DEDUCTIONS FROM GROSS ESTATE UNDER PHILIPPINES TAX RULES AND SINGAPORE TAX RULES ADVENTIST UNIVERSITY OF PHILIPPINES PUTING KAHOY 2008 DEDUCTIONS FROM GROSS ESTATE PHILIPPINES TAX RULES Funeral Expenses For deaths occurring on or after January 1‚ 1998‚ the amount allowable as deduction shall be the lower amount between the actual funeral expenses (whether paid or unpaid) and five percent (5%) of the gross estate‚ but in no case to exceed two hundred thousand pesos (P200‚000). Judicial Expenses
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Issues: » Impact of VAT on sales » Need to reform traditional tax regime » Hurdles in implementing new reforms Discuss how implementing VAT will impact various sectors in India. Implementation of VAT drugs Due to implementation of VAT there is a decrease in the price of the drug so the chemist who wanted to avoid incurring losses by having to sell the drugs at cheaper rates in case the purchased be before april 2005‚ were not sol by that date. Resorted to purchasing very low qty of drugs
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corporations are considered separate legal entities from their shareholders. As such‚ corporations pay taxes on their annual earnings‚ just as individuals do. When corporations pay out dividends to shareholders‚ those dividend payments incur income-tax liabilities for the shareholders who receive them‚ even though the earnings that provided the cash to pay the dividends were already taxed at the corporate level. 2. What type of taxpayers are considered "eligible" taxpayers with regard to special ordinary
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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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pros and cons of the Bush Tax Cut Outline Intro: Introducing the topic and explaining it. Main Body 1: Discussing different pros of the Bush Tax Cut. Highlighting key positive differences that came from the Bush Tax Cut. Main Body 2: Discussing different cons of the Bush Tax Cut. Highlighting key negatives that came from the Bush Tax Cut. Conclusion: Discussion of the results of the legislation then and now. Several momentary income tax relief methods set by former
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(Contact; 2007). By this‚ Tax administrations can mobilize financial resources in order to secure the provision of public services such as education‚ infrastructure‚ health services‚ or social protection. This is to say that revenue administrations occupy a pivotal position in the mobilization of domestic financial resources (Contact; 2007). But over the years‚ many developing countries lack an efficient tax collection system‚ leaving in some cases more than 60% of the tax potential untapped. In these
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is to ensure that all taxpayers‚ within a defined tax jurisdiction‚ are brought into the tax net and assessed correctly in order to block all possible leakages. Generally‚ taxpayers are categorized according to the legal status of their businesses. In this research work we are interested in Corporate Entities/Public Companies which are limited liability companies or public companies registered with profit - motive in mind. Their tax affairs are being handled by the Federal Taxing Authority
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shoes has never happened‚ therefore I will make one up… An incident or event that has happened to me was when my teacher yelled at one of my class mate to stop talking and to continue to do his work. In primary school one of my teachers told me the tip to look from someone else’s perspective. So in this case I imagined if I was the teacher and came to a conclusion that the teacher did not want to lose her job‚ as a student might report to the principle that the teacher is not doing her job properly
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Income Tax Is not one Tax but an Aggregation Of Taxes Tax is a fee charge by the Govt. on any product income or activity. Taxes in India are of two types‚ Direct Tax and Indirect Tax. Direct Tax‚ like income tax‚ wealth tax‚ etc. are those whose burden falls directly on the taxpayer. The burden of indirect taxes‚ like service tax‚ VAT‚ etc. can be passed on to a third party. Income Tax is all income other than agricultural income levied and collected by the central government and shared
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presentation software‚ an individual can put together a visually appealing and effective presentation in just a few hours. I see many more businesses relying on programs such as Microsoft PowerPoint® to take care of their presentation needs. This is just the tip of the technological ice berg. There are so many technological resources that today’s businesses are using as forms of communication. Although most businesses are now using the internet to communicate with others around the globe‚ many businesses are
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