TAXATION An involuntary fee levied on corporations or individuals that is enforced by a level of government in order to finance government activities. TAXES Compulsory monetary contribution to the state’s revenue‚ assessed and imposed by a government on the activities‚ enjoyment‚ expenditure‚ income‚ occupation‚ privilege‚ property‚ etc.‚ of individuals and organizations. A fee charged ("levied") by a government on a product‚ income‚ or activity. If tax is levied directly on personal or corporate
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International Journal of Accounting and Financial Reporting ISSN 2162-3082 2012‚ Vol. 2‚ No. 2 Analysis of Tax Formation and Impact on Economic Growth in Nigeria Ebiringa‚ O.T (Corresponding author) Management Technology Federal University of Technology‚ Owerri‚ Nigeria E-mail: otebiringa@yahoo.com Emeh Yadirichukwu Department of Accounting Federal Polytechnic Nekede‚ Owerri‚ Nigeria E-mail: diriolisa@yahoo.com Received: October 17‚ 2012 Accepted: December 13‚ 2012 DOI: 10.5296/ijafr
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PAPER F6 TAXATION (UK) P R A C T I C E & R E V I S I O N K I T FA 2012 BPP Learning Media is the sole ACCA Platinum Approved Learning Partner – content for the ACCA qualification. In this‚ the only Paper F6 Practice and Revision Kit to be reviewed by the examiner: We discuss the best strategies for revising and taking your ACCA exams We show you how to be well prepared for your exam We give you lots of great guidance on tackling questions We show you how you can build your own
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Taxation of U.S. Non-Resident Aliens and Foreign Corporations Baker College of Muskegon Elizabeth Lamas Taxation of U.S. Non Resident Aliens and Foreign Corporations Throughout this quarter we have learned how different entities are taxed‚ but we have not learned how foreign corporations and nonresident aliens are taxed. The purpose of this research paper is to discuss the basic concepts of how these two entities are taxed in the United States. A foreign corporation is any corporation that
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Question 1. One of the important concepts in Canadian taxation is integration. Discuss the mechanisms built into the Canadian tax system for Canadian controlled private corporations to allow for integration. In your discussion‚ include the taxes put into the system to prevent deferral‚ the dividend gross-up and dividend tax credit prior to 2014 and for tax years after 2013. Discuss both investment income and business income. Question 2. Memo To: Staff Accountant From: Manager
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LWB364 INTRODUCTION TO TAXATION LAW SEMESTER 1‚ 2011 LINA TERRESA BUI 1 Lina Terresa Bui RESIDENCE 2 Lina Terresa Bui STATE THE ISSUE The issue which arises on the facts is whether the [taxpayer] is a resident for tax purposes. BACKGROUND The general jurisdictional rules provide: Residents are assessed on their ordinary income and statutory income from all sources (ss 6-5(2)‚ 6-10(4) ITAA97) Foreign residents are assessed on their ordinary income and statutory income from
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I. Background of the case Marie Luna is a human resource management major who graduated from the University if the Philippines in Iloilo City. She decided that she would really like to work in the business and see if she could learn the business and contribute to its success. Her Family owns Dependable cleaners (DC)‚ a laundry/ dry cleaning business. It provides laundry and dry cleaning services not only to residents and restaurant in the areas but to most of the casinos in
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Report No. 83315-PH PHILIPPINE ECONOMIC UPDATE PURSUING INCLUSIVE GROWTH THROUGH SUSTAINABLE RECONSTRUCTION AND JOB CREATION March 2014 Poverty Reduction and Economic Management Unit Philippine Country Office East Asia and Pacific Region Document of the World Bank 1 PREFACE The Philippine Economic Update provides an update on key economic and social developments‚ and policies over the past six months. It also presents findings from recent World Bank studies on the Philippines
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Dear students‚ Please ensure you carefully read the ASIC report and understand the issues as they have detailed. Your assignment shoudl be of a minimum of 2‚000 words but some students may wish to add more. As such‚ there is no maximum. A report is provided from ASIC providing their findings on Audits/auditors for the year 2011-2012. The report highlighted some key aspects of which ASIC were dissatisfied with. You are required to read the report‚ disseminating the key issues and discuss
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EXECUTIVE SUMMARY: Double taxation occurs when a taxpayer is taxed twice for the same asset or income. This happens when taxing jurisdictions overlap and a transaction‚ asset‚ or income amount is subject to taxation in both jurisdictions. When an individual must deal with double taxation‚ he or she may lose a significant portion of income. In some cases‚ this may cause the double-taxed individual to experience a lowered standard of living. Corporations deal with double taxation too‚ as a corporation
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