Critical Assessment of judgement in Inspector of Taxes v. Kiernan Inspector of Taxes v. Kiernan (hereinafter referred to as Kiernan) is a Supreme Court case which‚ at first glance‚ would appear to deal with a rather innocuous question‚ can “pigs” be referred to as “cattle”? The question of whether pigs can be included within the confines of the the term cattle might seem both banal and quite absurd‚ but the judgement on this question has had repercussions for many subsquent cases since this matter
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What do you think would happen if the rich paid more taxes? Would there be a better economy or would it be worse‚ maybe even stay the same. Increasing the taxes would help out our economy in a few ways. one way that it would help out our economy is that not only would there be less of a concentration of profit at the top of our social ladder there would be more revenue for the funding of civil union jobs. Also not to mention causing the larger corporations have to pay more so they would be unable
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High property price affecting rental market BY AIN AQILAH The upcoming MRT developments will change the value of properties How people make decision? In our daily life‚ we face problem and question that require our decision making. Decision making based on economic concept which related with economic activities is very important in our life. The rapid rise in the price of property has caused growing concern among prospective property buyers‚ especially the young professionals who are just
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Assignment 5 (20 points) Assignment 5: Taxes and Credit Instructions Save this file in your course folder‚ and name it with Assignment‚ the section number‚ and your first initial and last name. For example‚ Jessie Robinson’s assignment for Section 1 would be named Assignment1JRobinson. Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day‚ be sure to save your
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pertain to Brookhaven Publishing: * Social Security taxes: 6% on the first $55‚000 earned per employee * Medicare taxes: 1.5% on the first $130‚000 earned per employee * Federal income taxes withheld from wages: $7‚500 * State income taxes: 5% of gross earnings * Insurance withholdings: 1% of gross earnings * State unemployment taxes: 5.4% on the first $7‚000 earned per employee * Federal unemployment taxes: 0.8% on the first $7‚000 earned per employee The company
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Topic 19: Some people think that paying taxes is enough to contribute to the society. Others argue that being citizens involves more responsibilities. Discuss both sides and give your opinion. ANSWER Paying taxes has become a compulsory obligation of each citizen for a long time but in recent years‚ there have some heated debates with many people believing that paying taxes is a work expressing adequately their responsibilities with society. While others clam that it is not enough to become
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Direct and Indirect taxes both have their benefits and disadvantages‚ these factors need to be taken into consideration when thinking about which of these taxes revenue should go towards the improvement of education of the UK workers. Direct taxes are taxes imposed on income‚ wealth and company profits‚ for example income tax‚ national insurance contributions and corporation tax. By using the revenue direct taxation this would allow the governments to estimate how much income tax revenue can
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Philippines is controlled by the Bureau of Internal Revenue (Philippines). Taxes in the Philippines range from 5% to 35%[1] Exceptions 25‚000 Pesos for individuals[1] 30‚000 Pesos for married couples[1] Exceptions for Small and Medium Enterprises with income of less than 100‚000 Pesos Cedula Cedula is a community tax that is paid annually at the Barangay Hall. It is often rated at 5% of income. Value Added Taxes (VAT) In the Philippines‚ the rate of VAT is at 12%. With some additional
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Nulife Corporation: Deferred Income Taxes You are the financial controller of Nulife Corporation and have just come from a meeting of a local civic group. The meeting was an opportunity for you to present and explain your company’s financial statements for fiscal year recently ended. According to the 2006 balance sheet of Nulife Corporation‚ its debt-to-equity ratio was 1.05‚ calculated as $5‚813 $5‚524. Included in the total liabilities of $5‚813 were the long-term deferred tax liabilities
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TAXES AND LEVIES IMPOSED and COLLECTED BY THE PHILIPPINE GOVERNMENT Ma. Ivy V. Fuentiblanca I-BSBA Block 3 Mrs. Galang Economics and Land Reform A. Under the National Internal Revenue Code: 1. Income Taxes It is a tax on a person’s income‚ emoluments‚ profits arising from property‚ practice of profession‚ conduct of trade or business or on the pertinent items of gross income specified in the Tax Code of 1997 (Tax Code)‚ as amended‚ less the deductions and/or
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