Report No. 83315-PH PHILIPPINE ECONOMIC UPDATE PURSUING INCLUSIVE GROWTH THROUGH SUSTAINABLE RECONSTRUCTION AND JOB CREATION March 2014 Poverty Reduction and Economic Management Unit Philippine Country Office East Asia and Pacific Region Document of the World Bank 1 PREFACE The Philippine Economic Update provides an update on key economic and social developments‚ and policies over the past six months. It also presents findings from recent World Bank studies on the Philippines
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Progressive taxation rates are unethical and need to be changed. The media likes to say the rich need to pay their fair share and I will show that if everyone paid the same percentage of their income without all the loopholes the current tax system has the government would be better off. This is an ethical issue that needs to be addressed by our current and future leaders to help eliminate the extraordinary amount of debt our country currently has to reimburse. Utilitarianism is that an action
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Unfair Taxation: Why Should the Few Support the Many? Ricky Wiggins Strayer University Professor Priscilla Patten English 215 Research and Writing 5 May 2012 Unfair Taxation In the economy today a large number of Americans do not pay Federal Income Tax. This is not fair to the citizens who are required by law to pay taxes. Why should only half of the country bear the burden of paying taxes to support the United States? Every person living in America needs to stand up‚ take responsibility
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LWB364 INTRODUCTION TO TAXATION LAW SEMESTER 1‚ 2011 LINA TERRESA BUI 1 Lina Terresa Bui RESIDENCE 2 Lina Terresa Bui STATE THE ISSUE The issue which arises on the facts is whether the [taxpayer] is a resident for tax purposes. BACKGROUND The general jurisdictional rules provide: Residents are assessed on their ordinary income and statutory income from all sources (ss 6-5(2)‚ 6-10(4) ITAA97) Foreign residents are assessed on their ordinary income and statutory income from
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EXECUTIVE SUMMARY: Double taxation occurs when a taxpayer is taxed twice for the same asset or income. This happens when taxing jurisdictions overlap and a transaction‚ asset‚ or income amount is subject to taxation in both jurisdictions. When an individual must deal with double taxation‚ he or she may lose a significant portion of income. In some cases‚ this may cause the double-taxed individual to experience a lowered standard of living. Corporations deal with double taxation too‚ as a corporation
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TAXATION AND FISCAL REGULATIONS IN NIGERIA INTRODUCTION The Nigerian Tax System has undergone significant changes in recent times. The Tax Laws are being reviewed with the aim of repelling obsolete provisions and simplifying the main ones. Under current Nigerian law‚ taxation is enforced by the 3 tiers of Government‚ i.e. Federal‚ State‚ and Local Government with each having its sphere clearly spelt out in the Taxes and Levies (approved list for Collection) Decree‚ 1998. Of importance at this juncture
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Taxation and the Internet With the rising popularity of online shopping‚ many state governments are growing more and more concerned with the lack of proper law governing taxation. A typical‚ traditional purchase requires payment of state sales tax at the point of sale but with online purchasing this location is nonexistent. Since buyers and sellers are located anywhere in the world is becoming increasingly harder to establish law requiring the payment of sales tax. Regardless‚ many states are
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I. Background of the case Marie Luna is a human resource management major who graduated from the University if the Philippines in Iloilo City. She decided that she would really like to work in the business and see if she could learn the business and contribute to its success. Her Family owns Dependable cleaners (DC)‚ a laundry/ dry cleaning business. It provides laundry and dry cleaning services not only to residents and restaurant in the areas but to most of the casinos in
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Question Write an analysis of the developments of the taxation system in Zimbabwe from pre to post colonial Zimbabwe (25) The tax system currently enforced in Zimbabwe under the authority of the Income tax Act Chap 23.06 with Acts like the Capital Gains Act Chap 23.01‚ Finance Act Chap 23.04 and the Excise duties Act as complimentary. The system evolved from traditional ideologies perpetuated from
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Table of Contents Chapter 1 1 Theoretical considerations about 1 taxes and fees 1 1.1. General Considerations about Taxes and Fees 1 1.2. Direct taxes 3 1.2.1. Profit Taxes 4 1.2.2. Salary (payroll) taxes 6 1.2.3. Dividend taxes 7 1.2.4. Local taxes 8 1.3. Indirect taxes 9 1.3.1. Value Added Tax 11 1.3.2. Duty 13 1.3.3. Excise 14 Chapter 2 – S.C. Sarten S.R.L. 16 Company presentation 16 2.1. Short history 16 2.2. Organizational
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