I remember reading a poem a few years ago. It was very thought-provoking. The poem was called Dream Deferred by Langston Hughes. Hughes paints a picture of what might happen to a dream if it is postponed for too long. This idea is the overall theme of the poem and it is what unifies and connects the poem as a whole. It provides a series of answers to the question‚ “What happens to a dream deffered?” The lines that follow the first question are presented as different similes. He wonders if these
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Tax Avoidance Analysis Tax Avoidance is a legally manipulation for the corporations to lower their tax bill by structuring transactions‚ is also called tax planning. Different with Tax Evasion‚ the Tax Evasion is Criminal and completely illegal. And in generally‚ company which have more profit should have higher tax rate‚ but with the growth of the company‚ many tax avoidance strategy were used by management as result of minimize the tax bills and also without obey the law‚ There are 3 strategies
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Assessable income=ordinary income + statutory income. Ordinary income: income deriving from the courts (s6-5) Negative propositions: items that are not income by ordinary concepts: 1.Amounts not convertible into money :In Tennant v Smith (1892) free accommodation provided to a bank manager was held not to be ordinary income because building could not be sub-let and the benefit thereby converted to money. In FCT v Cooke & Sherden (1980) an incentive prize offered by a manufacturer was not income of the
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“Income Tax Structure in Bangladesh and Taxation of a Non-Corporate Individual taxpayer” LETTER OF TRANSMITTAL Date: Prof. Y School of Business‚ Z University. Subject: Assignment on “Taxation on a Non-Corporate Individual taxpayer‚ Asst. Year 2014-2015. Dear Sir‚ It is my pleasure to submit the report of my assignment on “Taxation on a Non-Corporate Individual taxpayer‚ Asst. Year 2014-2015”. As an instructor and advisor to the report‚ you provided valuable insights to improve the
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Professional and Business Income In this article we will discuss about Professional and Business Income and as interpreted by the Indian Tax Department. We will understand what the Professional and Business income means by definition‚ identify key differences between the two and how each are interpreted by the Indian Tax Department. What is Business and Professional Income? A business income is earned from trade‚ commerce‚ manufacture or earnings gained from invested capital on properties
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scope of charge to income tax A modern form of income tax was introduced into Federation of Malaya in 1947 by using the derived and remittance basis. Income Tax Act (ITA) 1967 came into effect has imposed world income basis on the resident company involved in specialized industries. Malaysia adopted a territorial and remittance. With effect of year of assessment of 2004‚ taxation basis amended to exempt income remitted into Malaysia from oversea. Until now‚ Malaysia income tax imposed on territorial
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Definition of Tax Evasion: Tax evasion usually entails taxpayers deliberately misrepresenting or concealing the true state of their affairs to the tax authorities to reduce their tax liability and includes in particular dishonest tax reporting‚ such as declaring less income‚ profits or gains than actually earned or overstating deductions‚. It is an illegal practice where a person‚ organization or corporation intentionally avoids paying his/her/its true tax liability. Examples of practices which
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trend will highlight a pattern of number and their annual alteration reflected on McDonald’s Corporation Balance sheet and Income Statement over the last four years. Over the last four years the McDonalds income statements have been showing an array of fluctuations on its: revenues‚ operating income‚ net income‚ and its earnings per share. The revenues; more specifically‚ sales from corporate operations
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TAX AVOIDANCE vs. TAX EVASION From the time taxes were first imposed on American citizens‚ people have been trying to find ways to escape paying them. While some taxpayers continue to find legal ways to avoid paying a portion of their taxes‚ others simply choose to evade taxes or not pay them at all. Avoiding taxes and evading taxes may sound like similar actions‚ but the two terms have very different meanings. Avoiding taxes can be accomplished though various legal means‚ whereas evading taxes
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company will take a few years to become profitable. The company will either go public or sell to large retailer after grow. The company has asked us to research what kind of entity to form. A business may choose to operate as either a C corporation‚ an S corporation‚ a limited liability company‚ a limited partnership‚ or a general partnership. “A general partnership‚ the liability of each partner for partnership debts is unlimited. Thus‚ these partners are at risk for more than the amount of their
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