There is a very clear distinction between tax avoidance and tax evasion from academic publications. Tax books have defined tax avoidance as “the lawful minimization of tax liability through sound financial planning techniques‚ while tax evasion is the “unlawful attempt to minimize tax liability through fraudulent techniques to circumvent or frustrate tax laws”. The consequences of either action are also clear. The former is not punishable by law while the latter is. However‚ the lines between evasion
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are again making history: for the past 15 years‚ we have been trying to reform the tax structure of imposing excise tax on tobacco and alcohol products. After 15 long years‚ we have finally succeeded.” “As the people’s servant‚ I shall personally ensure that this government shall implement the Sin Tax Reform Act of 2012 in a transparent and accountable manner starting Jan. 1‚ 2013‚” he said. Starting today‚ the tax on cigarettes packed by hand‚ which comprise the bulk of tobacco products sold in
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DEFINING PUBLIC ADMINISTRATION When people think about government‚ they think of elected officials. The attentive public knows these officials who live in the spotlight but not the public administrators who make governing possible; it generally gives them little thought unless it is to criticize “government bureaucrats.” Yet we are in contact with public administration almost from the moment of birth‚ when registration requirements are met‚ and our earthly remains cannot be disposed of without
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PUBLIC ADMINISTRATION ( CODE NO. 18) PAPER – I PART - I Administrative Theory 1. Meaning‚ Scope and Significance of Public Administration‚ Public and Private administration‚ Wilson’s vision of Public administrations‚ Evolution of the discipline and its present status. 2. New Public Administration concept of New Public Management‚ Good Governance‚ Concept and application‚ Ethics and Administration. 3. Scientific Management - (Taylor and the Scientific management movement) Classical Theory
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The current tax system that the United States uses contains several flaws. First of all‚ it is very complex. It is comprised of many various variables that can create loopholes. These loopholes can cause two equal income families to be paying very different tax rates. In fact‚ there are 480 different types of tax forms (Website). The current tax system is also very unfair for the wealthy. Because it is a progressive tax‚ it is higher for people who have higher incomes. People should not
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versatile and competitive. It’s a part of the Indian economy is still untouched by privatization. After 1991‚ many companies tried jumping in the LPG market but could not survive against Government OMCs like IOCL‚ HPCL and BPCL. The reason behind such failure is the heavy subsidy given by the Government in domestic LPG. The commercial and Industrial LPG is unsubsidized because of which companies like RIL and Assar are giving tough competition to PSUs in this section. Heavy subsidy on domestic LPG creates
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the Rich Are Getting Richer and the Poor‚ Poorer” by Robert Reich‚ the authors explain how people lose their jobs because labor in other countries is cheaper and companies will want to make the most profit at the lowest cost. Some key forces behind the gap between the rich and poor are the practice of globalisation‚ the growing problem of inequality‚ and the need for an education. Globalisation is a process of rapid economic integration driven by the liberalization of trade‚ investment and capital
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dividends account is closed to the Income Summary account in order to properly determine net income (or loss) for the period. 10. After closing entries have been journalized and posted‚ all temporary accounts in the ledger should have zero balances. 11. Closing revenue and expense accounts to the Income Summary account is an optional bookkeeping procedure. 12. Closing the dividends account to Retained Earnings is not necessary if net income is greater than dividends during
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Personnel Administration This lesson complies with the following course outcomes: CO 3: To analyze the policy and decision making process in public administration CO 5 : To discuss the importance of ethics in public administration Synopsis While the country’s public administration is considered an important machinery of the government‚ the people; men and women who devote their time more than eight hours a day are the key to successful public service. The public administrators of any country
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CHAPTER ONE INTRODUCTION 1.1 Background of Study The petroleum industry in Nigeria is the largest industry and main generator of GDP in Africa’s most populous nation. Since the British discovered oil in the Niger Delta in the late 1950s‚ the oil industry has been married by political and economic strife due to a long history of corrupt military regimes and the complicity of multinational corporations‚ notably Royal Dutch Shell. However it was not until the early 1990s‚ after the Nigerian
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