia Saher • Mohammad Waqas • Lu Tran Diem Trinh • Xin Wang 2 Roadmap: Introduction to Satyam and agency conflict overview Stakeholders at Satyam (presenter M. Waqas) Inadequacy in Satyam’s Corporate Governance (Presenter Trinh) Suggestions to save Satyam ship (Presenter Xin) Questions will be entertained at the end 11/18/2014
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Yan-shu Zao Acc431.03 October 24‚ 2017 In the case Lindeman v. Commissioner‚ the court wanted to determine whether the Lodging and meals received by Lindeman and his family by the employer should be included in gross income or excluded due to section 119. According to IRS tax laws‚ Section 119 states that (1) The lodging is furnished for the convenience of the employer; (2) the employee is required to accept the lodging as a condition of his employment; and (3) the lodging is "on the business
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instruments and income tax allocation 3. Introduction to intercorporate investments 4. Consolidation subsequent to acquisition 5. Intercompany transactions 6. Issues in ownership interests and joint ventures 7. Foreign activities 8. Translation and consolidation of foreign subsidiaries 9. Financial reporting in the not-for-profit and public sectors 10. Fund accounting 11. Accounting standard-setting environments 12. Financial instruments and income tax allocation
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Although national income is a convenient way for measuring the standard of living between countries‚ it still has its limitations. Firstly‚ as national income statistics are calculated from millions of different returns to the government‚ inevitably mistakes are made. For example‚ returns may be inaccurate or simply not completed. This makes the data incorrect‚ hence hindering people to analyze the living standard of a country accurately. Secondly‚ National income does not record the output
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Questions for Class 5 TAX 3500 Fall 2014 1. In the last several baseball seasons there have been some hits that marked notable (for baseball fans) milestones. One was Barry Bonds hitting a record-breaking 756th home run. Another was Derek Jeter getting his 3000th hit. My question is about the fellow who caught the ball in each of these two events -- Derek Jeter’s 3000th hit and Barry Bonds’s 756th home run. The baseball in each case was estimated to be worth several hundred thousand dollars
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although it limits his potential for equity investment‚ it provides both a liability and tax shield. Corporate Formation 1) Section 351: Since Individual will be in control (80%+ ownership) of future corporation‚ he will not incur a taxable event a. Liability exceptions – tax avoidance or transfer was not for a bona fide business purpose b. If liabilities are in excess of Individual’s tax basis As the above code references‚ Individual will not incur an initial taxable event
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Franking Credit: A type of tax credit found in countries such as Australia that allows domestic companies to pass through taxes that have already been paid on corporate profits. The investor receiving stock dividends will also receive a quantity of franking credits in proportion to the overall tax rate of the company per dollar in profits. When filing personal income taxes‚ the investor will record as income both the amount of the dividend and the amount of the franking credit; however‚ the
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Chapter 2 of the Book Income tax only works in developed countries – Australia has a heavily reliance on income tax. Tax = [(assessable income – deductions) x rate] – offsets ( note there is a order for these) –payg(w) (at the very end +- any levies) Taxable Income e.g. the medicare levy is based on your taxable income. Note: The tax free threshold for a resident for part of the year is calculated through a special formula. (pg71 of text book) Deductions
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