...Policy in Liberia: A Case Study of the Property Tax Division at the Ministry of Finance, 2006 – 2010 BY MORRIS A. KIAZOLU, JR. (BSC – Economics- 1999, BBA – Accounting - 2003) A Thesis Submitted to the Graduate Program in Business and Public Administration in Partial Fulfillment as Requirement for Master Degree in Business Administration – MBA/Accounting, UL November 2011 TABLE OF CONTENTS Page Declaration i Abstract ii Acknowledgement iv Dedication v 1.0 CHAPTER ONE: INTRODUCTION 1.1 Introduction 1 1.2 Background to the Study 2 1.3 Statement of the Problem 3 1.4 Purpose of the Study 4 1.5 Research Questions 4 1.6 Significance of the Study 5 1.7 Delimitation of the Study ...
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...Chapter 2 - Working With The Tax Law Three Sources of Tax Law * Statutory – the law * Administrative- guidance on the law * Judicial – courts Statutory Sources of Tax Law * Internal Revenue Code (2.6 million words) * Codification of the Federal tax law provisions in a logical sequence * Have had three codes: * 1939, 1954, 1986 * Committee Reports * Explain intent of the law Statutory Sources of Tax Law * Example of Code Citation: § 2(a)(1)(A) * § = Abbreviation for “Section” * 2 = section number * (a) = Subsection * (1) = paragraph designation * (A) = subparagraph designation Legislative Process For Tax Bills Figure 2.1 Administrative Sources of Tax Law * Treasury Department Regulations * Revenue Rulings * Revenue Procedures, and Help interpret and understanding how the tax laws apply Regulations * Issued by U.S Treasury Department * Provide general interpretations and guidance in applying the code * Reg. § 1.2 Issued as: * Proposed: preview of final regulations * Do not have force and effect of law * Temporary: issued when guidance needed quickly * Same authoritative value as final regulations * Final: * Force and effect of law Revenue Rulings * Officially issued by National Office of IRS * Specific interpretations and guidance in applying the code * Less...
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...Taxation is said to be one of the key governance tools of any state including the upholding of Zambians sovereignty. INTRODUCTION The most fundamental function of taxation is raising revenue to pay for governmental expenses and programs. "Taxes are necessary to raise revenue for public goods and infrastructure, as well as to provide other sorts of public services conducive to general welfare and economic growth." Tax revenues pay for the necessary goods – like national defense or a legal system – that an unregulated market cannot provide by itself. More often overlooked is the role of taxation as a catalyst for the development of responsive and accountable government, and for the expansion of state capacity. Taxes, however, do more than simply raise revenue: "Any tax that produces revenue will in some way alter the social and economic order." Taxes that only raise revenue without effecting other changes do not exist in the real world. The concept of fiscal policy captures that link between revenue collection and government spending. More specifically, taxes can be used to increase or decrease inflation and purchasing power, stimulate investment, and prevent harmful concentrations of wealth. Taxation is an underrated tool in the effort to build more capable and responsive states. The role of taxation as a central force in the development of democracy resonates strongly in Anglo-American history. The duty of paying for government legitimizes demands for services...
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...International Journal of Accounting and Financial Reporting ISSN 2162-3082 2014, Vol. 4, No. 2 Causes of Tax Evasion in Pakistan: A case study on southern Punjab Waseem Ahmad Khan (Corresponding author) Lecturer, Department of Management Sciences, The Islamia University of Bahawalpur, Pakistan E-mail: waseemkhan_hcbf@yahoo.com, Tel: +92-333-3133540 Prince Fawad Ahmad Student, Department of Management Sciences, The Islamia University of Bahawalpur, Pakistan Accepted: October 15, 2014 DOI:10.5296/ ijafr.v4i2.6484 URL: http://dx.doi.org/10.5296/ ijafr.v4i2.6484 Abstract Introduction: Tax evasion is main problem in Pakistan due to which Pakistan remains under a lot of stress. Tax evasion results in less revenue. Many causes have been discussed which play major role in tax evasion in Pakistan. It is a primary research. Literature review: Many authors have discussed impacts of tax evasion in different sectors of economy. Previously tax evasion cause major trouble in Tanzania & Greece. Methodology: A questioner has been filled by targeted population of 100 Professionals & Business students of Department of Management Sciences Islamia University of Bahawalpur. Questioner was consisted of 5 major parts i.e. Tax System, High rate, Go with the flow, Corrupt Govt. & Progressive taxation. Findings: Most of the population agrees that these causes play a vital role in the tax evasion in the Pakistan. Conclusion: Tax evasion is main problem of Pakistan which...
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...voluntarily contribution imposed by the Government on personal income earners, companies, investors, exporters, importers etc. revenue realised from taxation is a major source of revenue to the Government of Ghana, and as such is an important tool used in the development of Ghana and her economy. However, tax evasion which is the wilful and deliberate violation of the law in order to escape payment of tax, posses a big threat to income taxation in Ghana as it reduces tax revenue to the Government, thereby hampering economic growth and development. However, this research was undertaken to help increase revenue generated from income tax to the government, by pointing out the challenges faced by tax officials in discharging their lawful duties. Various challenges such as tax evasion on the part of the income taxpayers drastically reduce income tax revenue to the government. This has been a big problem for decades and needs to be properly addressed. 1.1 BACKGROUND OF THE STUDY AND PROFILE OF THE ORGANIZATION After a thorough research on the revenue structure of Ghana, it became evident that revenue from tax was a big source of income to the government of Ghana, and needed much attention because; taxation in Ghana like most West African Countries faced numerous challenges such as Tax Evasion (which is the biggest challenge of Taxation). The main reason for initiating this project is to research on the various weaknesses of tax administration in Ghana, throw more light on the weaknesses...
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...attracted the attention of the researcher to evaluate the Personal Income Tax in Enugu state, taking the Enugu state Board of Internal Revenue as a case study.The primary objective of this research work is to investigate the mechanism, policies and other factors being applied by Enugu Board of Internal Revenue in other to highlight why they are not effective and efficient.In pursuant of the stated goal, primary data was collected by questionnaires and direct interview with both tax payers and tax officials. Secondary data was collected from published materials including textbooks and other relevant literature.The statistical analysis of the data showed among other things that the tax generation on income, is not increasing alongside with the expenditure of the state because of lack of proper machinery and method used by the board of Internal Revenue in collecting income tax due, ignorance, dishonesty and other factors working against effective tax administration in the state.On the basis of these identified problems, a number of recommendations would be made, which it is hoped that if implemented, would improve revenue generation through tax generally, and Personal Income Tax in particular. CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Government has a primary duty of raising the standard of living of the people, maintain law and order and to defend the nation against external enemies, provision of such amenities and services such as education, public health, good network...
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...INTRODUCTION 1.1 BACKGROUND OF THE STUDY An area with settlement of people as far back as 9000BC, with a total area of 923,770sq.km/356,700sq miles and total land area of 910,770 sq.km/351650sq miles, having now a population of over 140 million and named Nigeria in 1914 has since its existence, had several authorities, kingdoms and empires among which are: The Benin Kingdom, Oyo Empire, Nupe Kingdom, Borno Empire, Fulani Empire, and the Hausa Kingdom. The country today operates a federal system of government in which power is shared between: the Federal, State and Local governments. Revenue generation has always been a crucial part of every government, authority or kingdom as the case may be. The revenue available determines to a large extent its capabilities, policy, functions and plans among others. For revenue generation, tax has always been a vital source in order to meet expenditures of the government. According to Ogundele, the essence of all taxes is the removal of resources from private hands of the individuals, corporate bodies, trusts, families, societies, and communities into the public sector to finance activities that has to do with the whole society. According to Louis Kaplow (2006;2) “Raising revenue to fund government expenditures on public goods and services is a fundamental purpose of taxation” Also Lymer and Oats (2008;14) noted that government functions include managing and regulating the economy (for example, protection of the environment) Developing...
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...OUTLINE CHAPTER ONE: INTRODUCTION A. Introductory Statement B. Statement of the Problem C. Significance of the Study D. Theoretical Framework E. Scope and Limitation F. Review of Related Literature CHAPTER TWO: JOHN RAWLS PHILOSOPHY A. Biography of John Rawls CHAPTER THREE: PHILIPPINE TAXATION A. Concept of Taxation B. Nature of Taxation and Its purpose C. Concept of Income Taxation D. Purpose of Taxation E. Current Uses of Taxation CHAPTER FOUR: SOCIAL JUSTICE IN TAXATION A. Social Justice B. Principles of Justice C. Well Ordered Society D. Original Position E. Veil of Ignorance F. Civil Disobedience CHAPTER FIVE: CONCLUSION CHAPTER ONE: INTRODUCTION A. INTRODUCTORY STATEMENT The works of John Rawls was basically centered on justice as depicted on his work “Theory of Justice” and “Political Liberalism. John Rawls is considered to be one of the most influential philosophers during his time as he specialized in the concept of justice and fairness as a tool for attaining social justice in the society. His works received various criticisms since it may be viewed as unrealistic but though it may be criticized, his works are one of the influential and most bought book and already translated in various language to be used as curriculum in philosophy classes. Rawls differentiate the concept of justice and fairness as he tried to show that the idea of justice is fairness and...
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...AVI-YONAHFINAL.DOC FEBRUARY 26, 2002 2/26/02 5:38 PM Book Review Why Tax the Rich? Efficiency, Equity, and Progressive Taxation Reuven S. Avi-Yonah† Does Atlas Shrug? The Economic Consequences of Taxing the Rich. Edited by Joel B. Slemrod.∗ Cambridge: Harvard University Press, 2000. Pp. 524. $57.95. In Greek mythology, Atlas was a giant who carried the world on his shoulders. In Ayn Rand’s 1957 novel Atlas Shrugged, Atlas represents the “ prime movers” —the talented few who bear the weight of the world’s economy.1 In the novel, the prime movers go on strike against the oppressive burden of excessive regulation and taxation, leaving the world in disarray and demonstrating how indispensable they are to the rest of us (the “ second handers” ). Rand wrote in a world in which the top marginal federal income tax rate in the United States was 91% (beginning at taxable income of $400,000).2 This is an unimaginably high rate by today’s standards, when the dominant view in Washington is that a marginal rate of 39.6% (the top † Irwin I. Cohn Professor of Law, University of Michigan. I would like to thank Yossi Edrey, Allen Graubard, David Hasen, Judy Herman, Don Herzog, Jim Hines, Bob Kuttner, Doron Lamm, Jeff Lehman, Kyle Logue, Dan Shaviro, Joel Slemrod, Dennis Ventry, and Larry Zelenak for their extremely helpful suggestions. All errors are mine. * Paul W. McCracken Collegiate Professor of Business Economics and Public Policy, University of Michigan. 1. AYN RAND, ATLAS...
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...Planners Vol. 2, December 2009, pp. 126-135, © Bangladesh Institute of Planners ISSN 2075-9363 Problems and Prospects of Municipal Holding Taxation System: A Study on Bhairab Pourashava Md. Samiul Huda* Muhammad Rashidul Hasan** Abstract Local governments in Bangladesh have several options at hand to finance their activities and pursue their fiscal policy. These options include the imposition of taxes and the generation of non-tax revenues through fees, levies, cost recovery and user charges, property and investment income, domestic and foreign borrowing, the sale of assets and domestic and foreign grants. Urban Local Governments (ULGs) in developing countries are in dire need of resources not only for investment to meet the increasing demand of growing urban population but also for maintenance of the existing services. But the resources of the municipal bodies are inadequate; infrastructures are in poor condition and services maintenance is neither enough nor would cover the new expansions. Inefficient governance of the municipal bodies is partly responsible for this. Holding tax plays an important role in own revenue of Pourashavas. About 35-45% revenue comes from holding tax. But in Bhairab Pourashava it contributes only 18-20%. Every year, its demands and collection are decreasing. Many factors are responsible for this. This study tries to find out the problems of holding tax collection and assessment. Pourashava requires to pay more attention to solve these problems. If...
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...AUSTRALIAN TAX LAW Contents ANSWER-01(A) 1 CASE STUDY 2 Facts 2 Option: (b) 2 Option: (c) 3 ANSWER-01 (B) 3 CASE STUDY 4 ANSWER-02 (A) 6 CASE STUDY 6 ANSWER-02(B) 7 CASE STUDY 8 REFERENCE LIST 10 ANSWER-01(A) Fringe Benefit Tax Assessment Act, 1986 (FBTAA, 1986), states that entertainment is not allowed as a tax that can be a deductible expense, as given under section 955-1 of the Income Tax Assessment Act, 1997 (ITAA, 1997). This is however only, unless till the time a Fringe benefit Tax (FBT) @ 46.5% has been paid upon the same. One also has to keep in the considerations important factors such as: * GST to be levied at 10% of the fringe benefit amount. Section 136 of FBTA also states that if there is a benefit which is provided to the employee or to the third party who is related to the third party who may be the spouse, and such a benefit has been provided in a manner which is either full or in part, as a work benefit and a liability that arises for the payment of FBT then Goods and Services Tax may also be applied on the same and the tax payer denied of the GST credits, it may also apply the lower gross-up rate for FT. There are many Companies which may organize entertainment functions for the people employed under them and the third parties with respect to these employees in the form of either gifts or parties. The party maybe on the site or offsite and include food and drink with recreations like banks and gifts may also form a part...
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...expatriates might face and affect the work abroad in terms of international human resource management (IHRM) and industrial relations (IR) issues. Deb (2009) define IHRM as ‘a strategic process of managing a global and diverse pool of talented people in such a way as to achieve aims and objectives of the organisation both at parent and subsidiary level successfully, follow ethical practices on human and business issues and be adaptable to local cultural norms and other human needs and aspirations’. And Dowling, Festing and Engle (2013, p.242) define IR as ‘The board field of study that looks at wider issues of work and employment’. The purposes of this essay are to identify and discuss the IR and HRM issues an expatriate from Melbourne could face while living and working in London. In relation to Industrial relations issues, the role of unions, employment contracts, regulations, visas, taxation, labour laws and employ compensations will be discussed. When it comes to human resource management, the essay will discuss culture, language, family, soft skills, allocation, medical secures and weather. Over the last decade, the participation in trade unions has been decreasing worldwide. The trade unions do not have the same level of power or the same affiliation in all the...
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...LAWS7012 | Business Taxation Assignment – Semester 1 | 2014 Important Facts to Note 1. The assignment is worth 40% of the assessment in this course. 2. The assignment has 2 questions. 3. You must submit your assignment before 4.00pm on Thursday, 17 April 2014. 4. Students must submit their assignment electronically via the Turnitin link [LAWS7012 | 2014 – Semester 1] in the Assignment Submission folder in the Assessment area of the course website in Blackboard. Online assignments do not require a separate cover sheet. Refer to documentation in the Assignment Submission folder on the naming requirements of the assignment file. 5. There is no prescribed word limit for this assignment and no penalties will be applied for students who exceed the suggested word limit. As a guide, your assignment could be completed in approximately 3,500 words. 6. Students must retain a hard copy of their submitted work. 7. Students need to be aware of and abide by the university’s policy on plagiarism. More detailed information on this issue can be found in: a. UQ Student Integrity and Misconduct Policy http://ppl.app.uq.edu.au/content/3.60.04-student-integrity-and-misconduct b. On-line Academic Integrity Tutorial https://www.uq.edu.au/integrity/Login.aspx?ReturnUrl=%25252fintegrity c. Law School Resource | Avoiding plagiarism http://www.law.uq.edu.au/?page=103927 8. Also, review Sections 5.3, 5.5 & 6.1 of the Course Profile for information on assessment procedures. In particular...
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...company is in ITAA36 s6(1) state that:A company which is incorporated in Australia, or which, not being incorporated in Australia carried on business in Australia, and has either its central management and control in Australia, or its voting power controlled by the shareholder who are resident of Australia. Page 77 understanding taxation law 2010 Frank GildersBut the current definition of Australia of residency company do perform a highly compulate system and the double tax with a higher tax rate, which is discourage the over-sea investor and bring trouble to Australian itself. – the decrease the competitive ability in the international trading and business market. Analysis :There are many different kind of business cooperation in which investors can do business in Australia, including corporations, branch offices, subsidiaries, trusts, joint ventures and partnerships. For the international investors, the most common way are usually form a Australian subsidiary companies or Australian branch offices. Owing to the Australia tax law, both of them have a same standard corporate tax rate. However most foreign companies choose to operate through a locally established subsidiary company, since this has the added benefits of limited liability and separate legal status. A foreign company that intends to do business in Australia must register with the Australian Securities and Investment...
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...understand List Make a list of. State Express, fully or clearly , the details/ facts of. Define Give the exact meaning of. Communicate the key features of. Distinguish Highlight the differences between. Explain Make clear or intangible/state the meaning or purpose of. Identify Recognise, establish or select after consideration. Illustrate What you are expected to know Definition Describe KNOWLEDGE Verbs used Use an example to describe or explain something. The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 2 FOUNDATION COURSE - Syllabus 2012 Study Weightage : With a syllabus subject, a percentage weightage is shown against each section topic. This is provided as a guide to the proportion of study time each topic requires. The study weightage also indicate the approximate proportional distribution of marks that may be allocated to topics in any single examination. Summary of...
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