2. Why is there little tax evasion in Singapore or any other country of your choice? Is it because Singaporeans fear state punishment or because they are satisfied with the performance of the state? Or is there any other explanation? Which explanation(s) do you find most persuasive? Why? Tax evasion‚ the illegal negligence in taxpaying and misrepresentation of tax returns to reduce one’s tax liabilities‚ is at a low level in Singapore. With Singapore’s strong tax enforcement‚ Singaporeans fear
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SC 2279: (1977) 4 SCC 98: 1977 SCC (Tax) 536 Decided On: 31.08.1977 Bench: 7 Judge Bench consisting of the following Justices of the Supreme Court of India: Chief Justice M. Hameedullah Beg.‚ Justice N. L. Untwalia‚ Justice P. N. Bhagwati‚ Justice P. S. Kailasam‚ Justice S. Murtaza Fazal Ali‚ Justice V. R. Krishna Iyer and Justice Y. V. Chandrachud. Brief facts of the case: The case dealt with the constitutionality of a certain pattern of sales tax legislation‚ calculated to counter
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Soda Tax: The Beginning of the End The government plans to tax sugary drinks to lower consumption and reduce obesity rates. It is a tax that is justified‚ because a high majority of its consumers are obese and our government believes they should step in and do something about it. There are positive aspects of a soda tax‚ but it would also be a violation of freedom of choice‚ with many other red flags as well. The government simply‚ has too much involvement with our personal lives. Placing a
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Department of Business Law and Taxation BTC3150 Taxation Law Semester One 2011 Case Study / Assignment 1. IMPORTANT PRELIMINARY INFORMATION This section must be read in conjunction with the case study / assignment assessment details in the Unit Guide. Detailed below is a summary of selected key points. Assessment This assignment must be completed on an individual basis‚ or alternatively in a group of up to three students. Your (or your group’s) submission will be marked out of
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the same with no support‚ extra-curricular activities. The tax didn’t change anything for our schools. Our books still old and falling apart. People from Pepsi quit their job because they thought they weren’t getting paid enough. The soda tax should affect their paycheck. This is really an outrage and it is affecting not only the jobs at Pepsi Co. also it is effecting the stores who are not selling as much sodas and juices due to the tax. This affects the peoples’ families as well because the operations
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Tax evasion Definition Tax evasion is an unlawful practice which has the effect of reducing the government revenue needed for the provision of infrastructure‚ public services and public utilities. (Otosanya ‚ 2009). Spicer (1975) also stated that‚ tax evasion “ tax evasion result in a loss of tax revenues‚ impair the chances of realizing the distributional or equity goal of taxation‚ and if they become widespread‚ as they have in recent times‚ then more tax payer‚ may lose faith in the tax administration
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W22Extra: Tax and Gearing: More Questions Multiple Choice 1) Which of the following statements is false? A) In general‚ the gain to investors from the tax deductibility of interest payments is referred to as the interest tax shield. B) The interest tax shield is the additional amount that a firm would have paid in taxes if it did not have leverage. C) Because Corporations pay taxes on their profits after interest payments are deducted‚ interest expenses reduce the amount of corporate tax firms
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* * Part A: Tax Avoidance and evasion Introduction According to Hyde (2010) tax evasion cost the UK treasury over £15 billion annually. This is approximately 3% of the total tax liabilities that individuals and organisations are meant to pay to the Her Majesty Revenue and Customs (HMRC). While an estimate of £25 billion is lost through tax avoidance annually (Murphy‚ nd). These are huge sums of money that could go a long way to help the government reduce the national deficit or could
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Introduction) Tax Structure in Malaysia Generally‚ all income of companies and individuals accrued in‚ derived from or remitted to Malaysia are liable to tax. However‚ income remitted to Malaysia by resident companies (other than companies carrying on the business of banking‚ insurance‚ air and sea transportation)‚ non-resident companies and non-resident individuals are exempted from tax. Apart from income tax‚ there are other direct taxes such as real property gains tax‚ and indirect taxes
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FINAL WEALTH TAX Accepting the recommendations of N. Kaldor to introduce “integrated direct tax system” in India‚ Wealth Tax Act‚ 1957 was enacted. The Act was amended from time to time. The major objective of wealth tax has been attainment of equity objective of tax policy because wealth is considered as the major source of inequalities. The wealth taxation in India is applicable to all citizens of the country and is also called the wealth tax act‚ 1957. This is also considered to be direct
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