Tax Relief for Resident Individual Year 2010‚ 2011 & 2012 No. Individual Relief Types Amount (RM) 1 Self and Dependent 9‚000 2 Medical expenses for parents 5‚000 (Limited) 3 Basic supporting equipment 5‚000 (Limited) 4 Disabled Individual 6‚000 5 Education Fees (Individual) 5‚000 (Limited) 6 Medical expenses for serious diseases 5‚000 (Limited) 7 Complete medical examination 500 (Limited) 8 Purchase of books‚ journals‚ magazines and publications 1‚000 (Limited)
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Assignment Of Business Tax Procedure And Management As a student of commerce‚ we are supposed to know that what are the various methods through which we can plan our tax liability as an individual‚ firm or company. This assignment gives the overview of different ways of tax planning according to the circumstances prevailing at that context. FINDING OUT THE WAYS TO MINIMIZE THE TAX LIABILITY OF INDIVIDUAL‚ FIRM AND COMPANIES… [ASSIGNMENT OF BUSINESS TAX PROCEDURE AND MANAGEMENT] October 23‚
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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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23/09/2013 Corporate tax avoidance by multinational firms In this briefing: The scale of Member States’ (MS) losses through the increasingly aggressive use of tax-avoidance schemes by multinational companies (MNCs) is difficult to estimate‚ but is considered serious. Press reports have highlighted the low tax paid by well-known‚ very successful companies. The tax reduction methods used by MNCs have been well known for decades. They include transfer pricing‚ the use of lower-tax jurisdictions‚ over-charging
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can save on taxes by investing more in their business and claiming the tax deductions the law allows. By spending a few hours to understand all the deductions you are entitled too‚ you can save thousands of dollars. Is Your Business a Startup? First‚ if your
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To Increase the Sin Tax Would Be a Sin ENG 122 English Composition II Marnie Nollette April 1‚ 2013 To Increase the Sin Tax Would Be a Sin When random citizens are asked today what their opinion is of taxes‚ more than likely their response would be they pay too much. Taxes continue to increase on just about anything that is purchased. The pockets of American people are being drained by dozens of different taxes. Sin taxes are just one of these taxes. Sin taxes on alcohol and tobacco
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TAXATION OF EARNINGS OF GHANAIAN FOOTBALLERS AND OFFICIALS AT FIFA 2010 By Isaac Nyame & Abdallah Ali-Nakyea of WTS Nakyea & Adebiyi (Tax Attorneys & Solicitors) Introduction The FIFA world cup Fiesta in South Africa came to a very successful end on Sunday‚ 11 July 2010. It has been hailed‚ and rightly so‚ by most football pundits as one of the most successful international sporting events organized by an African Country. Once again Ghanaian footballers made us proud
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The UK taxation system relevant to the typical tax paying resident within the UK consists of Income tax‚ Corporation tax and Capital Gains tax. In the past tax payers have tried to ‘evade’ paying tax‚ with some ludicrous plans to keep their own personal taxes to a minimum‚ if not have a tax liability in the negative. This is partly why the UK Government has had to implement tax laws to maintain and clarify the structure of the taxation system within its policies. The system relies on a number of
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Soda Tax Is Not the Solution There has been a growing concern towards the issue of obesity and efforts were made by governmental and non-governmental organizations to tackle this health problem. New York City’s proposal for labeling regulations for the food and beverage industry marked the start of government intervention into the market to fight obesity‚ and many states soon followed suit (Brownell et al.‚ 2012‚ p. 384). A recent tax proposal on sugary beverages has caused uproar among the beverage
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ADVANCED TAXATION Estate and Gift Tax I Alan Davis CHINESE PROVERB: “Tell me‚ I’ll forget. Show me‚ I may remember. But involve me and I’ll understand.”1 "To talk much and arrive nowhere is the same as climbing a tree to catch a fish”2 “One who talks does not know‚ one who knows does not speak.”3 SPECIAL TAX RATE FOR DIVIDENDS - The great tax debate of 2003 concerned the taxation of dividends. Prior to 2003‚ dividends were given no special treatment in the law. Conservatives argued
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