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Value Added Tax
10 pages (2500 words)
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The intimacy of economies, particular those subject 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.
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Value Added Tax in European countries
4 pages (1000 words)
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Value Added Tax in European Countries At the time of the creation of the European community, the original six member states were using different forms of indirect taxation, most of which can be described as cascade taxes (Export VAT, Recovery Services, 2009).… It was evident that if there was ever going to be an efficient single market in Europe, a neutral and…
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Public Finance-The Value-Added Tax: Is It Good for the United States
6 pages (1500 words)
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PUBLIC FINANCE-THE VALUE-ADDED TAX: IS IT GOOD FOR THE UNITED STATES? 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).…
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Memorandum explaining the discussion of merits of Congress adopting a federal Value Added Tax
6 pages (1500 words)
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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 SBT was developed in as early as 1975. The framework of SBT can be scrutinized to understand the practical implementation of the VAT scheme in…
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Tax Research
2 pages (500 words)
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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… Inherently, the Democratic Party openly endorses a tax system that will see the wealthiest, together with corporations pay their fair share of tax. Moreover, they are…
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VAT Tax - Theory of Levying
3 pages (750 words)
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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.… The main advantage of VAT is the…
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Economic Effects of X-Tax
3 pages (750 words) , Download 1
Economic effects of X-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.…
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Tax Assignment
7 pages (1750 words) , Download 2
This provides them permission to run their business in the home country or elsewhere and get necessary support from the authorities. Before… r shareholders as the business is treated as separate entity and hence there is no personal liability of any partner / shareholder towards creditors of the company. Corporate profits will be taxed at corporate tax rate…
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Tax competition V Tax Harmonization in an enlarged European Union
4 pages (1000 words)
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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… Some people believe tax harmonization creates unity and a level playing field, some believe its stifles competition and creates a socialist economic bloc. In this thesis I will examine both sides of…
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Replacing the income tax with a national sales tax
6 pages (1500 words)
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The current issue of great concern for stakeholders throughout the American society is with respect to updating and ultimately improving the current tax code. Many suggestions have come to light over the past several decades for the ways in which this could take place.… As might be expected, one of the reasons for why a value added tax/sales tax/”fair tax” has…
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Tax Allowances in Petroleum Industry
20 pages (5000 words)
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All governments try to attract foreign investment to develop their natural resources sector. This is seldom easier said than done since such attempts need a holistic approach rather than a segment by segment incentive. Governments should be committed to create a conducive atmosphere suitable for the investors together with a cooperative and transparent administration coupled with speedy redressal of problems.…
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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)
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VAT is charged at different rates on different products. Some products are exempt from VAT altogether and such goods largely include items that are… VAT is calculated by the involvement of input and output tax. Input tax is the tax incurred on purchases. Output tax is the tax incurred on sales. Input tax is off-set by the output tax and the difference becomes…
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Income Tax and Corporation Tax
9 pages (2250 words)
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In this paper the researcher will be mostly focusing on income tax and corporation tax. The researcher of this essay aims to pay special attention to income tax and corporation tax in such issues: scope, taxable income, tax rates and tax period.… Under the finance act 2010/2011, there are three types of rate bands, basic rate, higher rate and additional rate.…
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International Law - tax system
8 pages (2000 words)
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According to the answers.com, the definition of taxation is described as, the amount levied on the citizens or the companies of the country by the governments of the respective countries (Mifflin, 07). When countries charge their citizens for living in the country and the companies, which are operating in the country, that amount is said to be the tax.…
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Roles and responsibilities of the tax adviser
6 pages (1500 words)
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This paper describes UK tax environment; its types and income. Role and responsibility of a tax advisor has been discussed. After that different method of data collection is presented. Finally, a real life example is taken under consideration and the person's income, amount of income tax payable and net capital gains are determined. … A good example is the…
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Public Finance: Tax Reform Writing Assignment
6 pages (1500 words)
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Public Finance Tutor Date: 1. Would you move towards a consumption tax base, an income tax base, a combination? Tax policies are instruments utilized in levying taxes via imposition of different tariffs in order to apply the built policy.… On the other hand, income, tax deals with income from labor and capital. This means that the higher the level of income…
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Flat Tax in UK
4 pages (1000 words)
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The perception of a "flat tax", a simple tax system that charges a single rate of tax on all income, is rising in fame. It difference apparently by the current systems operated in mainly countries, by dissimilar tax rates depending on the level and type of income or on the individual circumstances of the personage taxpayer. … Central government, however,…
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Journal entry (economics topic)
1 pages (250 words)
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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… erefore, given that in times of economic crisis there is decreased tax revenue it became important to establish measures to resolve decreased revenues as a result of decline in profits, incomes,…
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Critique The Mommy Tax by Ann Crittenden
2 pages (500 words)
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Perhaps the most overarching quote within Crittenden’s text is when she states, “The point being made was that 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 &… Notably, Crittenden’s perspectives in regards to this statement extend beyond these earlier…
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Describe the methods used to calculate value added. How does value added contribute towards understanding the connections betwee
5 pages (1250 words)
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Value Added Name Institution Value Added The determination of value added involves various methods of calculation, which are compatible with the different definitions that attend to the concept. Although the concept remains the same, certain accounting approaches tend to exclude more items in the calculation than others, which often lead to different results.…
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Income Tax and Corporation Tax in the United Kingdom
15 pages (3750 words)
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The researcher of this essay aims to examine the main rules that govern Income Tax and Corporation Tax in the United Kingdom. It outlines the main components of these taxes and the obligations of the taxpayer in fulfilling his obligations to HMRC.… The paper tells that historically, taxation in Britain was collected from serfs who paid rent to their landlords…
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UK Tax System
13 pages (3250 words)
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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 discusses its benefits and its disadvantages of the current tax system that studies its implication for future tax reforms. … With the government's source taken from…
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Tax Advice Assignment
7 pages (1750 words)
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TAX ADVICE Taxation is one aspect of business which is a liability of a company to pay the government an amount based on the business turnover. This provides them permission to run their business in the home country or elsewhere and get necessary support from the authorities.… Retaining GBP 30,000 per year in business Moving on to the first aspect, what are…
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Russian taxation and tax optimization schemes
8 pages (2000 words)
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of submission Topic: Russian taxation and tax optimization schemes Introduction The Russian Tax Code regulates taxes in Russia. The taxes include the federal taxes and levies which consist of VAT, excise duty, personal income tax profit tax among others.… Tax optimization schemes can therefore be said to be the structuring and organizing of a company’s or…
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Business Tax
7 pages (1750 words)
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Generally, Great Britain and Hodge (2014) explains that the HMRC considers an organization or a company ‘active’ for purposes of Corporation Taxes when it starts carrying on a business activity, receives income or is trading. On the other hand, the HMRC may consider an… on, whether an activity is considered as trading or non-trading depends on the specific…
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