and concepts about whole tax payments systems and the role of tax authority in response of problem solving. But it is a matter of regret that majority hold a negative aspects about these. This result actually matches to the current scenario of our taxation. Actually respectful behavior from the tax authority and if meaningful contractual relationship be established then it is expected that the rate of noncompliance and tendency of tax avoidance and evasion will be reduced dramatically.
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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 to a person working as an employee under the public sector units‚ private sector units‚ foreign companies in India‚ Departments of the State Governments of India‚ and
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services tax (GST)‚ business profit tax (BPT)‚ tourism tax and bank profit tax. Also there are five fees that are taken. That is tourism land rent‚ duty free royalty‚ foreign investment royalty‚ fuel re-export royalty and re-export royalty. Taxation is the opposite of government subsidy. The effect is to change the behavior of suppliers and consumers by changing the cost of production and there by influencing the market equilibrium and quantity. Generally there are two main types of tax that
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Problem 1 Units Cost per Unit Total Cost Production batch 1 4‚000 $10 40‚000 Production batch 2 60‚000 $14 840‚000 Production batch 3 40‚000 $16 640‚000 Production batch 4 36‚000 $20 720‚000 140‚000 2‚240‚000 Problem 2 One Percent: Net Receivables Percent W/O Allowance AMT Year End Net Receivables 742‚000 1% 7‚420 734‚580 Two Percent: Net Receivables Percent W/O Allowance AMT Year End Net Receivables 742‚000 2% 14‚840 727‚160 The more accurate allowance method
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paper the field of public finance was divided into four areas: (1) taxation‚ (2) government expenditures‚ (3) the budget process and (4) public debt. A historical perspective of each of these sub-topics is presented. In addition‚ the various research and policy issues related to each of the said sub-topics are discussed and synthesized. Among others‚ these issues include: (1) the tax effort‚ (2) allocative effects of taxation‚ (3) taxation and inflation‚ (4) fiscal incidence‚ (5) the budget process and
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185–198 The influence of interest on net equity and interest rates on tax neutrality – a case study of the Brazilian corporate taxation Aloísio Flavio Ferreira de Almeida a ‚ Nelson Leitão Paes b‚∗ b a Funda¸ cão Getúlio Vargas‚ EAESP‚ Brazil Programa de Pós-Gradua¸cão em Economia (PIMES/UFPE) e CNPq‚ Brazil Abstract In this paper we visit the capital income taxation in Brazil to know whether and to what extent interest on net equity (INE) has an influence on tax neutrality‚ i.e.‚ if it helps
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factor for its development process. It is thus surprising how very small attention is given to one of the most fundamental way that public revenue are raised. Developing countries are typically unable to generate sufficient amount of revenue from taxation because these countries face a number of institutional problems in the process of revenue generation. One of the main problems is corruption in tax administration and tax system reforms (Brondolo‚et al.(2008). The quality of governance as a whole
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the anti-smoking advocates welcomed the administration’s move stating that it would save an estimated 900‚000 lives. However‚ some of the Exhibit I smokers worried about raising cost of their habit Worried Smokers (Exhibit I). This kind of taxation is often called as ‘sin tax’‚ as it was mainly imposed on vices like gambling‚ drinking and smoking. Recent hike in sin tax expected to stop around 2 million kids from trying to smoke for the first time and prompt almost 1 million adults to
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are wrong and morally questionable‚ it can be argued that one is legal and the other is a criminal act. The following are the comparison between tax avoidance and evasion. Legality Evasion is the illegal manipulation of business affairs to escape taxation. This is a criminal act that when caught will lead to prosecution. An example could be the directors of family-owned business not declaring cash sales. Another example might be the payment of a low salary (below the threshold of income tax) to a
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This paperwork ACC 455 Week 2 Individual Assignment Problem Set includes solution of these exercises: C: 2-6 C: 2-40 C: 2-45 Business - Accounting Complete the problems found in Ch. 2 of Prentice Hall’s Federal Taxation 2010: Corporations . C:2-3 Black LLC C:2-54 Bear Corporation C:2-55 Wildcat Corporation C:2-56 Tax Strategy for Wildcat Corporation Read the scenario and respond to the questions. Support your answers with calculations‚ as needed
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