TAXATION AND FISCAL REGULATIONS IN NIGERIA INTRODUCTION The Nigerian Tax System has undergone significant changes in recent times. The Tax Laws are being reviewed with the aim of repelling obsolete provisions and simplifying the main ones. Under current Nigerian law‚ taxation is enforced by the 3 tiers of Government‚ i.e. Federal‚ State‚ and Local Government with each having its sphere clearly spelt out in the Taxes and Levies (approved list for Collection) Decree‚ 1998. Of importance at this juncture
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INFORMATION SYSTEMS ROLE IN GREEN ECONOMY. Green Economy: We depend on the earth’s natural resources that have a limited capacity to regenerate and renew itself‚ forcing us to design an economic model which is good in conserving energy‚ natural resources‚ reducing emissions‚ reducing pollution and at the same time providing jobs to people. This kind of a design leads to the Green Economy which is a clean energy economy. It aims in providing: Renewable energy sources such as wind and solar energy
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The Role of Business in the Economy Michelle Peters Milton Lawler‚ Ph.D. Business 100 – Introduction to Business February 22‚ 2013 Abstract What is the role of business in economic development? Some might say that business is the lifeblood of any economy. This is because businesses provide benefits to an economy in ways like job creation‚ the payment of a good portion of a region’s taxes‚ and the use of local resources. This cycle continues as the people employed by these businesses contribute
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Commissioner vs. Pineda‚ 21 SCRA 105 When Atanasio Pineda died‚ his estate was divided among his wife and their 15 children. The eldest among the 15 children‚ Atty. Manuel Pineda had a share of P2‚500 but the BIR found out that the income tax return of the estate for the years 1945‚ 1946‚ 1947 and 1948 was not filed‚ so the collector of Internal Revenue issued an assessment and charged the full amount to the inheritance. The issue here is‚ can the Bureau of Internal Revenue collect the full amount
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TAXATION LAW I. General Principles POWER OF TAXATION TAXATION – power by which the sovereign through its law-making body raises revenue to defray the necessary expenses of government from among those who in some measure are privileged to enjoy its benefits and must bear its burdens. Two Fold Nature of the Power of Taxation 1. It is an inherent attribute of sovereignty 2. It is legislative in character Extent of Taxing Power Subject to constitutional and inherent restrictions
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Through Republican ideas‚ the rich will get richer‚ and the poor will only get poorer. Today‚ Republicans argue that the government is playing too big of a role in the economy. There has been much debate over the government’s role in the economy during economic downturns‚ but the economy will only prosper if the government plays a significant role trying to recover from a recession‚ or even a depression. Safety-net programs and social welfare helps families fight poverty during economic downturns
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[2008] NZSC 115; [2009] 2 NZLR 289; (2009) 24 NZTC 23‚ 188 (SC). BNZ Investments Ltd v Commissioner of Inland Revenue (2009) 24 NZTC 23‚582 (HC). Books and Chapters in books Robert Vosslamber New Zealand Taxation 2013 (1thed‚ Brookers Ltd‚ Wellington‚ 2013). [ 4 ]. Robert VosslamberNew Zealand Taxation 2013 (1thed‚ Brookers Ltd‚ Wellington‚ 2013) at [24.8.2].
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What is the Real Role of the Fed in the Economy? Monetary Policy Cause and Effect EC301 Intermediate Macroeconomics 5 May 2013 The current status of the United States economy is a common discussion or topic in today’s media and in many individuals’ households. The state of the economy affects us all in nearly every aspect of our lives. Whether you’re grocery shopping‚ buying gas‚ registering your children for school‚ or exploring insurance rates‚ the economy has an effect on the bottom
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The role of banks in an economy One think one knows what a bank is and what it does. And not without reason: most people have had experience of at least one bank‚ even if it is only through having a salary account or withdrawing cash from an ATM. A bank’s activities in all its divisions can basically be simplified as follows: it transfers money and information‚ and in doing so transforms money‚ maturities and risks. Some of the example of four lines of a bank’s business to examine how it does this
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The Nigerian Culture of Scamming and How it Came to Be Many Americans have very limited knowledge of Nigeria. People tend to know little regarding the country’s history or its current affairs‚ and hold the nation to a common image. This image of Nigeria can generally be narrowed down to poverty‚ corruption‚ and the scamming that is operated out of the country. While Nigeria is worthy of much more than a three-word summary‚ there are reasons why the country has earned this reputation. Poverty
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