Productivity Of The Nigerian Tax System: 1970–1990 Ademola Ariyo No RP_067‚ Research Papers from African Economic Research Consortium Abstract: Given the negative impact of persistent unsustainable fiscal deficits on the Nigerianeconomy‚ there is now a consensus among interested parties on the need to address the problem effectively. The literature suggests theree approaches for this purpose: increasein revenue‚ reduction in expenditure‚ or a continuation of both. An appraisal of the budgetary
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Tax Return Position Paper ACC/455 Tax Law Tax laws come from several sources and each source has a particular amount of rein over the laws conducted. Sources‚ such as the IRC‚ have a defined amount of say in the laws and the consequences. The way a law is interpreted and applied is also a very large part of tax law. Tax research is how tax laws are defined and followed for individual facts (Anderson‚ Pope & Kramer 2010) Sources of Tax Law The primary and secondary sources of tax
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Income Statement of the Air Asia for the quarter end 31/3/2014‚ 30/6/2014 and 30/9/2014 First quarter 2014 (1Q14) The Group recorded revenue of RM1302.4 million for the quarter ended 31 March 2014‚ 0.1% higher than the revenue of RM1300.8 million recorded in the quarter ended 31 March 2013. The revenue growth was supported by a 4% growth in passenger volume while the average fare was down 9% at RM164 as compared to RM180.achieved in first quarter of 2013. Ancillary income per passenger was increased
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only deductions allowed are those specifically provided for by statute‚ rulings‚ etc. 2. Mitch is in the 28% tax bracket. He may receive a different tax benefit for a $2‚000 expenditure that is classified as a deduction from AGI than he will receive for a $1‚000 expenditure that is classified as a deduction for AGI. a. True b. False ANSWER: True RATIONALE: The value of the tax benefit to Mitch for the deduction from AGI may be less than that for the deduction for AGI. The value of the deduction
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Instructions (a) Prepare a multiple-step income statement for 2012. Assume that 60‚000 shares of common stock are outstanding. Brokaw Corp Income Statement For The Year Ended December 31‚ 2012 Sales Revenue Net Sales $1‚200‚000 Cost of Goods Sold 780‚000 Gross Profit 420‚000 Operating Expenses Selling Expenses $65‚000 Administration Expenses $48‚000 113‚000 Income from operations 307‚000
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practicing and schoolwork. They have a lot of pressure to be independent and find a job. Athletes have school and sport practice so it is hard for them to find a job that compatible with school and practice. Athletes are not being paid by people money or tax; in fact‚ the revenue they make‚ they get from it. If the athlete making millions and all the revenue goes to the university that is not fair‚ because the athlete worked too hard to earn this money. However this essay will be focusing on should athletes
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* Flat tax in other countries In a distinct development‚ former communist counties are leading a global tax reform revolution. For instance‚ Estonia was the first country which adopts a flat tax. The tax rate was a 26 percent in 1994‚ started after the collapse of the Soviet Union. Latvia and Lithuania followed shortly after Estonia using flat tax system in the mid-1990s. Latvia picked a 25 percent rate and Lithuania chose a 33 percent rate. Russia’s government discovered the benefit about the flax
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CHAPTER II ESTATE AND DONOR’S TAXES* A. ESTATE TAX 1. Taxpayer and Tax Base The estate tax is imposed on the transfer of the decedent’s estate to his lawful heirs and beneficiaries based on the fair market value of the net estate at the time of the decedent’s death. It is not a tax on property. It is a tax imposed on the privilege of transmitting property upon the death of the owner. The Estate Tax is based on the laws in force at the time of death notwithstanding the postponement of the actual
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PROJECT FRINGE BENEFIT TAX SUBMITTED BY PRIYANK JAGAWANSHI 08B088 priyankjagawanshi@gmail.com 2008-2013 VII SEMISTER SUBMITTED TO Mr. CHAMARTI RAMESH KUMAR ASSISTANT PROFESSOR OF LAW 1|P a ge CONTENTS ACKNOWLEDGEMENT 3 ABSTRACT 4 INTRODUCTION 5 FRINGE BENEFITS TAX (FBT) 6 LEGISLATION AND STATUTORY REGULATIONS 8 EXEMPTIONS IN FRINGE BENEFITS TAX 10 ABOLITION OF FBT – REASONS 11 IMPACT OF ABOLITION OF FRINGE BENEFITS TAX 14 CONCLUSION
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the largest benefit for the wealthy population‚ the Bush tax cuts were also controversial for a multitude of reasons. These tax cuts forced the government‚ Congress in particular‚ to make a variety of changes and adaptations to the new financial situation they would find themselves in. Due to the decrease in revenue the government would be receiving in taxes‚ Alterations in spending had to be expected. According to Isaac Shapiro‚ the Bush tax cuts “have been a major contributor to the dramatic shift
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