UNIVERSITY OF CAPE COAST SCHOOL OF BUSINESS DEVELOPING AN EFFECTIVE AND EFFICIENT TAX SYSTEM IN A DEVELOPING ECONOMY - A CASE STUDY OF GHANA A PROJECT WORK PRESENTED TO THE DEPARTMENT OF ACCOUNTING AND FINANCE‚ SCHOOL OF BUSINESS‚ UNIVERSITY OF CAPE COAST IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR AWARD OF A BACHELOR OF COMMERCE DEGREE. JUNE 2005 MEMBERS OF THE PROJECT TEAM NAME SIGNATURE NUMBER
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SOME OF THESE ANSWER ARE NO LONGER VALID AFTER THE END OF 2008. THOSE ITEMS ARE NOT ON OUR EXAM TOMORROW. 1. An audit of a government‚ conducted in accordance with generally accepted auditing standards (GAAS)‚ includes A. A determination of efficiency and effectiveness. B. An examination of financial statements and underlying records for conformance with generally accepted accounting principles (GAAP). It does this as well as generally accepted governmental auditing standards C. Tests
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The tax authorities of North Rhine-Westphalia recently paid 3‚5 million Euro for a CD with stolen Swiss bank details of around 1‚000 suspected German tax invaders. It was not the first purchase of a CD from a whistleblower which revealed money moved by German citizens to a tax haven. In 2008‚ a CD with bank accounts of tax invaders hiding undeclared assets in Lichtenstein even convicted the former CEO of Deutsche Post‚ Klaus Zumwinkel. Since then German tax authorities bought several tax CDs which
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Tax Research Memo http://www2.gsu.edu/~accerl/home.html Your Firm October 19‚ 2011 Relevant Facts Joe‚ CPA reimburses a client for a $75‚000 tax liability that is traceable to Joe’s ineffective tax advice. For fear of increasing his malpractice premiums‚ Joe decides not to file a claim with his insurance company. Specific Issues How much‚ if any‚ of the $75‚000 paid to the client can Joe deduct using either causality loss or business expense? Conclusions Joe may not deduct
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Our government’s tax system‚ makes those who earn the most money pay the highest percentage in taxes. This is a communistic trait that many government officials now support. A tax system such as this encourages mediocrity‚ and sameness and doesn’t benefit the people who work hard for their money. The government also takes away a certain amount of the money you earn and gives it to people who don’t work and contribute to society and by extent people who may not deserve it; this is essentially communism
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COMPARISON BETWEEN EXISTING DIRECT TAX SYSTEM AND PROPOSED DIRECT TAX CODE IN INDIA Tax is defined as a compulsory payment made to the government by the individuals firms and companies without any expectation of a direct return. In general there are two types of tax system prevailing in our country. One is direct tax and other is indirect tax. Here we will restrict our discussion to direct tax only. Direct taxes are those the burden of which cannot be shifted‚ that is incidence and impact is on
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countries: the use of incentives and promotion agencies‚ 2007 Hines J.‚ “Tax Sparing and Direct Investment in developing Countries”‚ NBER Working paper‚ N. 6728‚ September 1998 Honest P IMF (1985). Foreign Direct Investment in Developing Countries. Occasional Paper 33‚ IMF‚ Washington D.C. Jacques Morisset‚ Tax Incentives‚ Public Policy for the Private Sector‚ The World Bank Group‚ February 2003 Jacques Morisset and Neda Pirina‚ How Tax Policy and Incentives Affect Foreign Direct Investment‚ A Review (2000)
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personal tax returns. In addition to a process map indicating the process that the staff is required to go through and time each process takes‚ discussion on how such process can be reengineered will follow. Finally‚ under the assumption that the concurrent technological support is available‚ an analysis on the cost and benefits of new information technology will be provided. EVALUATION OF PROCESS Although Ernst &Young believes that extra checks in the office to prepare personal tax returns build
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Article: Tax simplification: The 2006 changes to UK pensions taxation Abstract: “This paper sets out the key changes‚ and reports on how the market is responding” Introduction This article discusses the changes made to UK pension’s taxation in 2006 and the implications of these changes. The article clearly identifies two categories in which the issues arising from the changes can be subdivided. Firstly‚ the Short-Term aspects of the changes‚ which force the market to react quickly because
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Question 1 Ans: Mr. Chan Salaries tax Year of assessment 2010/11 Basic period: year ended 31 March 2010 $ $ Salary ($100‚000*12) 1‚200‚000 Education benefits 150‚000 Reimbursement of tuition fees 100‚000 Reimbursement of utilities 50‚000
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