Tax & Taxation The term ’tax’ has been derived from the French word taxe and etymologically‚ the Latin word taxare is related to the term ’tax’‚ which means ’to charge’. Tax is an obligatory payment in the part of the citizen without the expectation of any direct benefit. Taxation is the obligation of non-penal‚ yet compulsory transfer of resources from the private to the public sector levied on a basis of predetermined criteria and without reference to specific benefit received. It is one of the
Premium Tax Taxation
Section 1 – Sources of Finance There are 4 main types of business ownership: • Sole trader • Partnership • Private limited company (Ltd) • Public limited company (Plc) Each of these types of business needs to raise finance for capital investment Sole Trader This is a business that is owned by one person. Sole Traders are responsible for raising all the finance to set up and run the business. Usually a sole trader would be for a small business/ (businesses with a flat
Premium Asset Balance sheet Debt
Victimization: An Economic Perspective”‚ mimeo) “In fact the economics of crime interacts with different and heterogeneous fields (i.e. sociology‚ criminology‚ psychiatry and geography). It is closely related to poverty‚ social exclusion‚ wage and income inequality‚ cultural and family background‚ level of education and other economic and social factors that may affect individual’s propensity to commit crimes such as cultural characteristics‚ age and sex. “ A spatial analysis of neighborhood crime
Premium Crime Criminology Economics
TAXATION MODULE What is tax? Why tax is levied? In Indian economy‚ the Government plays crucial role by making heavy investments/expenditure on core areas like heavy industries‚ infrastructure‚ defence‚ internal security‚ education‚ poverty alleviation‚ employment generation‚ health etc. For this purpose‚ the Government raises funds by levying various taxes‐ direct and indirect‚ other receipts and also borrows from the market. Different types of tax: For the above
Free Tax Taxation Income tax
sustained increase in real GDP increases a nation’s standard of living providing that output rises faster than the total population. However it must be remembered that real income per capita on its own is both an inaccurate and insufficient indicator of true living standards both within and between countries. National income data can be used to make cross-country comparisons. This requires * Converting GDP data into a common currency (normally the dollar or the Euro) * Making an adjustment to
Premium Purchasing power parity Gross domestic product Economics
Western Connecticut State University Income Inequality in America “The proliferate gap separating the penniless from the gilded” Kristen Dakin ECO 101: Principles of Microeconomics Professor David Barber April 7th‚ 2014 The exponentially growing gap that separates the affluent from the rest of society in America has become a truly daunting statistic. According to data collected by the IRS‚ the World Top Economics Database asserted that in 2010‚ the
Premium Wealth Poverty Capital accumulation
Income Statement of the Air Asia for the quarter end 31/3/2014‚ 30/6/2014 and 30/9/2014 First quarter 2014 (1Q14) The Group recorded revenue of RM1302.4 million for the quarter ended 31 March 2014‚ 0.1% higher than the revenue of RM1300.8 million recorded in the quarter ended 31 March 2013. The revenue growth was supported by a 4% growth in passenger volume while the average fare was down 9% at RM164 as compared to RM180.achieved in first quarter of 2013. Ancillary income per passenger was increased
Premium Revenue Generally Accepted Accounting Principles Cash
Week 2 Sources of Finance 1) Introduction It was explained in week 1 that this week’s lectures will focus primarily on institutions that provide finance. Finance has been defined by Chadwick and Kirkby (1995‚ p 38) in their book Financial Management (first edition‚ publisher Routledge) as a “system of costs and risks”. As we will see throughout the course‚ the notion of risk from an investor’s point of view is related to whether there is the accrual of the financial returns that are anticipated
Premium Stock Stock market Bond
accounting principles. Profits can be changed easily by using certain accounting methods or manipulating accruals. When discovered‚ this information will have a negative effect on a company ’s share price and its reputation in general. Methods of Income Smoothing In order to present a more positive result to shareholders and a more favorable view of company’s results‚ numerous methods exist that can be used by accountants. Most methods are achieved by using book entries. The Depreciation Method
Premium Balance sheet Generally Accepted Accounting Principles
Should the Federal Tax on gasoline increase to help pay for public transportation and road improvements? Gas companies shouldn’t raise their taxes based on the need for money for public transportation because many citizens who live in the U.S. use public transportation instead of buying gas. By them not having to buy gas that will cause those who don’t use public transportation to be forced to pay for something that they don’t use. While doing so those who use the public transportation may reap
Premium Automobile United States Petroleum