tax cannot be levied on any service which is not included in the list of taxable services. Over the past few years‚ service tax been expanded to cover new services. The objective behind levying service tax is to reduce the degree of intensity of taxation on manufacturing and trade without forcing the government to compromise on the revenue needs. The intention of the government is to gradually increase the list of taxable services until most services fall within the scope of service tax. For the
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The Multiplier and Keynesian Economics The concept of the multiplier process became important in the 1930s when John Maynard Keynes suggested it as a tool to help governments to achieve full employment. This macroeconomic “demand-management approach”‚ designed to help overcome a shortage of business capital investment‚ measured the amount of government spending needed to reach a level of national income that would prevent unemployment. The theory of multiplier occupies an important place in the
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Since the 2008 stock market collapse it has become more apparent that there is currently a deficit of jobs in the marketplace‚ and that so far initiatives by the federal government to help counteract that deficit have been largely ineffective. Thus‚ a better plan of action for restoring jobs is by encouraging employers to hire through the lowering of the corporate tax rate in the United States. Lowering the corporate tax rate in the United States will be exceptionally beneficial in the creation
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PAMANTASAN NG LUNGSOD NG MAYNILA (University of the City of Manila) Intramuros‚ Manila Bureau of Internal Revenue (Government Rules and Regulations Trade Policies and Practices & Fiscal Policy) By: Nerissa S. Arcega Marie Catherine T. Manarpiis Bureau of Internal Revenue (Government Rules and Regulations Trade Policies and Practices & Fiscal Policy) Bureau of Internal Revenue - is an attached agency of the Department of Finance. It collects more than one-half of the total revenues
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Chapter one 1.0 INTRODUCTION In almost all nations of the world today‚ taxes form the most important part of governments’ venue. The need for taxation the world over and particularly‚ the “Third World”‚ has become necessary; and will remain so with the increasing dependence of the citizenry on the central government for the provision of infrastructure and other necessaries of life. In Ghana‚ the central government provided and continues to make available such infrastructure as roads‚ portable water
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DRAFT MANAGING LOCAL REVENUE IN INDONESIA Raksaka Mahi *) Prepared for: CAN DECENTRALIZATION HELP REBUILD INDONESIA? A Conference Sponsored by the International Studies Program‚ Andrew Young School of Policy Studies‚ Georgia State University‚ Atlanta May 1- 3‚ 2002 Introduction The role of local owned revenues had been very small for a long period of time. In the past‚ almost ninety percent of total district’s revenue came from central government transfers and subsidies. Moreover‚ those transfers
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AGRICULTURE IN PAKISTAN INTRODUCTION The Agriculture sector uninterrupted engages in recreation of Pakistanis economy since independence. In the early time period it considered a dominant sector but due to the declining its performance due to the political‚ social‚ environmental and climate conditions its production yield goes down gradually and now it is the second largest sector in Pakistan. It accounting for over 21% of GDP‚ 45% of total labour force engaged with this sector. Around 63% of country
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of the economy. Under each of these heads‚ the paper lists 11 different ways to generate cash. Here are 22 ways to generate black money: Manipulation of accounts 1. Out of book transactions: Not entering transactions that might result in taxation into the book of accounts. The taxpayer either maintains no book of record or reports partial transactions only. 2. Parallel book of accounts: Adopted by those who are obliged under law to maintain books of account. The taxpayer maintains one
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So dividend income is treated the same way‚ and is taxed at the same rate‚ as income from working. If the Bush plan becomes law‚ dividend income will no longer be added to an investor’s total income. As a result the dividends become exempt from taxation. The exact details of the plan are not currently known‚ because it has not been debated or passed by Congress yet. As well‚ there is some uncertainty as to how the government will define "dividend" and what exemptions‚ rules‚ and loopholes will be
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CHAPTER ONE 1. BACKGROUND OF STUDY Taxation plays a very important role in the economic life of a developing country like Nigeria. Today Nigeria is indeed in need of effective and efficient tax system in order to generate enough revenue that will finance economic growth and development. There is the urgent need in the country to evolve new approach for handling various tax issue dealing with both compliance and planning work. The use of Tax in National development is increasing and further
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