Goods and Services Tax

up paying the tax by paying more for the good or service. Examples of indirect taxes could be VAT and a number of excise duties on alcohol, tobacco and oil. On the other hand, direct taxes are taxes levied directly on the income of an organization or individual. It is completely different to indirect taxes as it is just paid to one entity. Income tax, capital gains tax, inheritance tax and corporation tax are also categorized as direct tax. It is argued that high level of indirect tax may create…

FROM WASHINGTON STATE TO OREGON STATE Introduction Tax policy is one strategy that states have to increase their competitiveness. From the 50 states nationwide, only five states do not impose sales tax or have a 0% sales tax rate; they are Alaska, Delaware, Montana, New Hampshire and Oregon. Without sales tax, people can buy in these five states without spending extra money on tax and they can have extra ‘money’ for saving or spending on other goods. Compared to some other states, they mostly…

challenge, but for people who do not have the time or the patience to complete this challenge, hiring the services of a tax professional is the only way to go. You can easily find a tax professional anywhere you go; however, can all tax pros deliver. In every profession, you will find experts, novices and everyone in between, but when it comes to doing your taxes, especially your business tax returns, you should choose carefully and choose only the best to avoid making unnecessary claims, which…

The flat tax, progressive tax and value added tax are three very different and unique tax systems. All three tax systems have similarities and differences. By comparing these three tax systems we can understand their advantages and disadvantages and see which one is the best for the United States. Currently, the United States uses an income tax called the progressive-rate tax system. This tax rate system is very complex and requires taxpayers to complete multiple forms, compute deductions, and…

Cigarette indirect tax The article is about the Health officials would add $2 tax to packs of cigarettes in California in order to discourage people from smoking to save lives. One major aim to raise the tax is to reduce the consumption of cigarette because it is a de-merit good which would bring bad impacts on the economy. Second-hand smoking may cause serious illness to people around, so it is considered as negative externality, defined as an activity that imposes a negative effect on the…

There is not a consensus agreement on a fair tax code that would impact everyone equally. Politicians use the tax code as a weapon to garner votes by punishing a small minority to the delight of the majority. Tax breaks are given to certain businesses for political support and campaign contributions. Against this backdrop it is understandable that the American public is disillusioned with the tax code, and politicians’ in-general. The complexity of the tax code assures that a segment of the…

Jeb Bush, son of George H. W. Bush, has promoted more conservative tax policies during his campaign for president as a Republican candidate. He recently announced his tax plan on September 8; promoting tax cuts for all individuals and corporations. In general, Republicans heavily favor the “trickle down” economic theory, the theory that economic benefits for the wealthy will “trickle down” and benefit society as a whole. Rather than spend their newfound wealth, the upper classes would choose to…

basic or priority goal is to make profit while Non- Profit is a business whose priority is rendering services to the community such as food , water, health, shelter, education environmental needs like rare plants and animals survival. However is does not imply that a Non-Profit organization does not make profit. These two organizations have both similarity and differences. In similarity they are need good leadership, need money for the business to grow and survive, have goals and mission and…

explains the benefit of using earned income tax credit. Earned income tax credit is a refundable type of tax. Glaeser explains that if people can keep more of their money then the poor would be motivated to work more. The government is in favor of raising the minimum wage because it is easier to drop the costs on employers. It is easier for the government because it doesn’t have to maintain and regulate how income tax credit is dealt with. Earned income tax credit is not a lucrative idea to the…

thereby affecting the financial flexibility of Quintiles. Quintiles can continue to thrive in research and develop their Web to attract customers through easy access to the website. The company can focus on making it easier to navigate and search for services on the website, so that the customers stay interested and not irritated. Another opportunity that Quintiles can focus on is the “acquisition of Encore”, which will most likely be able…