Table of Contents Chapter 1 Taxation overview---------------------------------------------------------------- 1 2 General principles ---------------------------------------------------------------- 8 3 Specific principles on gross income------------------------------------------- 12 4 Pension receipts and payments------------------------------------------------- 22 5 Double Taxation------------------------------------------------------------------ 29 6 General
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Outline of Modernization Plan (2011-2016) National Board of Revenue (NBR) 1 Table of Contents Executive Summary 1. NBR Modernization Plan 1 5 2. Progress made by NBR in implementing the Plan 3. Indicative timeline 24 25 2 Executive Summary The National Board of Revenue (NBR), as the central authority of tax policy and administration in Bangladesh, plays a critical part in the development of the country. During the current fiscal year (FY 2010-11), NBR is expected to collect
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The essential facts/rules/regulations the NRIs must know NRI Guide 2012 2012 A Comprehensive Guide for Indians residing outside India Prakash Nair Prakash@yourownadviser.com www.yourownadviser.com . 1|Page NRI GUIDE (Ver 1.00) (A Comprehensive Guide for Indians residing outside India) Prepared by Prakash Nair Prakash@yourownadviser.com www.yourownadviser.com 2|Page NRI Guide 2012 www.yourownadviser.com PREFACE This NRI guide has been compiled with the help of
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PeopleSoft 9 and 9.1 Payroll Tax Update 15-D October 2015 PeopleSoft 9 and 9.1 Payroll Tax Update 15-D Year End Processing 2015: U.S., Puerto Rico, and U. S. Territories This document provides the information you need for using PeopleSoft Payroll for North America to complete 2015 year-end payroll processing. Please feel free to contact the Oracle Global Customer Support for help with any questions you may have on the year-end programs. The telephone number is 1.800.223.1711. The pages
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CHAPTER 19 Accounting for Income Taxes ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. Reconcile pretax financial income with taxable income. 2. Identify temporary and permanent differences. 3. Determine deferred income taxes and related items— single tax rate. 4. Classification of deferred taxes. 5. Determine deferred income taxes and related items— multiple tax rates, expected future income. 6. Determine deferred taxes, multiple rates, expected future losses. 7. Carryback and carryforward
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Self-Employment Federal Taxation 2011 The world is full of opportunities, so you can do what you want and opportunity varies from person to person, some people want to work for the company while other want to be self-employed. In my opinion, there are many advantages for people who want to work for themselves and have their own business. First of all, if you are self-employed, you do not accord to the your boss’s schedule, you are totally free to decide your time, you can get up to
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Introduction This research paper will analysis and discuss the question of whether the owner of a small business corporation is better off taking a salary or drawing a dividend. The salary vs. dividend question is common among small business corporation owners. Unfortunately, there is no one straight forward answer. There are two types of share holder owners who are eligible to extract funds from a corporation, shareholders that actively work within the corporation and shareholders that
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TAXES ( Read full story on taxes ) * Standard rate of excise duty held at 10 percent; no change in CENVAT rates * Personal income tax exemption limit raised to Rs 180,000 from Rs 160,000 for individual tax payers *For senior citizens, the qualifying age reduced to 60 years and exemption limit raised to Rs 2.50 lakh. *Citizens over 80 years to have exemption limit of Rs 5 lakh. * To reduce surcharge on domestic companies to 5 percent from 7.5 percent. * A new revised income tax return
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Research Problem 1 1. Discuss the different types of interests and the IRS rule related to the deductibility of each type for tax purposes. Interest is a fee paid by a borrower of assets to the owner as a form of compensation for the use of the assets. There are different types of interests, including investment interest, qualified residence interest, student loan interest, and personal interest, which are either deductible or nondeductible. Personal interests are interests on car loans, credit
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Corporate taxation in Kenya Income Tax, or the tax on income, is charged on income of a person (individual & or Companies) for each year in accordance with section 3(1) of the Income Tax Act. S 3(1)’’..... a tax to be known as income tax shall be charged for each year of income upon all the income of a person, whether resident or non-resident, which accrued in or was derived from Kenya.’’ It is important to understand the words and phrases used in the taxation of income for easier interpretation
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