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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Further reductions came in 1997–98‚ when the three rates were brought down further to 10‚ 20‚ and 30 %. In subsequent years‚ exigencies of revenue have led to adding surcharge and a 2% primary education cess on all taxes. 3. In the case of corporate taxation too‚ the basic rate was brought down to 50%‚ and rates applicable to different categories of closely held companies were unified at 55%.The distinction between closely held and widely held companies was done away with and the tax rates were unified
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Trade & Commerce > Taxation System In India vxv 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. Value Added Tax (VAT)‚ (Sales tax in States where VAT is not yet in force)‚ stamp duty‚ State Excise‚ land revenue and tax on professions are levied by the State
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government consumption and investment but excludes transfer payments made by a state. By imposing taxes the government receives revenue from the population. Taxes come in many varieties and serve different specific purposes‚ but the key concept is that taxation is a transfer of assets from the people to the government. . There are two main types of fiscal policy‚ expansionary fiscal policy and contractionary fiscal policy. Expansionary fiscal policy is designed to stimulate the economy during or in anticipation
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Question 14-4 Internal Revenue Code Section 351 permits shareholders of a corporation to defer recognition of a gain or loss on the transfer of assets to the corporation. The transfer of property may be made when a new corporation is formed or may reflect additional capital contributions to an existing corporation. Without Section 351‚ a sole proprietorship or a partnership would have difficulty adopting the corporate form of organization for legal and/or tax purposes because the transfer of appreciated
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audit framework. 6 7. Kirchler‚ E. (2009). The economic psychology of tax behaviour. New York: Cambridge University Press. 8. Loo‚ E. C. (2006)‚ Tax Knowledge‚ Tax Structure and Compliance: A report on a Quasi-Experiment‚ New Zealand Journal of Taxation Law and Policy‚ Volume 12 No.2‚ pp. 117-140. 9 10. Mottikavandar‚ Haron‚ H. and Kassipilai‚ J. (2004‚ March). Level of Compliance among small business entrepreneurs‚ Accountant Today‚ 34-37. 11 12. The Inland Revenue Board of Malaysia. Annual
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