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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Introduction Double taxation arises when an individual or business acquiring income in a foreign country is required to pay taxes on that income in both the foreign country as well as the country of origin. For example‚ an American company operating in a developing country‚ in the absence of a tax treaty between the two countries may have to pay a withholding tax to the government of the developing country‚ as well as corporation tax to the United States government (Howard‚ 2001‚ p. 259). The
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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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Subject: Taxation Topic: Advantages Of Direct Taxes & Impacts Of Indirect Taxes on Corporate sector By: Vrushika Sheth Introduction on Tax To tax (from the Latin taxo; "I estimate") is to impose a financial charge or other levy upon a taxpayer (an individual or legal entity) by a state or
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© 2012 Reed International Books Australia Pty Limited trading as LexisNexis. Ancillary for Understanding Taxation Law 2012 by Gilders‚ Taylor‚ Walpole‚ Burton and Ciro Understanding Taxation Law 2012 by Gilders‚ Taylor‚ Walpole‚ Burton‚ Ciro Suggested answers to Activities and Questions by Tony Ciro Chapter 10: Capital Allowances © 2012 Reed International Books Australia Pty Limited trading as LexisNexis Permission to download and make copies for classroom use is granted. Reproducing or distributing
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CHAPTER 1 Man’s Origin--Where Did I come from? Whenever we are seeking to find out the ORIGIN of something‚ we are asking the question‚ "Where did it begin?" "How did it all begin?" "How did it originate?" "Where did it come from?" In this chapter we are concerned about the origin of man. How did man begin? How did the human race get started? Who are my ancestors? One of the most important questions facing every man‚ woman‚ boy and girl is the question WHERE DID HUMANS COME FROM? How did
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1 License fees 3.7.2 Poll tax 3.7.3 Other o 3.8 Descriptive labels given some taxes 3.8.1 Ad valorem o 3.8.2 Consumption tax 3.8.3 Environmental tax 3.9 Fees and effective taxes 4 History o o 4.1 Taxation levels 4.2 Forms of taxation 5 Economic effects o o 5.1 Tax incidence 5.2 Reduced economic welfare 5.2.1 Cost of compliance 5.2.2
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Canons/Principles of Taxation By Adam Smith: Adam smith‚ the father of modem political economy‚ has laid down four principles or cannons of taxation in his famous book "Wealth of Nations". These principles are still considered to be the starting point of sound public finance. Adam Smith’s celebrated cannons of taxation are: (1) Cannon of equality or ability‚ (2) Cannon of certainty‚ (3) Cannon of convenience‚ and (4) Cannon of economy. (1) Canon of equality or ability: Canon of equality
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International taxation International taxation is the study or determination of tax on a person or business subject to the tax laws of different countries or the international aspects of an individual country’s tax laws. Governments usually limit the scope of their income taxation in some manner territorially or provide for offsets to taxation relating to extraterritorial income. Many governments tax individuals and/or enterprises on income. Such systems of taxation vary widely‚ and there are no
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Homework I believe that we should not have homework.We have 7-8 hours of school every day 5 out of 7 of the week.We have longer then a hour per class for the teachers to teach us what need to teach.Then we get sent home with more work and most of it is just repeating what we learned.The teachers take 7-8 hours of our day and then take more hours just to have us write down what we learned. One reason I think we should not have homework is because we homework every day and we work on it for hours.We
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