Tax & Taxation The term ’tax’ has been derived from the French word taxe and etymologically‚ the Latin word taxare is related to the term ’tax’‚ which means ’to charge’. Tax is an obligatory payment in the part of the citizen without the expectation of any direct benefit. Taxation is the obligation of non-penal‚ yet compulsory transfer of resources from the private to the public sector levied on a basis of predetermined criteria and without reference to specific benefit received. It is one of the
Premium Tax Taxation
An ad valorem tax is a tax based on the value of the incurred‚ like the value added tax‚ sales tax‚ property tax or inheritance tax. The value of the goods‚ services or properties is the basis for the tax collected. Specific tax on the other hand‚ is a tax based on the quantity produced. It is not a function of the value of the product being taxed. Cigarettes are a product being taxed in such category. The use of specific tax could have been a good idea since it is evident that even though
Free Tax Taxation Cigarette
Josh Keeder Tax Accounting 2 Professor Jackson Offshore Tax Havens Introduction: Offshore tax havens are a tax-avoiding loophole that sends money over seas where there is no or little tax. This has become the go to move of some of the top corporations of the United States as these companies are costing the U.S over one hundred fifty billion dollars of revenue each year. (1) Last year alone it was concluded that the top fifteen multinational companies held $776 billion dollars offshore in various
Premium Tax Taxation in the United States
TAX REFORMS IN INDIA * About :- Tax reform is the process of changing the way taxes are collected or managed by the government. Tax reformers have different goals. Some seek to reduce the level of taxation of all people by the government. Some seek to make the tax system more progressive or less progressive. Others seek to simplify the tax system and make the system more understandable‚ or more accountable . Numerous organizations have
Premium Tax Taxation Indirect tax
MANAGEMENT Financial Management Value Added Tax; Goods and Service Tax ABDOLMABOOD FOOLADIVANDA | MH101017 | Prepared for Prof. Dr. Melati bt Ahmad Anuar April‚ 2011 1. Introduction VAT is a system in which the tax is collected on the value added to the goods at each stage of sales. The dealer selling the goods collects tax on the full price at which he sells the goods. At the end of a tax period he reduces from the tax so collected by him‚ the tax which has been charged to by the dealers
Premium Value added tax Tax Tax refund
FEATURES OF SERVICE TAX 1. Scope: It is leviable on taxable services ‘provided’ or ‘to be provided’ by a service provider. The services ‘to be provided’ in future are taxed only if payment in its respect is received in advance. Two separate persons required Payment to employees not covered: For charge of service tax‚ it is necessary that the service provider and service recipient should be two separate persons acting on ‘principal to principal basis’. Services provided by an employee to
Premium Tax Output
The Rise of the Roman Empire started around 133-30 BCE. During this time‚ there were three triumvirs‚ Crassus Gaius Julius Caesar‚ and Gnaeus Pompeius Magnus. When Crassus died in Parthia‚ in 52 BCE‚ the Senate appointed Pompey as the sole consul of Rome. This broke the Republican rule where there should have been two consul’s not just one. Caesar refused to resigned his position that was ordered from the Senate and seen the moved as a unjust action to oust him from power. He refused to resigned
Premium Roman Empire Roman Republic Ancient Rome
taken by the beneficiaries. In the tax of tax fraud the bond referred to here are actually non-existent and are never enforceable in the tax authorities decide to exercise the right to take the bond such as failure to pay an installment on a tax deficiency or tax return. Another criminal offense is the declaration that there are already permits that the taxpayer has procured from the local government and the cost of such permits is deducted in the income tax return as an
Premium Tax Taxation in the United States Taxation
HITLERS RISE TO POWER (1923-1934) Author -*Simon lugwisha* INTRODUCTION Adolf Hitler’s rise to power began in Germany in September 1919] when Hitler joined the political party known as German Workers’ Party the name was changed in 1920 to the National Socialist German Workers’ Party‚ commonly known as the Nazi Party. This political party was formed and developed during the post-World War I era. It was anti-Marxist and was opposed to the democratic post-war government of the Weimar Republic
Premium Adolf Hitler Paul von Hindenburg Nazi Party
The Rise of the KKK By: Kylee Tyler-Breimon As a result of the Red Scare and also anti-immigrant feelings‚ groups bigots used anti-communism as their excuse to harass any group that wasn’t the same as their group. One of these groups was known as the Ku Klux Klan‚ or the KKK. The Ku Klux Klan was a secret organization that used terrorist tactics in an attempt to restore white supremacy in Southern states after the Civil war. This group was devoted to “One hundred percent Americanism”
Premium Ku Klux Klan