Value added

expression of values (e.g., encouraging families) by eliminating the marriage penalty and encouraging adoption. 8. Other major thrusts of tax reform under the current system include those to promote savings and simplify some of the provisions contributing to tax complexity. 9. Major reforms include taxing energy (carbon) usage or other activities detrimental to the environment, as well as taxing financial institutions and transactions. Other reforms include the flat tax, the value-added tax,…

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 the entry of…

countries should have made their tax policies according to unique nature of their homeland as well as to international trades of the country. In organizing their tax policies most controversial taxes to be picked to impose are Sales Taxes and Value Added Taxes (VAT). While most governments in the world impose VAT in the USA sales tax is chosen. Europe, Japan and some other developed countries…

In the endeavor of increasing income equality, multiple laws, regulations and tax credits have been effectuated. For a period of three decades, economists have advocated the use of a tax system for this purpose. For example, transferring the responsibility to a tax system such as Earned Income Tax Credit (EITC) has been proven to be more efficient than other methods, such as the welfare system. The welfare system has not been completely transferred to a more efficient tax system due to political…

It’s already hard enough to be a woman in our society. Woman go through so much like carrying a human being for nine months, birth, and especially our reminder of it every month for a week when we have our menstrual cycle. But does it have to be expensive to be a woman too? Pads and tampons are not a choice for woman so why are they taxed? Every month woman use and need pads and tampons they are medical necessities not a luxury. A women’s period should not be taxed and should not feel like an…

So what are some of the alternatives? The best knowns are the Flat Tax, the Value Added Tax (VAT), the Tax Reform Act of 2014, and a national sales tax. However, only one of those proposals eliminates the IRS along with corporate and income taxes. In 1995, a Houston businessman, tired of wasting time on tax conversations and issues…

the main taxes that we as younger kids and adults encounter in our daily lives. Sales tax is tax on sales. Included in state sales tax could be a county or local sales tax. So there could be an added amount to the five percent there is in Wisconsin. For example I live in La Crosse County and there is and added point five percent on sales tax for the County. For example I went shopping a couple weekends in La Crosse. We bought a new computer, new clothes and a pair of shoes, which all had the…

Are you interested in opening a business in Australia? Dear Entrepreneur, here is the information that you absolutely need to know prior to investing. I chose Australia because it has already set up common structures that an entrepreneur I could choose from when establishing a new business. These structures are breakdown into, sole, trader, partnerships, trusts and companies/corporations. This will help to carefully consider what my business needs are and what will suit me as an entrepreneur in…

The Effect Of IFRS On Current Tax Planning Strategy Introduction Any organization that has just started to adopt the IFRS would be considering the sort of impact that it would be having on its financial reporting. However, equally important is to understand the sort of impact it is going to have and the tax liability of the organization. Thus it is important to look and understand what sort of impact the IFRS is going to have as far as the tax accounting is concerned. This paper would also…

Rhode Island are elected and their term runs for four (4) years. Rhode Island State addresses real property tax as Property Tax and their official policy is that “a locally determined uniform percentage of full and fair cash value not defined by statute”. The type of tax and its value is estimated and determined at the municipality level and the assessor may use one of the following three methods: Cost Approach- this comprises estimating the cost of replacing the property with one similar to it,…