and levies. It seems that government might have to collect more money either through VAT (Value Added Tax) or from direct taxes. In Bangladesh VAT introduced in 1991 by replacing the sales taxes is still known as the vital reform in Bangladesh revenue structure. The remaining potential sector is the income taxes sharing almost all taxes coming through direct sources. Tax base is too narrow and the tax law is full of exemptions and allowances. Agriculture sector provides employment for around 60percent
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There is a definition of tax in the Webster ’s Dictionary--"...a compulsory payment of a percentage of income‚ property value‚ sales price‚ etc. for the support of a government". In theory the collection of taxation should be fair‚ simple‚ efficient and neutral. Australia inherited a convoluted and complex taxation structure from its British Colonial past. Australia ’s economy has become more dynamic‚ efficient and productive over recent decades. However‚ the tax system has only adapted slowly to
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To Tax or Not to Tax: The Problem of America Money‚ like a cookie‚ is something everybody wants‚ and when it is gone a person blames everybody else for its absence; realizing later they were the one to consume it in the first place. Taxes‚ since the beginning of an organized economy‚ have been argued over for centuries. At the end of 2012 after surviving the “end of the world‚” tax payers were faced with another apocalyptic situation‚ the Fiscal Cliff. It had the potential to raise taxes to outrageous
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A tax system is simply the collection of taxes in an economy. It is a sum of money paid by people or businesses to a government‚ to be used for public purposes. Taxes are raised through various means and the systems vary for each country. The main taxes in the UK‚ USA and Australia will be explained. Countries use the taxes they receive in different ways. Aims and targets of most countries vary‚ as does the amount of tax generated. Due to this‚ expenditure is prioritised and spent accordingly
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(Contact; 2007). By this‚ Tax administrations can mobilize financial resources in order to secure the provision of public services such as education‚ infrastructure‚ health services‚ or social protection. This is to say that revenue administrations occupy a pivotal position in the mobilization of domestic financial resources (Contact; 2007). But over the years‚ many developing countries lack an efficient tax collection system‚ leaving in some cases more than 60% of the tax potential untapped. In these
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empirical research on tax evasion‚ delineating the variety of factors affecting noncompliance and examining possible remedies. Particular emphasis is placed on the institutional and procedural rules governing the tax enforcement policy. JEL classification: K34 Keywords: Tax Enforcement‚ Compliance‚ Taxpayer’s Behavior‚ Tax Gap 1. Introduction Tax evasion is said to occur when individuals deliberately fail to comply with their tax obligations. The resulting tax revenue loss may cause
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is to ensure that all taxpayers‚ within a defined tax jurisdiction‚ are brought into the tax net and assessed correctly in order to block all possible leakages. Generally‚ taxpayers are categorized according to the legal status of their businesses. In this research work we are interested in Corporate Entities/Public Companies which are limited liability companies or public companies registered with profit - motive in mind. Their tax affairs are being handled by the Federal Taxing Authority
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role in the economic life of a developing country like Nigeria. Today Nigeria is indeed in need of effective and efficient tax system in order to generate enough revenue that will finance economic growth and development. There is the urgent need in the country to evolve new approach for handling various tax issue dealing with both compliance and planning work. The use of Tax in National development is increasing and further introduction of new technology will ensure its continued growth and influence
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the developmental cycle and the regressive cycle. The regressive cycle can be defined as the declining level of performance readiness of individuals and groups. It involves an intervention that leaders need to make an individual or a group is becoming less effective. Leaders can recognize a regressive cycle by the shift in a subordinate’s performance. Regressive cycle in a work force hampers growth and development of the workers. When workers enter into regressive cycle there is an extreme decrease
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US History Study Guide 11 characteristics of the Progressive Era. 1. Rising power- well educated of the middle class put business men‚ lawyers‚ social workers‚ doctors‚ clergy‚ educators because the core of the progressive era. Primarily urban the rising middle class had the moral training that stressed a Christian duty to help those less fortunate and devote time to reform efforts. 2. Wide variety of reform efforts- problems ranging from political corruption‚ trusts‚ taxation‚ railroad rates
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