Introduction
In this reflection, I will focus on some important topics such as, what I learned about individual and business taxation from this course, what was my experience with the group project and what were the challenges that I faced during both the group project and this course. I am also going to add some main overall points that I learned.
Tax is generally an amount of money that is charged by a government on a product, income, or activity so that it can pay for public services. In addition, there are several very common types of taxes:
• Income Tax (a percentage of individual or corporate earnings filed to the government)
• Sales Tax (taxes charged on certain goods and services)
• Property Tax (taxes charged on the value of land …show more content…
However there are some people that do not know about the positive effects of the tax system, so they might think that it only comes along with negative effects. In fact, not so many people know this but taxes are considered one of the most important sources of revenue for the government and one of the main reasons for developing the country's economy. Still, tax systems widely vary between countries, and it is essential for individuals and corporations to carefully have good knowledge of a new country’s tax laws before earning income or doing any business there.
During the course, I became aware of the different types of tax systems, purposes, how to calculate it and how they actually worked. In addition, it became clear to me that taxation is very important for any country since it is a source and a way of raising its …show more content…
In fact, my group members were very helpful and whenever one of us had trouble with something we would all participate in solving her problem or giving her helpful tips to solve it. By helping, supporting and motivating each other it made the project easier to solve and it helped us in achieving our work in the most effective time and ways. Here are some points I loved about the experience, firstly being a part of a group helped in developing my skills and we were able to achieve more work than in working individually. Secondly, we had more time to manage and plan. Thirdly I developed more communicating skills and team commitment and also I had more exchange of information between myself and our group members. I believe this experience helped me to identify the strengths and weaknesses of my ideas and potentials. It also helped me with time management and how to arrange my time to work on this and other projects. A credit goes to this project, my skills and knowledge in taxation became
In this reflection, I will focus on some important topics such as, what I learned about individual and business taxation from this course, what was my experience with the group project and what were the challenges that I faced during both the group project and this course. I am also going to add some main overall points that I learned.
Tax is generally an amount of money that is charged by a government on a product, income, or activity so that it can pay for public services. In addition, there are several very common types of taxes:
• Income Tax (a percentage of individual or corporate earnings filed to the government)
• Sales Tax (taxes charged on certain goods and services)
• Property Tax (taxes charged on the value of land …show more content…
However there are some people that do not know about the positive effects of the tax system, so they might think that it only comes along with negative effects. In fact, not so many people know this but taxes are considered one of the most important sources of revenue for the government and one of the main reasons for developing the country's economy. Still, tax systems widely vary between countries, and it is essential for individuals and corporations to carefully have good knowledge of a new country’s tax laws before earning income or doing any business there.
During the course, I became aware of the different types of tax systems, purposes, how to calculate it and how they actually worked. In addition, it became clear to me that taxation is very important for any country since it is a source and a way of raising its …show more content…
In fact, my group members were very helpful and whenever one of us had trouble with something we would all participate in solving her problem or giving her helpful tips to solve it. By helping, supporting and motivating each other it made the project easier to solve and it helped us in achieving our work in the most effective time and ways. Here are some points I loved about the experience, firstly being a part of a group helped in developing my skills and we were able to achieve more work than in working individually. Secondly, we had more time to manage and plan. Thirdly I developed more communicating skills and team commitment and also I had more exchange of information between myself and our group members. I believe this experience helped me to identify the strengths and weaknesses of my ideas and potentials. It also helped me with time management and how to arrange my time to work on this and other projects. A credit goes to this project, my skills and knowledge in taxation became