Indirect tax

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  • Advantages Of Indirect Tax

    What advantages might indirect taxes have over direct taxes? Answer: Indirect taxes are mostly taxes on spending, which is usually in the supply chain transferred to the consumer as part of the price of a product. As a result, the consumer ends 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…

    Words: 792 - Pages: 4
  • Importance Of Good And Service Tax In India

    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…

    Words: 1823 - Pages: 8
  • Essay On Intercorporate Transfer Pricing

    growth in multinational corporations but also in regards to acquisitions. Transfer pricing occurs when related parties exchange for goods. They are only useful for tax purposes so therefore should only be apparent on the parent’s financial statements. Throughout our research on intercorporate transfer pricing we were intrigued by the effects it has on taxes purposes and financial statements. Transfer pricing has a direct effect on the financial statements. For this reason they are a crucial…

    Words: 990 - Pages: 4
  • D's Life Insurance Case Study

    estate they are subject to the estate tax. b. No, 2042(b) since D still has the ability to designate the beneficiary the gift is not complete and he is deemed to retain “incident of ownership” and the policy will be included in the estate. c. D should transfer the policy to another individual or an irrevocable trust. D must divest himself the incidents of ownership. D must give up the right the power to change the beneficiary, to surrender or cancel the policy, to assign the policy, to revoke…

    Words: 1328 - Pages: 6
  • Relevant Facts: Armando Perez A Citizen Of Colombia

    his name. Colombia does not have a tax treaty with the US. Properties A, B, and C were purchased on January 1, 2014 and their adjusted bases and fair market value are $97,800/150,000, $86,223/135,000 and $52,077/155,000 respectively. There is no depreciation recapture on any of the properties and they are currently rented and no significant improvements have been made to the properties since they were purchased. Mr. Perez made the election to treat his real property income as effectively…

    Words: 1493 - Pages: 6
  • Brett's War Theory

    The many factors of this framework can all lead peoples and states to attempt indirect approaches to warfare as they test the new balances of power and the limits of national and trans-national influences, or begin to influence resources and activities on the global commons. The following case studies are a small sampling to illustrate the applicability of Hart’s and Corbett’s…

    Words: 1500 - Pages: 6
  • Policy Proposal: Tax Reform Package In Japan

    Policy Proposal: Tax Reform Package in Japan Japan has remained in an extended period of stagnation for over a decade, since 1992, leading to a massive drop in per capita income. Consequently, the economy that stood to threaten the global markets in competition developed fragile pillars that affected the course of investments in the nation. As a member of the OECD area, Japan regained a steady growth trend after 2002 that saw a notable improvement in its GDP. Nonetheless, this upward course was…

    Words: 862 - Pages: 4
  • Economic Inequality And Poverty

    From Kenia to Germany, South Africa to the US, the gap between rich and poor has been rapidly increasing, and economic inequality has reached extreme levels .In the recent presidential election campaigns, Hillary Clinton, for example, wants to increase the taxes for Americans in the highest tax bracket in order to reduce the gap between rich and poor. The World Development Report of 2006, published by the World Bank, states that seven out of ten people live in countries where the gap between…

    Words: 784 - Pages: 4
  • Death And Tax

    and the money printing presses which prints paper notes. Technically, they can practically print as much paper note as they want. But as everything has its effects, so does printing money out of thin air. It lowers the value of each currency note in circulation. This is seen as a rise in prices of most of the goods and services. We call it inflation. Inflation also erodes the value of our savings. Suppose, a person have saved a thousand bucks today and if the government increases the volume of…

    Words: 1290 - Pages: 6
  • The Importance Of Taxation In Economic Growth

    I understood that the higher the tax revenues are paid by both individual and corporates reduces investments’ rates and increases jobs. More money is invested into education and health care. This issue discussed is very important to our national grid. In my previous paper I elaborated the importance of taxation in infrastructure, public education and health care commonly for economic growth, however there…

    Words: 2836 - Pages: 12
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