fair tax: towards a modern tax system The Smith Institute The Smith Institute is an independent think tank that has been set up to look at issues which flow from the changing relationship between social values and economic imperatives. If you would like to know more about the Smith Institute please write to: Telephone +44 (0)20 7823 4240 Fax +44 (0)20 7823 4823 Email info@smith-institute.org.uk Website www.smith-institute.org.uk fair tax: towards a modern tax system The Director
Free Tax Taxation
ECONOMICS CASE STUDY ASSIGNMENT: Corporate Social Responsibility What in it for business? Introduction Within the last two decades awareness of the ecological impacts of human activities has grown considerably. Nowadays‚ people expect companies to be conscious regarding their public and ecological responsibilities against society and conform their businesses in compliance with their obligations. My case study assignment will be structured as follows: it will start with
Premium Corporate social responsibility Social responsibility Pigovian tax
TAX MANAGEMENT [pic] LESSONS FROM HISTORY Lessons From History [pic] Taxes are as old as recorded history. They are mentioned in ancient Sumer around 3‚000 B.C. Tithing‚ the practice of pledging ten percent of one’s wealth‚ was commonly practice among ancient peoples and still is used today by some religious groups in the United States. Rome collapsed when taxation reached fifty-two percent and when taxes imposed on the colonies reached twenty-three percent‚ that was considered
Free Tax
------------------------------------------------- Tax Research Memo: Entity Selection Issue FROM: Mark J. Sobanski‚ CPA TO: Penelope‚ Mark and John. DATE: April 15th‚ 2013. SUBJECT: Entity Selection for the new business. Issue/ Considerations: It is desired to study the issue of how should the new business to be started by Penelope‚ Mark and John be structured? The related tax and non-tax considerations are as follows – I. The different forms of organization available to Penelope‚
Premium Limited liability company Corporation Tax
TAXATION RATING 6/10 advantages: -Higher price --> less supplied and consumed of demerit goods. Increase in consumer welfare. -Government gains revenue. -Tax receipts can be used to further help with problem e.g. Taxing alcoholic drinks and using the receipts to add funding to the NHS or policing. Disadvantages: -If demand is very income inelastic (e.g. cigarettes) then consumption would not greatly reduce-> potential for black market. If consumption does remain the same then taxation is just
Premium Welfare economics Market failure Externality
problem because the government is the entity that is setting the “cap” on how much emissions and pollution can occur. This is not set by other businesses so it makes it a government solution. Also the government will tax those who go above the set limit and if it was a private solution a tax would not be able to be involved as a consequence. It is also not private because through the trading part of the idea‚ businesses can trade the any amount of pollution that was below their set goal and this was
Premium Economics Externality Pollution
Australian Tax Law BFA714 – Exempt Income BFA714_10 What is income? 2 Key Legislative Provisions ITAA97 • Economist View – Division 6: • • • • • – Traditional economic view of income is that it is a ‘gain’ • Recognises both realised and unrealised gains as income s 6-5 Ordinary income s 6-10 Statutory income s 6-15 Not assessable income s 6-20 Exempt income s 6-23 Non-assessable non-exempt income – Other Relevant Divisions: • • • • • Tax View • Only
Premium Tax Taxation in the United States Taxation
----------------------- ITC PAY Basis SSI – entitled to receive‚ FSI – received in Sg Current a/c interest – accrues evenly over time Fixed Deposit interest – date of maturity 1. Net Acc profit (before dep & tax) Expense Deductible N.D Charge to P/L Nothing Add Not charged Minus Nothing Revenue Taxable N.T Credited to P/L Nothing Minus Not credited Add Nothing Add: 10(1)(a) income not credited to P/L Expense charged for Non 10(1)(a) Less: Non 10(1)(a) income credited
Premium Capital Taxation in the United States Trigraph
Negative Externality Example of negative externality: Air pollution from factory Firm does not bear the full cost of its production‚ so will produce more than the socially efficient quantity How govt may improve the market outcome: Impose a corrective tax on the firm equal to the external cost of the pollution it generates 6 Recap of Welfare Economics P $5 4 3 $2.50 2 1 0 The market for gasoline The market eqm maximizes consumer + producer surplus. Supply curve shows private cost‚ the costs
Premium Externality Market failure Pigovian tax
Mao-Tamasese‚ Paula 20 July 2014 Sanger English 100 "Fat Tax" brings Fat Benefits Junk food. Do any of us know the meaning of the term? Do the consequences of developing lethal diseases not concern us? Apparently‚ today’s society is well aware of what it is‚ (food with a low nutrition value and is usually processed or ready-prepared (Junk Food)) and what it can do‚ yet they prefer not to have truth repeatedly slapped in their face by the media. The way I see it‚ that’s exactly what these
Premium Nutrition Pigovian tax