...reason for it. The study however does point out that if the prices are increased for a longer period, the demand might in fact be elastic as people would be impacted more by the increase in prices. The research further suggested that the demand elasticity varies amongst poor and rich countries along with the population demographics. (Perucic, 2012) In general when the prices are increased or taxes are raised on inelastic products, the beneficiary is often the producer or the government as the tax burden would be on the consumers. A tax on cigarettes would mean the consumers bearing a greater tax incidence which would in fact discourage them to spend more on tobacco products. (Tax-inelastic-demand n.d.) As seen in the graph above, a tax imposition on cigarettes would shift the supply curve on the left with the equilibrium quantity reducing from Q to Q 1. The inelastic demand would mean that the tax burden is borne by the consumers whereas the producers bear a small fraction of the tax applied. The government while increasing taxes on cigarettes needs to ensure that all relevant substitutes for the...
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...and developed nations. Tax refers to a “compulsory levy by a public authority for which nothing is received directly in return” (James and Nobes, 1992). According to Nightingale (2001), “a tax is compulsory contribution, imposed by government, and while taxpayers may receive nothing identifiable in return for their contribution, they nevertheless have the benefit of living in a relatively educated, healthy and safe society”. She further explains that taxation is part of the price to be paid for an organized society and identified six reasons for taxation: provision of public goods, redistribution of income and wealth, promotion of social and economic welfare, economic stability and harmonization and regulation. In other words, a tax is an imposed levy by the government against the income, profits, property, wealth and consumption of individuals and corporate organizations to enable government obtain the required revenue to provide basic amenities, security and well-being of the citizens. First detailed information about taxation can be found in Ancient Egypt (Webber and Wildavsky, 1986). The Pharaohs appointed tax collectors (called scribes) and paid them high salaries to reduce the incentives to enrich themselves. Furthermore, scribes working in the field were controlled by a group of special scribes from head office. Today, corruption of the tax agency is still a problem, especially in developing countries According to the traditional model of tax compliance by Allingham...
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...Published in April 1958 IMPACT OF TAXATION ON SMALL AND MEDIUM SCALE INDUSTRIES BY MURARJI J. VAIDYA (Text of a public lecture delivered under the auspices of Forum of Free Enterprise on April 9, 1958 in Bombay. The author was Founder-Vice-President, Forum of Free Enterprise). It is necessary at the outset to define the terms, “Small Scale” and “Medium Scale” industries because there appears to be a deal of confusion over the precise connotation of these terms. Government have defined small industries as those which employ 50 workmen where power is employed and 100 workmen where power is not employed and the industry is manually operated. In the matter of capital, the limit of Rs.5 lakhs as invested is the maximum limit to qualify an industry as a small-scale industry. As far as medium scale industries are concerned, there is no specific definition. From time to time, various figures have been given. In my opinion, industries employing up to 500 workers and with an invested capital of Rs.5 lakhs should be considered as medium scale industries in the context of present costs of putting up such factories. The Government of India, however, have not laid down any definition of medium scale industry and, I am sorry to say, that they have not taken much interest in the development of medium scale industries. In April 1956, in my presidential address to the 26th Conference of the All- India Manufacturers’ Organisation in...
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...(motor vehicles, furniture, electronics, precious metals), etc. While concepts of real property and property tax remain relevant in the context of local government tax (service charge) administration, at the national level, the concept of wealth is more appropriate since it subsumes real property as well as all new forms of assets in a modern society. Upon reviewing literature and practices in other countries, this paper adheres to the term wealth for all subsequent discussion. Literature Review: For the purpose of the study on the impact of property tax on enterprise development, sources of data and other information on regulatory framework initially used include: the constitution of Bangladesh, various statutes under which property taxes are imposed and collected, the annual reports of the National Board Revenue (NBR), the apex tax authority in Bangladesh, relevant fiscal policy documents of the Government of Bangladesh such as the Report of the Taxation Enquiry Commission (1979) and the Report of the Revenue Reform Commission (2003), the World Bank’s An Agenda for Tax Reform (December 1989) for Bangladesh and the IMF’s Tax Policy Handbook (Shome 1995). For literature purpose, available research publications have been consulted. There are three types of land-related property taxes in Bangladesh – one local tax (holding tax) and two other central taxes (land development tax and...
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...development of any country depends on the amount of revenue generated for the provision of infrastructure in that given country. However, one means of generating the amount of revenue for providing the needed infrastructure is through a well structured tax system (ogbona and ebimobewei, 2012). The vital role that taxation play in an economy cannot be overemphasized. Tax is a compulsory levy imposed by government or its agent on her citizens in order to raise revenue for the funding of economic activities. Nkoro and worlu, 2012 defined Tax as a fee charged or levied by a government on a product, income, or activity. If it is levied directly on personal or corporate income, it is called a direct tax. If it is levied on the price of a good or service, then it is called an indirect tax. The main reason for taxation is to finance government expenditure and to redistribute wealth which translates to financing development of the country (Musgrave and Musgrave, 2004, Bhartia, 2009). Apart from revenue generation prowess of tax, it is also used by the government to discourage consumption of certain goods. Taxation is a fiscal tool that most government uses to regulate both the micro and macro aspect of an economy. Generally, The importance of tax lies in its ability to generate revenue for the government, influence the consumption pattern of the people and also regulate the economy through its influence on vital aggregate economic variables such as income, employment, prices of goods and services...
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...Indeed, evidence from this knowledge synthesis strongly supports increasing cigarette prices through tobacco taxation as a powerful strategy for achieving major reductions in smoking among some, but not all, high-risk populations. This is a highly effective policy tool for reducing smoking participation and consumption among youth, young adults and persons of low socioeconomic status. In contrast, major gaps exist in our knowledge about the impact of price on persons diagnosed with mental health or non-nicotine substance abuse disorders, heavy and/or long-term smokers. Raising cigarette prices is an effective tobacco control policy in reducing smoking among youth. While most studies of young adults found that increased prices also result in reductions in smoking behavior, the magnitude tends to be smaller than for youth. Chaloupka and Pacula argue that because tobacco is an addictive substance, response to increased prices will occur more slowly than for non-addictive goods; therefore long-term gains may be larger than short-term gains. The impact of increased price on smoking initiation among youth and young adults is less clear. Also, differential responses to price by youth and young adults were associated with other determinants, including age (younger vs. older teens), gender, income, school status, and peer and family influences. The majority of studies found that persons of low socioeconomic status are more responsive to...
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...TECHNOLOGY ASSESSING THE IMPACT OF THE VALUE ADDED TAX (VAT) SCHEME ON THE REVENUE GENERATION CAPACITY IN GHANA A LONG ESSAY PRESENTED TO THE SCHOOL OF ARTS AND SOCIAL SCIENCES (SASS), REGENT UNIVERSITY COLLEGE OF SCIENCE AND TECHNOLOGY, IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF BACHELOR OF SCIENCE DEGREE IN ACCOUNTING AND INFORMATION SYSTEMS NII TORTO QUAO (022 0207) DECEMBER 2009 DECLARATION I hereby declare that this long essay is the original research undertaken by me, including all references from other books, handouts, internet, magazines, textbooks, etc under the supervision of the under signed lecturer. Mr. Albert Akanferi …………………………….. ……………………………….. (Supervisor) Signature Date Nii Torto Quao …………………………….. ………………………………. (Student) Signature Date i ABSTRACT A strong and efficient tax system provides the basis for enhanced economic growth and development. Ghana’s fiscal structure prior to 1983 had generally been characterised by low tax revenue. As a result Ghana undertook a number of reforms prescribed by the International Monetary Fund and the World Bank under the Economic Recovery Programme (ERP) and the Structural Adjustment Programme (SAP). Tax reforms constituted one of the essential ingredients of SAP. The tax reform process has assumed diverse dimensions over the pass two and half decades. One of those tax reforms was the Value Added Tax scheme (VATs). The purpose of this study is to assess the impact of the VATs on revenue...
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...CURRICULUM VITAE |VICTORIA NEEQUAYE | |OBJECTIVE |A position, which provides an opportunity for applicable use of client / customer relationship, operational | | |support service, administration, procurement and capabilities in a growth – oriented organisation. | |PROFILE |A hardworking person who is keen to find a position that would show exhibit my reliability, trustworthy, and | | |carefulness. Able to work on own initiative or as part of a team and can deal with duties competently. My | | |Receptionist background has given me the ability to be courteous and understanding as well as work under low | | |supervision. | |Development |Excellent inter-personal skills and ability to communicate and keep things in | |Competencies |confidence. | | |High level of motivation, self starter and Hardworking | | |Characterized by others as sociable, mature, flexible and a fast learner | | ...
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...and SEAL: social, emotional, aspects of learning. I will then look at how the school incorporates aspects of faith within the context of children’s daily learning. The school incorporates other initiatives; however, I believe the aforementioned three to be the most relevant to the school’s aims and pivotal to their continued improvement. I will incorporate other sources of information which will include educational literature, publications, government documents, reports, theories and concepts. I have gathered evidence through independent observation and discussion with the class teacher in order to understand more about the impact of holistic needs on children. During my time at school A, I have utilised observation of children to understand how impacts take effect in different contexts. To conclude, I will identify implications that potentially could impact my future development as a...
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...Biology Current Events Assignment Omar Patel May 6th, 2014 Scientists Discover Cosmic Factory for Making Building Blocks of Life September, 15, 3013 Zita Martins, Mark C. Price, Nir Goldman, Mark A. Sephton & Mark J. Burchell http://phys.org/news/2013-09-scientists-cosmic-factory-blocks-life.html In the article it states that when icy comets collide into a planet, amino acids are created. These are the building blocks of life and from the amino acids. This means that amino acids can be created anywhere in the world with these conditions. The article also states that a couple of moons of Saturn have the perfect environment for creating amino acids if a comet hits them. The researchers stated that the comets crash into the ground, which create shockwaves that create amino acids. The scientists figured this out by using a special gun that replicates the crash of a comet. This article is related to science/biology because it helps us understand how life first formed on Earth. I think this discovery will benefit everyone around the world equally because a common question usually asked is how the world was created in a scientific sense. Scientists will be very happy with this information because it would help them keep researching for ideas to satisfy peoples questions related to this topic. Sep. 15, 2013 — Scientists have discovered a 'cosmic factory' for producing the building blocks of life, amino acids, in research published today in the journal Nature Geoscience...
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...The Impact of Glass Technology Nowadays technology was developed extremely fast. From dekstop, now we have laptop, from smartphone now we have Glass technology. What is Glass technology? Basicly it’s like smartphone but you use a glasses to control almost everything you need in smartphone and it doesn’t required other device but can connected with your other devices. Firstly, Glass technology innovated by Google Inc. Which called Google glass. They’re realized that people needs technology which more effective, efficient,and off course have to be simple thing. From that idea they try to move smartphone technology into a glasses. By use this glasses you can schedule your day easier to manage your time because you know what already done and what will you do later. You can snap what you see and share it to your friends and community. You can still connected with people and make a conversation even video call. Make phone calls, sms, emails though Google Glass, no smartphone required. Keep your calendar events, information, contacts updated on Glass. Easier navigation and maps will be provided through Glass. Glass will make you look hi-tech and updated on technology and create an impressive impact on people. However, every thing have negative impact. What we know is with this technology, Glass might give you a ‘nerdy’ look that might create clumsiness among people nowadays. No indication while clicking pictures (like pointing the camera) which almost sounds like a hidden camera...
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...“What does impact mean to you?” My entrepreneurship professor asked us to define the term in a way that related to our personal goals. A few examples of impact that immediately popped into my head included Embrace Innovation, whose low-cost incubator saved 300,000 babies across 22 countries and Doug Rouch’s Daily Table, which sells fresh, low-cost produce to some of the 49 million Americans struggling with hunger. How did their journeys relate to my aspiring career in dentistry? I recalled shadowing Dr. Starns & Wood who volunteered tirelessly on Tuesday nights, spreading their impact on Charlottesville beyond private practice. Considering social entrepreneurship and dentistry, I defined impact as transforming as many lives possible across multiple...
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...first? Which one should be evaluated last? Asset A: Switch L47 connects a network to the Internet. It has two vulnerabilities. It is susceptible to hardware failure at a likelihood of 0.2 and is subject to an SNMP buffer overflow attack at a likelihood of 0.1. The switch has an impact rating of 90 and no current controls in place. You are 75% certain of the assumptions and data. Asset B: Sever WebSrv6 hosts a company Web site and performs e-commerce transactions. It has a Web server version that can be attacked by sending it invalid Unicode values. The likelihood of that attack is estimated at 0.1. The server has been assigned an impact value of 100, and a control has been implanted that reduces the impact of the vulnerability by 75%. You are 80% certain of the assumptions and data. Asset C: Operators use an MGMT45 control console to monitor operations in the server room. It has no passwords and is susceptible to unlogged misuse by the operators. Estimates show the likelihood of misuse is 0.1. There are no controls in place on this asset; it has an impact rating of 5. You are 90% certain of the assumptions and data. 3. Suppose XYZ Software Company has a new application development project, with projected revenues of $1,200,000. Using the following table, calculate the ARO and ALE for each threat category that XYZ Software Company faces for...
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...On February 15, 2013 the small asteroid 2012 DA14 was its closest to Earth. The 50 meter asteroid passed through the gap between Earth and the ring of geosynchronous satellites that orbit earth. Geosynchronous objects orbit around the earth with a period equal to one sidereal day. Asteroid 2012 DA14 passed at about 17,200 miles above the Earth’s surface. The asteroid was discovered in February 2012 by astronomers at the LaSagra observatory in southern Spain. (http://neo.jpl.nasa.gov/news/news177.html)( http://neo.jpl.nasa.gov/news/news174.html) (http://www.merriam-webster.com/dictionary/geosynchronous) An asteroid is a small planet-like body in orbit around the sun. The orbits of some asteroids take them across the paths of the planets. Asteroids are smaller than a planet but larger than a meteoroid, which is a small interplanetary object also in orbit around the Sun. If a portion of a meteoroid or other object survives the entry through the Earth’s atmosphere and reaches the Earth’s surface it is referred to as a meteorite. A meteor, also known as a shooting star, is a streak of light produced by a meteoroid that burns away in the Earth’s atmosphere. When their orbit brings them close to the sun, gigantic balls of ice and rock or comets, form a tail of dust and gas while being heated by the Sun’s rays. Scientists believe that the extinction of dinosaurs, nearly 66 million years ago, was the result of a large meteorite striking what today is Mexico’s Yucatan Peninsula. In...
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...more at ease knowing that like that night, it wasn’t about the numbers involved so much as it was about the message being conveyed. Renate’s story is one that cannot be over looked. To hear first hand, and even second hand is so much more impacting then reading about something in books and through articles. As much as Renate impacted me, she was only a small part of the commemoration. Everything came together and flowed very nicely and I found myself more than willing to stay longer then required. My favorite part was the passion shown by everyone involved. Although I didn’t necessarily understand some of the songs and prayers, it was still powerful to say the least. One thing I will always remember, and the thing that made the biggest impact on me was an elderly man who stood next to me towards the end. This man walked in late and although he never spoke to anyone, he sang and participated, eyes closed, with such an intense facial expression of both passion and remorse. As he walked out in silence, still not speaking to anyone, is when I realized just how much this really meant to people. One of my favorite messages from the Candlelight read along given out was the idea that action is what separates belief from opinions and how beliefs are imprinted through actions. This...
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