practical experience of mechanism of collection of gift tax by National Board of Revenue (NBR). To complete the report successfully‚ we tried to gather information from News Paper‚ web sites. But the NBR does not provide information in the web site directly and even it does not publish total process to collect taxes from different sector. For this reason we had to visit NBR several times and thus we were successful to collect information about gift tax in Bangladesh. To complete this report‚ we have
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words that made them react. Denice Frohman’s poem‚ “Dear straight people”‚ wasn’t the first poem I had heard‚ but it really resonated with me. She starts off playfully‚ and as she continues her words become more intense‚ but when she softens her words again‚ she says‚ “Dear queer young girl‚ I see you. You don’t want them to see you so you change the pronouns in your love poems to ‘him’ instead of ‘her’. I used to do that. Dear straight
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Accounting for Income Tax The standard prescribes the accounting treatment for income taxes is AASB 112 AASB 112 is based on a balance sheet approach to account for income taxes and it covers: • the accounting treatment of current and deferred tax expenses; • recognition and measurement of current tax assets and liabilities; • recognition and measurement of deferred tax assets and liabilities; • the accounting treatment of the tax consequences of various transactions and events‚ including
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a commodity. Tax constitute the major source of the government’s income Meaning of Tax The tax is compulsory payment to the Government by taxpayer without any expectation of some specified return. While paying tax‚ the tax-payer is not entitled to force the government to give something in return of the sum he has paid as tax. Characteristics of a Tax A compulsory payment: - Tax is not an optional payment by a citizen but a payment having legal enforcement behind it. Tax is levied by the
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TAX STRUCTURE IN INDIA Introduction: India has a well-developed tax structure with clearly demarcated authority between Central and State Governments and local bodies. Central Government levies taxes on income (except tax on agricultural income‚ which the State Governments can levy)‚ customs duties‚ central excise and service tax. The Tax Structure in India is quite strong and follows the financial year. The taxation under the tax structure in India is applicable for any kind of income pertaining
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Triple Bottom line. Corporate sustainability involves meeting the needs of today’s stakeholders in a manner that protects the environment and resources needed for future generation. It is directed at improving a company’s triple bottom line‚ which covers its performance on economic environment and social metrics. Economic. Barclays demonstrated significant success in delivering much better financial results between 2002 to 2005. They improved the cost-to-income ratio by right sizing the business
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Singapore Withholding Tax Withholding Tax is a form of levy placed on payments made to non-resident tax entities including employees‚ business partners and overseas agents. In accordance with IRAS tax rules‚ a person has a legal obligation to withhold a percentage of the payment‚ when he makes payments of a specified nature under the Singapore Income Tax Act‚ to a non-resident‚ and hence the Withholding Tax. What is Singapore Withholding Tax? For tax purposes in Singapore‚ Inland Revenue Authority
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An estate tax is a charge upon the decedent’s estate‚ regardless of how it is disbursed. Taxes imposed upon death provide incentive to transfer assets before death. This is because under the current tax laws it is cheaper. Although it is a unified system because the gift tax is tax exclusive which means you do not have to pay a tax on the tax it is less costly then on an estate tax which is tax inclusive. The best strategy is to utilize a taxpayers annual exclusion which is currently $10‚000
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Service Tax Finance Act‚1994 (As amended by Finance Act 2009) Act 1994 Act‚2009) The things to be considered for interpretation considered….for Trade Notices Circulars / Court Orders Notification Rules Act Pinnacle Education 2 Introduction Particulars P ti l Finance Act‚1994 ‚ Chapter V (Finance Act) Chapter VA (Finance Act) Chapter VI (Finance Act) Implication I li ti Applicable Law for Service Tax pp Act for Service Tax provisions Advance Ruling on Service Tax •Education
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The estate tax in the United States is the tax made upon transfer of the taxable property of a deceased. It is also called inheritance tax. Such estate may include property inherited via a will‚ life insurance benefits to beneficiaries‚ securities‚ trusts‚ annuities‚ corporate or business interests and other assets. It consists of an accounting of all assets and its interests at the time of a person’s death. HISTORICAL OVERVIEW For the past 90 years throughout the history of America‚ the federal
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