Value Added Tax
10 pages (2500 words) , Essay
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...Added Tax (VAT... Introduction The intimacy of economies, particular those to liberalization through multilateral regional agreements such as the European Union (EU), has brought home the impact of legislation and taxation on a new scale. Together with the development of electronic ales and distribution channels, many states and economic organizations have sought to respond to the challenge of governing these non-traditional markets more effectively. At the same time, there is a realization that though the provisions are limited to commerce in the EU, its implications extend beyond the borders of the union. One of the more controversial of these initiatives has been in the modernization of Value Added Ta...
Value Added Tax in European countries
4 pages (1000 words) , Research Paper
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...Added Tax in European Countries At the time of the creation of the European community, the original six member s were using different forms of indirect taxation, most of which can be described as cascade taxes (Export VAT, Recovery Services, 2009). These were the multi-stage taxes which were each levied on the actual value of the output at each stage of the productive process, making it impossible to determine the real amount of tax actually included in the final price of a particular product. As such, there was always potential risk that member states would deliberately or accidentally subsidize exports by overestimating the taxes refundable on exportation. It was evident... that if there...
Public Finance-The Value-Added Tax: Is It Good for the United States
6 pages (1500 words) , Essay
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...ADDED TAX: IS IT GOOD FOR THE UNITED S? Value-added tax (VAT) Value added tax (VAT) or Goods and Service Tax (GST) is an indirect tax in which the tax is imposed on the top of the cost of a product or service. This system was introduced by the tax authority of France, Maurice Laure and it came into effect on 10th April 1954 (EconomyWatch). VAT was introduced to meet the increasing revenue requirements that could not be easily fulfilled by existing turnover taxes and France was the first to adopt VAT however, pace of adopting VAT increased and soon VAT became the requirement for entry to EU (International Tax Dialogue). The structure of VAT varies from country to country... ?PUBLIC FINANCE-THE VALUE-ADDED ...
Memorandum explaining the discussion of merits of Congress adopting a federal Value Added Tax
6 pages (1500 words) , Term Paper
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...Added Tax University Name Subject Name Instructor Name Date of Submission Memorandum Explaining the Discussion of Merits of Congress Adopting a Federal Value-Added Tax Introduction The purpose of this memorandum is to inform about the recent developments in the Congressional policies for the formulation of an integrated federal tax framework with special reference to value-added tax or VAT. The memorandum is aimed to explain the VAT scheme, discuss the current proposals in Congress for the adoption of a federal VAT, and further discuss the policy pros and cons in this regard... ?Running Head: Memorandum Explaining the Memorandum Explaining the Discussion of Merits of Congress Adopting a Federal...
Tax Research
2 pages (500 words) , Research Paper
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...tax system and instead, it calls for a national sales tax or value added tax as the best solution to the country’s budget problems (4). Further, the republicans claim that the move will involve instituting a value added tax, which entails a tax that will confiscate money at different stages of production process. More importantly, Romney also plans to cut taxes by 20 percent, for all as well as do away... Tax research The US federal income tax structures base on models of aggregation in expenditure. Recently, during the presidential campaigns the two main contenders unleashes different tax structures that they propose to implement when they get into power. While Obama is advocating for the increase of...
VAT Tax - Theory of Levying
3 pages (750 words) , Essay
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...Tax - Theory of Levying What is VAT VAT is short for Value-Added Tax, which is a tax on the sale or import of goods. It is paid on the acquisition of raw material and other goods from domestic suppliers. VAT was first introduced on January 1, 1992 and it replaces the 'business tax', and is a utilization of full tax credit, a tax on total consumption expenditure. Presently, in the 143 WTO (World Trade Organization), 126 countries have VAT. Indian Finance Minister Jaswant Singh referred to the VAT as 'a historic reform of our domestic trade tax system' that would take place 'in the highest tradition of cooperative federalism' in his speech for the countries budget. The main advantage of VAT... VAT Tax -...
Economic Effects of X-Tax
3 pages (750 words) , Book Report/Review
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...Tax The current paper posits that the X-tax is the best replacement for the current corporate and personal system of taxation.In arriving at this conclusion, the Retail Sales Tax (RST), the Value Added Tax (VAT), the flat tax as well as the X-tax have been evaluated for suitability on the criterion of simplicity and enforceability, the distributional consequences and their economic impact. The RST and VAT have proven disadvantages in the U.S or in some other country where they are in force. This a good enough reason for not using them as substitutes. The advantage of simplicity of understanding the RST is offset by the glaring loopholes in the taxation system itself which tax... ?Economic effects of...
Tax Assignment
7 pages (1750 words) , Download 2 , Essay
...Added Tax is charged by business houses on the goods and services provided. A VAT rate varies between 0-20percent in UK. The UK taxation laws provide options to reclaim VAT based on purchases made on goods and services, reclaiming VAT on Bad debts etc. (Business Link, 2011) a company/ partnership has to register for VAT if their taxable income is GBP ,64,000 a year . Some of the major benefits by incorporating a company will be : Company makes pension contributions promptly Claiming maximum possible expenses involved related to business as per UK legislation Capital allowances can be claimed if there is a capital expenditure... TAX ADVICE Taxation is one aspect of business which is a liability of a...
Replacing the income tax with a national sales tax
6 pages (1500 words) , Research Paper
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...added tax/sales tax/”fair tax” has not caught on within the United States is due to the fact that a preponderance of negative trade-offs exist with regards to implementing this. As a function of seeking to understand this issue to a more full and complete degree, the following analysis will present the reader with an understanding of the way in which a federal sales tax represents both positive and negative externalities and could ultimately harm many at risk individuals within the current society. Through such a level of argumentation, this particular researcher will seek to expound upon the complexities of a federal sales tax and the manner through which the trade-offs... ?The current issue of great...
Tax competition V Tax Harmonization in an enlarged European Union.
4 pages (1000 words) , Research Proposal
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...TAX HARMONIZATION AND TAX COMPETETITION IN THE EUROPEAN UNION A RESEARCH PROPOSAL INTRODUCTION One of the most controversial of the current issues before the member countries of the European Union is taxation. In all countries of the world taxation is controversial and often an unpleasant subject, but in the EU it is more significant than many because member countries have been forced to give up a major aspect of their sovereignty—the ability to set tax rates at whatever they want—to Brussels, the EU capital, where a minimum fifteen per cent value-added tax is required of all countries. This policy has its...
Tax Allowances in Petroleum Industry
20 pages (5000 words) , Assignment
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...Tax Code which came in to effect from January 1, 2005 brought changes in tax regulations and lowered the economic load of investors considerably. The chief tax heads for companies dealing in the oil and gas sector are Corporate Income Tax, Value Added Tax, Rent Tax on Exports, Royalty, and the Tax of Surplus Profit2. Corporate Income Tax: This tax is applicable for all official units, whether residents or non-residents of Kazakhstan... Tax allowances in petroleum industry and their importance for attracting foreign investment into Kazakhstan and Azerbaijan oil sector of the Writer] [Name of the Institution] Abstract All governments try to attract foreign investment to develop their natural res...
The VAT system is in urgent need of reform. It does not meet the aims of a desirable tax, for example in relation to Adam Smiths cannons of taxation, nor does it achieve any other useful function and it places the burden of tax unfairly on traders and
3 pages (750 words) , Essay
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...Added Tax (VAT) is a tax on value added to the raw materials, goods and services as they are transformed into finished goods. VAT is charged at different rates on different products. Some products are exempt from VAT altogether and such goods largely include items that are basic necessities of life e.g. food items. In UK, the government has the authority to collect VAT in accordance with the Value Added Tax Act 1994. However, the tax collection must be consistent with the Sixth Directive. Otherwise, the Government’s right to collect VAT can be limited. VAT is calculated by the involvement of input and output tax. Input tax is the tax incurred on purchases. Output tax... Taxation Law By Due Value Added...
Income Tax and Corporation Tax
9 pages (2250 words) , Essay
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...tax for the year 2010/2011 is 1st April 2010 to 31st March 2011. Importance of Direct and Indirect Taxes and Its Implications: Direct taxes are those taxes that are levied directly on the tax payers through assessments, for example, income tax and corporation tax. Whereas, indirect taxes are those taxes which are paid indirectly by the end user, for example when the customer pays tax to the retailer and then the retailer pays it to the government such as value added tax (VAT). Direct and indirect taxes can also be classified as income-based and expenditure-based taxes. Direct taxes are relatively more visible to the tax payer as compared to indirect... ?INCOME TAX and CORPORATION TAX Many other countries ...
International Law - tax system
8 pages (2000 words) , Essay
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...added tax or Indirect tax. The services business, as described in the case study cannot be practiced there in the tax free zone as they do not accommodate humans or running businesses, only goods which are tangible. Secondly, the international law does not allow much of the country's internal information leakage to any other state or country (Public Sector Information 08). The business of evaluating the company's growth and the suggesting the ways in which the loss can be shared and the profits can be saved, is a dangerous job. It is because, while the owners will evaluate the business... Running head: International Law and OECD proposal International Law and OECD proposal s According to the...
Roles and responsibilities of the tax adviser
6 pages (1500 words) , Essay
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...Added Tax) and is added already on all legal goods that are being purchased. Excises: Excise does not depend on the quality of the object rather, based on quantity amount of tax payable is calculated. It modifies the consumption pattern of user. If excise in alcohol is made higher then, rate of alcohol consumption will definitely come down. Income Tax: Tax imposed on financial income of the person is known as income tax. Income taxes are also inclusive of the profits of a business if the individual is self-employed. This tax is inclusive of a person's savings in correlation to the amount of money that has been saved... Running head: TAXATION Taxation This paper describes UK tax environment; its types and ...
Public Finance: Tax Reform Writing Assignment
6 pages (1500 words) , Essay
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...tax code? Compliance? With consumption tax base that goes hand in hand with the value added tax it is proportional of consumption but can be regressive on income at higher income levels. Savings and investment becomes tax deferred until the consumption stage hence, making it to be progressive in nature. The consumption tax base may be more effective. Whereby, it can be applied at a point of sale, at this juncture every tax shall be captured, making it easier to administer it to the society (Atkinson p.590). Moreover, the tax rate tends to remain unaffected... ? Public Finance Would you move towards a consumption tax base, an income tax base, a combination? Tax policies are instruments utilized in levying ...
Flat Tax in UK
4 pages (1000 words) , Essay
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...tax, national insurance contributions, value added tax, corporation tax and fuel duty. Definition: "A flat tax, also called a proportional tax, is a system that taxes all entities in a class (typically either citizens or corporations) at the same rate (as a proportion of income), as opposed to a graduated, or progressive, scheme. The term flat tax is most often discussed in the context of income taxes."(Expert Report 2005) At first confined to academic conversation and a few small islands, the flat tax has lately been introduced in numerous of the ex-communist countries of middle Europe, counting latest members... Flat Tax in UK Introduction The perception of a "flat tax", a simple tax system that...
Journal entry (economics topic)
1 pages (250 words) , Essay
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...Added Tax in the Economic Crisis Value added tax was introduced by government to address the shortages of revenue that hindered government operations. It has provided huge percentage of revenue to finance government operations more than any other sectors in the economy. For example, the European Union has VAT receipts amounting to 7% of gross domestic product (Ramona, Ionut, & Cristian, 2011). Moreover, when comparing the total receipt of VAT in total tax Bulgaria has the largest ratio with a 35% of VAT receipts, and Italy having a minimum with 13% (Ramona, Ionut, & Cristian, 2011). Therefore, given that in times of economic crisis there is decreased tax revenue it became important... crisis...
Critique "The Mommy Tax" by Ann Crittenden
2 pages (500 words) , Essay
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...tax’. She believes that social activists should address this added tax in pro-active ways. Crittenden further criticizes this income disparity from a variety of perspectives. She articulates her own experience... Critique "The Mommy Tax" by Ann Crittenden Perhaps the most overarching quote within Crittenden’s text is when she s, “The point being made wasthat American women now make ninety-eight cents to a man’s dollar and have therefore achieved complete equality in the workplace” (Crittenden as cited in Kirk & Okazawa-Re). For Crittenden this statement is significant not simply because what it demonstrates about workplace inequality, but what it also indicates about mother’s in the workplace....
Describe the methods used to calculate value added. How does value added contribute towards understanding the connections betwee
5 pages (1250 words) , Essay
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...added tax is usually attached on items with regard to the level of difference between the selling price and the costs incurred in the production of a particular good or service. At this level, it becomes appropriate to consider some of the concepts that attend to the items considered for subtraction from the selling price. The cost of producing a particular service usually relates to the different kinds of items that combine to form the overheads of a given product or service. Value added is also used in the determination of the size and growth of national economies (Mowen, Hansen, & Heitger, 2012). Combining the total of value added of different systems... ? Value Added Value Added The determination of...
Income Tax and Corporation Tax in the United Kingdom
15 pages (3750 words) , Essay
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...Added Tax and Fuel Duty. All these taxes have different laws and guiding principles. This paper examines the main rules that govern Income Tax and Corporation Tax. It outlines the main components of these taxes and the obligations of the taxpayer in fulfilling his obligations to HMRC. Question 1 The Scope & Core Rules of Income Tax and Corporation Tax Corporation Tax This tax is levied on the profits of businesses. Corporation tax is calculated on the annual income of a business. It was first introduced in the Finance Act 1965. Corporation tax in the UK is currently regulated by the Income & Corporation Tax (1988) and its subsequent amendments. According... ?Introduction Historically, taxation in Britain ...
UK Tax System
13 pages (3250 words) , Essay
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...Tax cuts became a scene in fiscal reforms that has announced reductions in income taxes and simplification of the system which focused on the tax laws themselves without upsetting the current balance of tax burdens or taxes paid by the individual. Alternative tax base system was introduced that basically focused on income, expense and wealth. Income derivatives in the corporate ladder include Value added tax (VAT) and excise taxes while individual income tax has pre... UK Tax System Yvonne L. Academia Research This paper examines the selected elements of British tax policy that discusses the current alternative tax bases that relies on the fundamental aspect on income, expense and wealth. The paper also...
Tax Advice Assignment
7 pages (1750 words) , Essay
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...Added Tax is charged by business houses on the goods and services provided. A VAT rate varies between 0-20percent in UK. The UK taxation laws provide options to reclaim VAT based on purchases made on goods and services, reclaiming VAT on Bad debts etc. (Business Link, 2011) a company/ partnership has to register for VAT if their taxable income is GBP ,64,000 a year . Some of the major benefits by incorporating a company will be : Company makes pension contributions promptly Claiming maximum possible expenses involved related to business as per UK legislation Capital allowances can be claimed if there is a capital expenditure incurred... ?TAX ADVICE Taxation is one aspect of business which is a liability...
Russian taxation and tax optimization schemes
8 pages (2000 words) , Essay
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...Added Tax. These are through granting of exclusive rights of inventions, industrial designs, utility models, software, integrated circuit to databases and production secret of know-how. This is towards supporting the development and modernization activities that lead to the production of innovative products and advanced technologies (Chetty 15-61). The imported goods are subjected to import VAT which is levied at the point of entry by customs. This VAT usually calculated by taking into consideration a percentage of the total value of the goods. There are imported goods that do not attract... ? Topic: Russian taxation and tax optimization schemes Introduction The Russian Tax regulates taxes in Russia. The ...
Business Tax
7 pages (1750 words) , Essay
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...added tax. Speaking engagements- the first speaking engagement is not a trading activity as per the badges of trade because James does not offer any service for sale but is requested to offer a speech. Also, the second speech for which he is offered money for by a company may not be considered as a trading transaction as James does not intend to trade at all (Rowes, 2005). Designer Brand Clothing-the designer brand clothing sale may also not be considered a trading activity. This is because he does it so... Business Tax Part (a) HMRC Framework Generally, Great Britain and Hodge explains that the HMRC considers an organization or acompany ‘active’ for purposes of Corporation Taxes when it starts...
Puerto Rico's Underground Economy And Tax System
9 pages (2250 words) , Essay
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...tax. On the other hand, those aliens with residence in Puerto Rico and who also acquire U.S. source income could be placed under the income tax which is subject under the USIRC. In this case, value added taxes (VAT) or sales taxes are not enforced. Taking the International Law into consideration, Puerto Rico could not partake into any agreements with other countries. Consequently no tax agreements... Puerto Rico Puerto Rico’s Underground Economy and Tax System The United s holds five major commonwealths and possessions. The key possessions are U.S. Virgin Islands, Guam and that of American Samoa. On the other hand the key commonwealths of the United States are the Northern Mariana Islands as well as...
International Tax
10 pages (2500 words) , Case Study
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...added tax, Monaco has to be treated as France hence there are no tariffs that exist between European Union countries and Monaco but this does not mean that Monaco is subject to harmonisation and other non-tariffs measures promulgated by the European Union... Lecturer: Topic: The global art world In recent years there, the world has seen the expansion of fine and decorative arts in theglobal market and a tremendous amount of popular scholarly attention. Some of the merging art markets include china which has been able to surpass art markets that have been well known since the 1950s such as the United States and the United Kingdom1. China now boasts as the second world largest economy and s first place...
TAXATION POLICY AND TAX REFORMS IN VIETNAM
10 pages (2500 words) , Assignment
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...tax reform was began in the late 1990s to align the taxation structure in Vietnam to the international trade agreements. During this period Vietnam joined the ASEAN Free Trade Agreement (AFTA). During this phase, Vietnam was also in negotiation to enter the agreement with World Trade Organization (WTO). The new taxes implemented for the purpose included corporate income tax (CIT) and value added tax (VAT) (Phung, n.d). Along with benefits of the reforms there were two problems which arose in the applying the value added tax (VAT) in Vietnam. These problems included the affect on the ability of management and the other issue... ?TAXATION POLICY AND TAX REFORMS IN VIETNAM INTRODUCTION The taxation policy...
Determinants of Effective Tax Rate in Thailand
11 pages (2750 words) , Research Proposal
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...taxes that are required by the central government, as well as the local taxes required by the local government, are discussed. Furthermore, the author also discusses more recent tax reforms, including the value added tax (VAT), which has replaced the business tax to customs tariff reform. The author also discusses current and modern day issues dealing with taxes, including the concepts of decentralization impediments, direct taxation, indirect taxation, and tax base. After this discussion, the author then proceeds to provide the researcher with a picture of the government's plans. Basically, the government is planning to use more and more technology in while handling taxes, thus... Literature Review ...
Consider and discuss the advantages and disadvantages of the following features of a tax system: a) direct and indirect taxes, b) progressive and regressive taxes. - To what extend they related.
2 pages (500 words) , Essay
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...tax enables businessmen to reduce their costs of operation by passing the impacts to the final consumer by including the value added tax in the final price of a product (Chowdry and Ladds 19). Disadvantages of Indirect tax Indirect tax transfers the burden to the final consumers who in real sense does not bear legal mandate to cater for the tax burden. The production and manufacturing companies transfer the burden of taxes charged on production activities to the employees who end up receiving less income with regard to the real margin. Indirect tax poses negative implications... The UK Tax Policy The history of taxation in the UK started during the war against Napoleon in 1799. Since then the law of...
Effects of No Income Tax Policy on Dubai's Economy
8 pages (2000 words) , Essay
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...tax, as that is one of the most attractive incentives about working in the gulf. A small portion of the profits earned by corporates could be deducted as tax by the government and utilized in times of need. Again, if the authorities think of levying tax at par with global standards right away, it might just drive away the investors and compel them to look for other investment avenues. However, to draw benefit from the huge amounts already invested by the government in tourism, hotels and recreational facilities, it might be pertinent to start levying taxes : maybe in the form of sales tax or value added taxes to help boost and sustain the economy. Sales Tax Sales tax is one... Effects of No Income...
The calculations for the capital gains tax
10 pages (2500 words) , Case Study
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...tax and at the same time contribute your share to the environmental protection (Rothman Pantall & co). Value Added Tax (VAT) Normally the standard rate of VAT for the business with turnover exceeding the threshold limit of 64,000 is 17.5 percent or 747 of the consideration received for making a supply. However there is a concession available in respect of small business with turnover less than 150,000 to opt for a single flat rate scheme. Under this scheme the rate of VAT varies with the type of business. Here... AF3S11 TAX ASSIGNMENT 2007/08 Case of Mr. Darling Letter addressed to Mr. Darling: Dear Mr. Darling Re: Impact of Budget for the year 2008 on your taxable income We have made a review of the ...
Goods and services tax (GST) Assignment
15 pages (3750 words) , Essay
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...tax (GST) came into force as an openbased indirect tax on 1st of July 2000. This open based indirect tax is set at a rate of 10%. This rate can only be changed if every state and territory in Australia agrees, and both Assembly of each Federal Parliament accepts the amendment. Goods and services tax is a legislation act under the new tax system (Goods and Services Tax) Act of 1999. This law is also common in other countries where it is either called GST or VAT (value added tax). GST is said to be indirect and broad based because, it is charged depending on the supply or activities of good and services instead of being charged directly on income... ? Taxation Location Introduction Goods and services tax...
Does the General Sales Tax Impact the Personal Consumption Expenditure?
9 pages (2250 words) , Research Paper
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...added tax because it is only imposed once at the retail level. Different states in United States have different tax rates. There are some jurisdictions in these states that determine the tax rates to be imposed on various goods and services. Goods for manufacture or resale are usually exempted from sales tax. Some other jurisdictions also exempt sales tax on foods sold in grocery shops, agricultural supplies and prescription medications. Sales tax greatly affects the spending of consumers, changes their consumption behavior and marketplace at the household level. 2.0. Literature Review There are many researches that have been done to show how the increase in sales tax affects personal... ?Does the...
Tax system contribution to economic growth
9 pages (2250 words) , Essay
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...taxes are often concentrated along labor, investments and production (Economic Review Committee (ERC), 2012). For instance, the United Kingdom as well as other countries in developed and developing world charges income tax on returns from labor, capital gain tax on capital, excise and Value Added Tax... ? Tax system contribution to economic growth The idea that tax system affect economic growth has not been an issue of economists to divulge in but also policy makers. Policy makers currently consider taxation a major debatable issue as they try to outsmart one another in how to spur economic growth through tax reforms especially tax cuts (Irons, 2009). This is a clear indication of how significant a tax...
Evaluate the recommendation to provide a tax system with a neutral treatment of life-cycle savings for the vast majority of taxpayers (as described in chapter 13).
6 pages (1500 words) , Assignment
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...taxes, value-added tax and the corporation taxes are the largest contributors to the tax receipts of the government (James, 2009, p.74). Thus the modification of the tax structure of UK has implications for the household savings and has affected the life cycle savings of the households. On the same lines, a new higher income rate of 50% has been announced for individuals with income level over 1.47 billion pounds. The tax structure has also removed the income tax personal allowance in order to make for increased payment of taxes by the...
Tax Law
3 pages (750 words) , Essay
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...taxed in the present year, if he has adequate control in the determination of whether the income items will be paid. The tax benefit rule explains that if the taxpayer recovers loss and expense which was written off in the last year income, then the included value should be added to the present year’s gross income. Wherewithal to pay concept explains that tax collected must be done when the taxpayer can effectively and efficiently pay it. For example, appreciation in property values should be taxed in the tax transaction. The beneficial concept to the taxpayer is return of capital... Tax Law Differences in taxable Income components The deductions for AGI are adjustments and also referred to as...
Elasticity
2 pages (500 words) , Essay
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...added tax on cigarettes in order to reduce demand and also contain incidence of increased lung cancer due to smoking. Looking at fig (4) where the current equilibrium price is at three dollars and the quantity demanded is. When the price increases to six dollars, the supply curve  shifts upwards and moves to left to create a new supply curve. This shift and movement show how the markets, specifically suppliers, are reacting... of increase in cigarette price. One can also say due to the fact that the veteran smoker is used to smoking a given number of cigarette packs, changing his or her norm due to price changes will considerably be negligible. Question Four The burden of increased...
Should the UK government restore the 50% additional rate of income tax?
7 pages (1750 words) , Essay
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...added tax (VAT) that were higher. Economists in the country observed that the additional tax changes would irritate 1-2% of the taxpayers affected hence hardly solving the problem. This restoration process will therefore require further painful measures to be implemented. ` Great Britain (2010) stated that the decision to restore the 50% additional income tax rates would in the UK would punish bankers and will therefore make them shift to Geneva. Individuals argued that the plan to raise taxes on the rich only was not about raising money... Income Tax in The UK Income tax is the government levy that is imposed on organizations and individuals that varies with their profits or income (Great...
Corporate Tax Policy comparison between the United States and Ireland: Which policy is more effective in creating jobs and reve
15 pages (3750 words) , Research Paper
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...adding value to the economy. However, the very same economists, the masterminds of the research, suggest that these knowledge based ideas can and will only be effective if the operational rates are reduced. The way forward by the government leaves unanswered questions to its people. First where is the source of capital for generating the new products and second how do they sustain themselves in the economic times with the high rates of taxes imposed. This has discouraged a great number of investors in the United States. The Ireland’s government however has been seen to have different measures all together... ? Corporate Tax Policy comparison between the United s and Ireland: Which policy is more...
Corporate Tax Policy comparison between the United States and Ireland: Which policy is more effective in creating jobs and revenue?
15 pages (3750 words) , Research Paper
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...adding value to the economy. However, the very same economists, the masterminds of the research, suggest that these knowledge based ideas can and will only be effective if the operational rates are reduced. The way forward by the government leaves unanswered questions to its people. First where is the source of capital for generating the new products and second how do they sustain themselves in the economic times with the high rates of taxes imposed. This has discouraged a great number of investors in the United States. The Ireland’s government however has been seen to have different measures all together... effects to the economy of United States unless other reform measures are adopted. As...
Income Tax
8 pages (2000 words) , Assignment
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...tax of car (1200 * 40%) (Note 7) 480 Add: Subscription to Liberal-Democrat Part (Note 8) 250 Add: Donation to Thomas’s son’s school (Note 9) 550 Add: Depreciation (Note 10) 14,600 Add: Flowers taken home by Thomas (520/1.6) (Note 11) 325 Less: Capital Allowance (Note 12) (55,400) Taxable Profit of Business Activities 53,927 Notes to the Taxable Profit of the Business There are quite a few changes that have been made to the original figure provided in the scenario, the reason for the changes made are listed below: Note 1: These incomes have previously been included in the gross profit, originally these incomes should not have been added to the gross profit... ? Income Tax Income tax is defined as the tax...
Tax law
4 pages (1000 words) , Coursework
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...added and netted together as a single entity. The taxation of this pool of assets is tax as a single entity as opposed to two different ones. Low-value pool assets have an opening value that is adjustable for the current season with a value less than a thousand dollars. It also has a diminishing value method is used to calculate the subtractions of the value in the previous year. Software development pool The software has to be used purely for business income that is taxable. The pooled amount includes all the expenditure incurred during the development and commissioning of the software. The deductions take effects after the year... Tax Law By Key Words: Tax Introduction Taxation is the assessment by...
Income Tax
8 pages (2000 words) , Assignment
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...added to the gross profit as these incomes are not related to the Thomas’s business, and these incomes are related to his private investments. These incomes will be catered to in the total taxable income section that will shortly follow and the gain on disposal of the machinery will be discussed in the capital gains section. Note2: Thomas owns the business and thus all the profit he earns from his business is his own, he is not allowed to devote a sum namely as his salary that will qualify as a tax expense. Note 3: Council Tax for Thomas’s house is not related to his business Note 4: Replacement of house... Income Tax Income tax is defined as the tax levied on the earnings of an entity or an individual; ...
Economic Value Added (EVA) Statement
3 pages (750 words) , Research Paper
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...tax (NOPAT) generated in the business. It is a measure of the residual income from the income statement after accounting for the cost of the balance sheet” (Economic Value Added, 2007). How can Economic Value Added (EVA) Statements be used to improve financial statement reporting, results, and success? EVA statements are formed on the basis of two financial statements-the balance... ?Economic Value Added (EVA) ment Affiliation with more information about affiliation, research grants, conflict of interest and how to contact Economic Value Added (EVA) Statement Introduction of Economic Value Added: In order to raise the value of shareholders, today most of the firms are focusing more on the importance of...
Economic Value Added (EVA) STATEMENTS
3 pages (750 words) , Research Paper
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...tax (NOPAT) generated in the business. It is a measure of the residual income from the income statement after accounting for the cost of the balance sheet” (Economic Value Added, 2007). How can Economic Value Added (EVA) Statements be used to improve financial statement reporting, results, and success? EVA statements are formed on the basis of two financial statements-the balance... Economic Value Added (EVA) ment Affiliation with more information about affiliation, research grants, conflict of interest and how to contact Economic Value Added (EVA) Statement Introduction of Economic Value Added: In order to raise the value of shareholders, today most of the firms are focusing more on the importance of in...
The evaluation of the consequence to the UK economy for raising or lowering the inheritance tax rate
40 pages (10000 words) , Dissertation
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...added Tax (VAT) Blow, et al. (2002) described VAT as a proportional tax paid on all form of sales. Companies may deduct any VAT they paid on inputs into their products before reporting annual revenues. Therefore, tax is settled at each stage of the production process, not simply on all expenditure. The rate of VAT is 17.5% which was eventually reduced to 15% because of the recent economic troubles. The reduced rate has since been extended to cover women’s sanitary products, children’s car seats, contraceptives, certain residential conversions and renovations... ?“The Effect of the Increase and Decrease of Inheritance Tax in the UK Economy” Table of Contents Chapter Introduction Objectives of the...
Income Tax
8 pages (2000 words) , Coursework
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...tax payable by Ronni for the tax year 2011/12, providing your own data where none is given, to fully demonstrate your knowledge of income tax. 

Ronni received additional income during the year, comprising: 
ISA interest, £400 
Premium bond winnings of £10,000 
Dividends of £8,000 from shares valued at £100,000 
Part-time earnings as cycle race official, £6,000. Additional income added onto the taxable trading profit would be £124,000. Plus £24,483, this equals £148,483.

 TASK 3 Ronni has asked you for answers to questions as she is keen to reduce her income... Finance and Accounting: Income Tax Word Count: 2,021 (8 pages) SCENARIO 
 Ronni, aged 35, owns and runs a small business from a shop in...
Tax(see attachment)
12 pages (3000 words) , Essay
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...tax (Ackerman and Chorvat 2004). Profit Split Method: This is basically a mathematical approach to split profits of the entire conglomerate among subsidiaries and holding companies in a ratio that corresponds to value added by each such unit. This method is adopted only when no other method is found suitable... International Tax Part I – Company Background The chosen company is an automobile parts manufacturer based in the UK. Its main operation is in the automobile industry. The various products that are manufactured by the company are clamps, belts, motors, chains, control systems, gears, shafts, axle parts, etc that are used in various automobiles. It is a moderate sized company with all its...
Tax Rate in Thailand
5 pages (1250 words) , Research Proposal
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...taxes. Two key components of direct taxes are the personal income tax and corporate tax. On the other hand taxes like excise taxes, stamp duty and value added taxes (VAT) are known as indirect taxes. The modus operandi for calculating these taxes depends upon the revenue generation mechanism being set in place in the country and the level of competition within the industry. The revenue department of Thailand is entrusted with the task of taxation. Main responsibilities assigned to the revenue department are1; Collecting different types of taxes by implementing steps in accordance with the law of the land To prepare strategies in line with the prevailing standards around, so that Thai economy...
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