Monday‚ November 21‚ 2011 Tax Structure & Policy Suggestions: Bangladesh Case 1 Introduction The main tax grossing or revenue collecting institution is generally known as National Board of Revenue (NBR). And as the central authority of tax policy and administration in Bangladesh‚ it plays a critical part in the development of the country. During the current fiscal year (FY 2010-11)‚ NBR is expected to collect Taka 75‚600 crore‚ providing much needed support to the government’s development
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“TAX SYSTEM OF THE PHILIPPINES: ITS ASSESSMENT” I. INTRODUCTION Taxation: Defined As defined by Cooley‚ taxation is the process or means by which the sovereign‚ through its law-making body‚ raises income to defray the necessary expenses of government. It is expressed in another way as a method of apportioning the cost of government among those who in some measure are privileged to enjoy its benefits and must‚ therefore‚ bear its burdens. In order to finance the necessary expenses of the government
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“Van Tho” in An Giang. Then she opened the second shop in Can Tho at Ngo Duc Ke Street. The problem is that when opening the second shop‚ she is asked to pay the excise tax (massage business is one of the taxable objects). However‚ she is not asked to do that at An Giang and even be exempt from paying any tax except the license tax because of the characteristic of her business (business for society‚ specifically the blind). So‚ does the action of taxing on her business –a business for the blind-against
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The Importance of Having Tax Information about Moving Overseas Information is always valuable to the right people. Before doing anything or making any decisions‚ we always need information to at least give us an idea which decision to make. The more information we have the better. Of course‚ this depends on the nature of the information involved. This brings us to the question of why tax information about moving overseas is important. First of all‚ tax information about moving overseas is important
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Abstract Tobacco taxation is an essential component of a comprehensive tobacco control strategy. However‚ to fully realize the benefits it is vital to understand the impact of increased taxes among high-risk subpopulations. Are they influenced to the same extent as the general population? Do they need additional measures to influence smoking behavior? The objectives of this study were to synthesize the evidence regarding differential effects of taxation and price on smoking in: youth‚ young adults
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the assumption of the non-recourse liability.The fair market value of the property at the time of sale was $1‚400‚000‚ so they claimed a loss of $55‚740. The Tax Commissioner insisted instead that they actually realized a gain of $400‚000; the difference between the principal amount of the debt and their basis. Issues:1) How should the tax court deal with the transfer of non-recourse mortgage debt in property dispositions when the fair market value of the property is less than the property’s basis
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a result of theft. Sec. 165 (a)‚ (e). In order to be able to claim the casualty loss deduction the loss must qualify as theft‚ the tax payer must prove the amount of loss due to theft and the taxpayer must also prove the date the theft was discovered. As mentioned in both Robert S. Gerstell‚ 46 T.C. 161 (1966)‚ and Michael Monteleone‚ 34 T.C. 688 (1960)‚ “for tax purposes‚ whether a theft loss has been sustained depends on the law of the jurisdiction wherein the particular loss occurred.” In
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Chapter 4 TAX INCENTIVES FOR HOUSEHOLD SAVING AND BORROWING Tullio Jappelli & Luigi Pistaferri We thank Patrick Honohan‚ Alberto Musalem and seminar participants at the World Bank Conference of April 8-9‚ 2002‚ for useful comments and Tea Trumbic for research assistance. Introduction Modern theories of intertemporal consumption choice emphasize that individuals may save for variety of motives: to smooth life-cycle fluctuations in income (the retirement‚ or life-cycle motive)‚ to face
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distributes its own stock rights to its shareholders. Code Sec. (a). The character of the recognized gain depends on the property distributed; thus it may be ordinary income‚ capital gain‚ or Section 1231 gain. An example illustrating this section was the Tax Court‚ deciding in favor of the IRS‚ held in Pope & Talbot‚ Inc.‚ v. Com‚ 104 TC __‚ No. 29‚ that a corporation which distributed discrete partnership units of property composed of timber and resort interests in the Northwest‚ must recognize distribution
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Tax Evasion in Pakistan (Small Business Sector) INTRODUCTION The development of any nation depends on the amount of revenue generated by the government for the provision of basic services to the nation. One major source of generating this revenue is taxation. According to Azubike (2009) tax is a major source of government revenue all over the world‚ including Nigeria. Income Tax Act of 1922: prevalent in undivided India was adopted by the Government of Pakistan as its Income Tax Law. Income
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