Goods and Services Tax

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    The Australian Goods and Service Tax (GST) is a broad-based consumption tax added to the price of goods and services and ultimately paid by the final consumer. The Act necessitates businesses to administer and remit the tax amounts to the Australian Tax Office (ATO). The current rate of goods and service tax stands at 10%. Authored by Kavita (2011), this study critically appraises the financial supply provision stipulated in the Goods and Services Tax Act of 1999. This critique explores Kavita’s (2011) arguments and evaluates the ideas in his critique as far as taxation of financial services is concerned. The Article’s Summarized Issues In this paper, Kavita (2011) explores the reasons why the Australian Tax Offices (ATO) decided to treat…

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    Goods and Service Tax Bill – Victim of Politics or Technicalities? Tax Structure in India In the Indian tax system, the Central government levies excise duty on manufacturing and service tax on the supply of services. The State government levies sales tax or value added tax (VAT) on the sale of goods. In addition, the Central Government levies the Central Sales Tax (CST) on inter-state sale of goods which is collected and retained by the state exporting the goods. The states also levy tax on…

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    Love, and Hate, in a VAT, that the American tax system is clearly inefficient and inhibits the economy’s ability to reach its full potential. Taxing consumption is better than taxing income, and a value-added tax does exactly that. The value added tax system (VAT) is a form of consumption tax. In short the VAT is attached to each stage of a product’s sale price. Thus, when a product or service is acquired a value tax is added to the transaction. The value added tax system obtains its revenue…

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    Minsky Money Program demonstrated the concept of how money can be created by a state and through a tax obligation imposed by said state gives money its value. In the case of the Minsky Money Program, Minsky money was our imposed tax obligation that we needed to repay as our tax obligation. Minsky money’s value was attained by the fact that a grade for the class would be based on the repayment of the tax obligation. In addition, there would be no other form of money that would be accepted for the…

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    trade their goods and services secretly to evade the price controls and tax rate set by the Prime Minister. The Black market is the second largest market in the world and these trades happens both in developed and developing countries. All kinds of goods and services are available in the Black market, but the goods that were most commonly traded are things that are available in the official market but at a lower cost in the Black market, or things that has a limited supply in the official market…

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    Flat Tax Research Paper

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    millions of Americans around the nation dread the 15th of April, which has been traditionally known as Tax Day. Yet, it is indisputable that taxes are a necessity for many basic government functions, such as law enforcement, educational funding, and criminal containment, to operate. While Americans will never escape the burden of tax, altercations to the current tax system can correct the issues that taxpayers fear. The current US federal income tax is a progressive tax model that utilizes eight…

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    Sales Tax Research Paper

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    Taxes Research (Missouri Sales Tax) Understanding the Impact: On a daily basis, the government knocks and regulates different services that include protection, electricity, health care, keeping and water. The government, on a fundamental level, plays a role in how and when trash is disposed. Taxation is also a control of the government that determines the amount of money citizen are allowed to keep as well as how much citizens must pay. This directly impacts the amount of money citizens have…

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    Federal Value Added Tax

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    Other more traditional taxes include : Federal Value added tax The value added tax (VAT) is one of the Confederation's principal sources of funding. It is levied at a rate of 8 percent on most commercial exchanges of goods and services. Other items such as food, drugs, books and newspapers, are subject to a reduced VAT of 2.5 percent. Medical, educational and cultural services, are tax-exempt; as are goods delivered and services provided abroad. Federal withholding tax The federal withholding…

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    1. RSPCA Mission Statement 2. Tax Practitioner Service Charter 3. Statement of Expectations for the Tax Practitioners Board The RSPCA’s mission is to prevent cruelty to animals by actively promoting their care and protection. To achieve this, the RSPCA works to enforce animal cruelty laws and prompt new legislation where required. The RSPCA also operates animal care and adoption facilities, and seeks to raise community awareness regarding the humane treatment of animals. In addition,…

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    U.S dollars. The U.S. economy is dominated by services-oriented companies in areas such as technology, financial services, healthcare and retail. Our economy has been slowly getting back on track since the stock market crash of 2008. It started with a major recession that started in 2007 with factors like widespread mortgage lending, low interest rates, and lax government regulation. Then on Sept 29, 2008, the…

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