Subject: Taxation Topic: Advantages Of Direct Taxes & Impacts Of Indirect Taxes on Corporate sector By: Vrushika Sheth Introduction on Tax To tax (from the Latin taxo; "I estimate") is to impose a financial charge or other levy upon a taxpayer (an individual or legal entity) by a state or
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uBECHONB/301/4/2012 Tutorial Letter 301/4/2012 General Tutorial Letter BECHONB Semester modules & Year papers Department of Business Management This tutorial letter contains important information about your postgraduate studies in the Department. Bar code CONTENTS 1 1.1 1.2 1.3 1.4 2 3 3.1 3.2 3.3 4 4.1 4.2 4.3 4.4 4.5 4.6 5 5.1 5.2 6 INTRODUCTION ................................................................................................................. 3 Welcome ....
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Sta. Maria‚ Oel Angel BSBA – Marketing III February 15‚ 2014 Law in Income Taxation Mrs. Gosom Business Income Tax – A tax that governments impose on financial income generated by all entities within their jurisdiction. By law‚ businesses and individuals must file an income tax return every year to determine whether they owe any taxes or are eligible for a tax refund. Income tax is a key source of funds that the government uses to fund its activities and serve the public.
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1-14B Contribution Format versus Traditional Income Statement (LO5) CHECK FIGURE (2) Net operating income: $65‚674 House of Pianos‚ Inc.‚ purchases pianos from a well-known manufacturer and sells them at the retail level. The pianos sell‚ on the average‚ for $3‚300 each. The average cost of an piano from the manufacturer is $1‚492. The costs that the company incurs in a typical month are presented below: |Costs |Cost Formula
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INTRODUCTION TO TAXATION Unlike most transfers‚ which are voluntary‚ taxation is compulsory. That’s needed because of free-rider problem (no one will have injective to contribute) Modern taxes are monetized (individuals provide just money) Tariffs are taxes imposed on imported goods. Tariffs protect domestic producers. Taxes can be divided to: • direct • indirect Direct taxes are individual income tax‚ payroll tax (used to finance social) security‚ corporation income tax
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of Cal’s colleagues argued that it did not work out that way for Standard Oil. The question is whether Cal is correct and that in 1912 this would be a viable defense or if‚ even though the mills are entirely intrastate‚ he would still be subject to the Sherman antitrust act. Applicable Law In United States v. Patten‚ 226 U.S. 525 (U.S. 1913)‚ the defendants were charged with violating the Sherman Anti-trust Act by conspiring to run a corner on the cotton market. Ultimately‚ Patten was attempting
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Presumptive Taxation A presumptive or imputed tax is generally a proxy for the standard tax. It is applied when the tax base is too small or hard to verify‚ due to limited administrative resources‚ or improper accounting practices. According to a definition by Ahmed and Stern (1991)‚ “The term presumptive taxation covers a number of procedures under which the ‘desired’ base for taxation (direct or indirect) is not itself measured‚ but is inferred from some simple indicators which are more easily
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CASE STUDY ‚ Au Bon Pain This is a company which has achieved great success and soon had become the leader on the market. If we could describe them by only one word that word would be: Quality. Very quickly they became recognizable. Despite that they gained a lot of competition in the market they were still trying to develop. The company began to develop so quickly that they had to make some changes. They stopped and focused their attention on the structure of the company‚ the company inside.
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Adam Smith’s Four Main Canons of Taxation ↓ A good tax system is one which is designed on the basis of an appropriate set of principles (rules). The tax system should strike a balance between the interest of the taxpayer and that of tax authorities. Adam Smith was the first economist to develop a list of Canons of Taxation. These canons are still regarded as characteristics or features of a good tax system. Adam Smith gave following four important canons of taxation. 1. Canon of Equity The principle
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I. Introduction to the tax systemThe laws governing taxation in the Philippines are contained within the National Internal Revenue Code. This code underwent substantial revision with passage of the Tax Reform Act of 1997. This law took effect on January 1‚ 1998.Taxation is administered through the Bureau of Internal Revenue which comes under the Department of Finance. The chief executive of the Bureau of Internal Revenue is the Commissioner who has exclusive and original
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