safeguard the collection of taxes in Pakistan 1. Federal Board of Revenue (FBR) By the enactment of FBR Act 2007 in July 2007 the Central Boards of Revenue has now become Federal Board of Revenue. Their work is to enhance the capability of the tax system to collect due taxes through application of modern techniques‚ providing taxpayer assistance and by creating a motivated‚ satisfied‚ dedicated and professional workforce. Governments use different kinds of taxes and vary the tax rates. This
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Question 1: The Rich and the Poor The term poor refers to the people who do not have enough wealth to feed and cloth their families‚ on the contrary the term rich refers to the people who possess wealth and are capable of buying the luxuries for them. Poverty exists everywhere‚ and‚ unfortunately‚ in the third world countries its magnitude is substantial. Every year‚ millions of people in underdeveloped countries die because of starvation or various diseases. (Sen and Foster‚ 2007) It is common
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vertically upwards depending on the amount of tax. Because of this shift‚ less products will be supplied at every price. The diagram below shows the effect of imposing a tax and how the tax is being paid. There’re two types of indirect taxes‚ they are ‘Specific Taxes’ and ‘Ad Valorem’. Specific Tax is a fixed amount of tax that is imposed on a product. For example‚ if the government imposes a tax of $2 per loaf of bread‚ it will shift the supply curve vertically upwards by the amount of tax‚ which
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Ursula M. McIntyre ENG 2001 01 May 15‚ 2012 Marijuana Legalize and Taxed In today ’s society Americans are suffering from increased destruction due to the never-ending war against drugs. Government officials make promising speeches to advocate tougher drugs laws. This war against drugs has not accomplished anything. Legalization and taxing is an option that should be considered to show how legalizing and taxing marijuana will put end to this cycle. It is very important to understand the
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Taxes in India 1. Corporate tax rates: For a Company | Where taxable income exceeds INR 10 million | Other cases | Domestic company | 32.45% (30% + 5% surcharge + 3% education cess) | 30.90% (30% + 3% education cess) | Foreign company | 42.02% (40% + 2% surcharge + 3% education cess) | 41.20% (40% + 3% education cess) | 2. Dividend Distribution Tax Dividend income is exempt in the hands of the shareholders. However‚ a DDT is levied on companies declaring dividends. The effective
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Classification of Taxes Classification of taxes 1. As to subject matter or object A. personal‚ poll or capitation- tax of a fixed amount on individuals residing within a specified territory‚ without regard to their property‚ occupation or business. Ex. Community tax (basic) B. property- imposed on property‚ real or personal‚ in proportion to its value‚ or in accordance with some reasonable method or apportionment. Ex. Real estate Tax C. Excise- imposed upon the performance of an act‚ the
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Public Schools and Sex Education It has become apparent that there is a dire exigency for sex education among young teenagers and adolescents in public schools. Based on statistics from Centers for Disease Control and Prevention‚ birth rate for fifteen to nineteen year olds was at thirty one point three per one thousand population.(1) From two thousand six to two thousand nine‚ undiagnosed HIV‚ one in five cases didn’t know they were infected‚ were thought to be highest among young people ages
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Sin taxes are one of the more controversial taxes out there. They are basically a form of indirect taxation (which has its pros and cons) on goods and services which society considers to be moral ills. As a general rule‚ it is unwise for the government to interfere in people’s lives more than is necessary to enforce the rights of others. Libertarians rightly ask why we should punish people for making decisions about their own lives — even if the majority says we should‚ that doesn’t make it right
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Environmental Taxes in the UK | BEA2002 Group Report Assignment | Ben Dance‚ Liwei Rao‚ Qi Gao‚ Nellie Ho and Ahmed Mujtaba | 1. Introduction 1.0 We have been commissioned by the government to write a report on how the current UK tax system encourages taxpayers to behave in an environmentally friendly manner. In the first part of the report we will look at three elements of the UK system and outline how they encourage environmentally friendly behaviour and in the second part we will compare
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Raising a Baby When raising a baby‚ it is first important to make sure that you are stable and prepared financially. Babies are not cheap‚ and they demand a lot of attention from not just one parent but both parents. According to a 2010 USDA report‚ the average middle-income family will spend roughly $12‚000 on child-related expenses in their baby’s first year of life. By age two‚ parents are up to more than $12‚500 per year. Parents can count on spending close to $50 per week on diapers
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