Mokhtar Faculty of Management and Economics Universiti Malaysia Terengganu Abstract The focus of this paper is to demonstrate the technical comparison between business zakat and taxation. This paper aims to enhance the knowledge on the part of zakat assessment and the management of zakat as compared to the system of taxation in Malaysia. This is to minimise the misunderstandings that exist in paying zakat as an obligation and to enhance the responsibilities of a good citizen in paying taxes. Introduction
Free Tax Corporate tax Income tax
Introduction Taxes are the major source of mobilizing internal resources of an economy. Bangladesh revenue structure has been burdened by taxes from indirect sources for long time and usually characterized by heavy import and excise duties. To cope with the challenge due to globalization‚ government of many such countries has to cut down such duties and levies. It seems that government might have to collect more money either through VAT (Value Added Tax) or from direct taxes. In Bangladesh VAT introduced
Free Tax Taxation Progressive tax
Library Briefing Library of the European Parliament 23/09/2013 Corporate tax avoidance by multinational firms In this briefing: The scale of Member States’ (MS) losses through the increasingly aggressive use of tax-avoidance schemes by multinational companies (MNCs) is difficult to estimate‚ but is considered serious. Press reports have highlighted the low tax paid by well-known‚ very successful companies. The tax reduction methods used by MNCs have been well known for decades. They include transfer
Free Tax Taxation
Century‚ Matthew N Murray and William F. Fox‚ ed.‚ Praeger Publishers‚ Westport‚ Connecticut and London 1997‚ pp. 52-64. Buehler‚ Alfred G. Public Finance. McGraw-Hill Book Company‚ Inc. New York and London‚ 1940. John E Due and John L. Mikesell. Sales Taxation: State and Local Structure and Administration. The Urban Institute Press‚ Washington‚ D.C. 1995. Ebrill‚ Liam‚ Michael Keen‚ Jean-Paul Bodin‚ and Victoria Summers. The Modern VAT. International Monetary Fund‚ Washington‚ D.C. 2001. Fisher‚ Ronald
Premium Value added tax Tax Taxation
ccountability ‚ DAC Guidelines and Reference Series A DAC Reference Document Governance‚ Taxation and Accountability ISSUES AND PRACTICES ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT The OECD is a unique forum where the governments of 30 democracies work together to address the economic‚ social and environmental challenges of globalisation. The OECD is also at the forefront of efforts to understand and to help governments
Free Tax Taxation Progressive tax
archive file of ACC 497 Week 4 Learning Team Assignments from the Readings shows the solutions to the following problems: I: 15-62 Case Study Problem Determine whether you can accept at face value Mal Business - Accounting Prentice Hall’s Federal Taxation ‚ Chapter 15: I:15-61 Tax Strategy Problem I:15-62 Case Study Problem In both problems‚ conduct tax research and formulate tax-planning advice in your responses. When you are planning your schedule‚ do your best to refrain from
Premium Taxation Corporate tax Value added tax
TRANSFER AND BUSINESS TAXATION Ballada & Ballada Presented by ATTY DON ADA DUPIO 1. INTRODUCTION MODES OF ACQUIRING OWNERSHIP 1. Occupation – the property seized is without a known owner. 2. Intellectual Creation – the composer owns his musical creation while the author owns his literary‚ legal‚ historical‚ scientific or other works. 3. Donation – an act of liberality whereby a person disposes gratuitously of a thing or right in favor of another‚ who accepts it. 4. Succession – the property
Premium Inheritance Property Marriage
Law Affecting Business Table of Contents Introduction 4 Sources of Law 5 Laws affecting Business’s 8 Government Taxation affecting Busniess’s 16 Purpose of Taxation 23 Conclusion 25 Introduction Any system of regulations to govern the conduct of the people of a community‚ society or nation‚ in response to the need for regularity‚ consistency and justice based upon collective human experience is called law. In addition‚ business law encompasses the law governing contracts
Premium Tax Common law Law
SULTAN TAX ASSOCIATES TAX YEAR TAXATION OF WITHHOLDING TAX ON GOODS AND SERVICES 2012 WITHHOLDING TAX ON GOODS AND SERVICES TAX YEAR 2011 (1st July 2011 to 30th June 2012) [Provisions applicable w.e.f. 1.7.2011 onwards] 1) Section 153(1) of the Income Tax Ordinance‚ 2001 provides that every prescribed person making a payment in full or part including a payment by way of advance to a resident person or permanent establishment in Pakistan of a non-resident person: (a) (b) (c) for sale of goods;
Premium Taxation
2. Introduction................................................................................................................. 3 The Current Taxes and Their Shortcomings ............................................................... 4 A. Taxation at Manufacturing Level............................................................................ 5 B. Exclusion of Services.............................................................................................. 5 C. Tax Cascading.....
Premium Value added tax Taxation Tax