Tax Essays

  • Tax Fairness: Tax Fairness

    810 Words  | 4 Pages

    Tax Fairness: Tax fairness as perceived by prior literatures could either be vertical or horizontal fairness. According to Erich, Niemirowski & Wearing (2006) vertical tax fairness is when taxpayers’ are being treated or taxed with different rate based on their different business activities. On the other hand, horizontal tax fairness is the instance where taxpayers’ are being treated equally in terms of their taxes (Michael, 1978). Horizontal tax fairness indicates that taxpayers’ that are into same

  • Individual Tax Reflection

    754 Words  | 4 Pages

    taxpayer’s property. So forcing tax helps to increase the economic growth of the government, and stabilize the price. In addition, the money collected from the taxpayers is very helpful to fund the government to serve the social purposes in their country like funding projects related to health care systems, and education systems. And there are different types of taxations such as income tax, wealth tax, wealth transfer tax, and consumption tax, tariffs and duties tax. In this reflection, I will discuss

  • Essay On Sin Tax

    1476 Words  | 6 Pages

    Gifford (1997) stated that "Sin tax in modern economic terms, are externality taxes, taxes designed to reduce behavior which is known to be 'harmful to society.” It can be categorized as excise taxes on commodities pondered to be morally threatening in some ways. It is an excise tax because its objectives are to make consumers lose interest in buying by imposing taxes on goods that are known to be harmful and lethal such as cigarettes and liquor or activities like gambling (Philippine Daily Inquirer

  • Disadvantages Of Corporate Tax

    803 Words  | 4 Pages

    WHAT IS CORPORATE TAX RATE? A levy placed on the profit of a firm, with different rates used for different levels of profits. Corporate taxes are taxes against profits earned by businesses during a given taxable period; they are generally applied to companies ' operating earnings, after expenses such as COGS, SG&A and depreciation have been deducted from revenues. Corporate taxes are usually levied by all levels of government (i.e., State and Country). Corporate tax rates and laws vary greatly around

  • Estate Tax History

    1134 Words  | 5 Pages

    History of the Estate Tax Estate tax was imposed way back in ancient times about 3000 years ago. In Egypt in the early era, it had been required to have a 10 percent tax on the transfer of assets at the time of death. Even in the first century AD, Augustus Caesar imposed taxes on inheritance and transfer of properties to all but close kin. In medieval period, since all estates and properties are owned by the king, an heir who wished to transfer properties must pay transfer taxes in order to grant

  • Tax Inequality In Society

    2060 Words  | 9 Pages

    Luxury tax is not a solution to inequality within society. Introduction A real challenge for many economists is to find a way to decrease the financial inequality within society. Several economic and political possibilities exist to decrease the big differences between the rich and the non-rich. On the one hand, providing state subsidy might be a good tool for this challenge. In this way relatively poor people in society are helped to increase their welfare and to limit inequality. On the other

  • Tax Compliance Literature Review

    815 Words  | 4 Pages

    also tax compliance. The literature review tried to justify the taxpayer’s morale and demographic factor affecting the taxpayer’s to the tax compliance 2.1 Literature Review A literature review being prepared is because to act as a justified material for the research topic. The focused variables on this studied can be obtain through demographic and taxpayer’s morale variables. This chapter also covered the hypothesis and the theoretical framework development of this study. 2.2 Tax Compliance

  • Indirect Tax In Junk Food

    749 Words  | 3 Pages

    apply an indirect tax of a 2% on the price of junk food, an inelastic product. Junk food is a demerit good with negative externalities and therefore the government wants to decrease the quantity demanded. In this case the tax applied is an Ad Valorem tax as it is a percentage of the price. Introduction to the theory: An indirect tax changes the structure of a market provoking an increase in prices and a decrease in the quantity demanded and supplied. However the effect of the tax varies depending

  • The Pros And Cons Of Tax Evasion

    758 Words  | 4 Pages

    Usually, many users of tax havens and offshore financial centers, whether for tax evasion or transfer pricing, benefit a lot from public services and facilities of their resident countries, but they make few contributions towards their maintenance, forcing other taxpayers to make considerably large contributions instead. Therefore, tax havens destabilize essential growth by deforming the financial markets and transferring investment from productive onshore activities to unproductive offshore territories

  • Essay On Tax Money

    1203 Words  | 5 Pages

    as tax. So, it becomes practically dreadful for the government to run without the tax. Every state has his own way of gathering tax from its citizen. Lack of knowledge about tax has could lead us to a range of problems. These days, we cannot survive without money. Money is used to buy requirements or provisions such as shelters, food,

  • Social Consequences Of Sinking Tax

    1201 Words  | 5 Pages

    “Sin taxes” are a type of excise tax levied on harmful products such as alcohol or tobacco. One of cigarette taxes’ purposes is to reduce smoking habits. However, what seems like a simple solution to generate revenue for the government and deter a harmful habit has social consequences that cannot be overlooked. Because cigarette taxes are currently regressing society by hurting low-income smokers and encouraging smuggling in the United States, they should either be revoked, or the generated revenue

  • Tax Dividend Irrelevance Theory

    1188 Words  | 5 Pages

    effective tax brackets. Miller and Scholes (1978) shows that the preference for dividend or capital gains depends upon tax level. They indicate that companies that pay high (low) dividends will attract investor that like (dislike) dividends. In the study of the roles of dividends, Black (1976) poses an interesting question that if companies can make a payment in cash by using lower-taxed methods such as share repurchase, why should

  • Difference Between Tax Avoidance And Tax Evasion

    727 Words  | 3 Pages

    The terms tax avoidance and tax evasion are frequently used by us in day to day conversation without knowing the literal meaning of these terms but there is a very fundamental difference between tax avoidance and tax evasion. The term tax avoidance means management of one’s own financial affairs in such a manner as to reduce tax liabilities without violating laws. Whereas tax evasion is reduction in tax liabilities by illegal means. Tax avoidance is perfectly legal and it is permissible under taxing

  • Essay On Remittance Tax

    874 Words  | 4 Pages

    The possible impact of Remittance tax on the expat population One of the measures proposed to combat the drop in oil prices, and to introduce fresh revenue streams into the economies of some Gulf countries is through taxing the money sent by the expat population to their home countries in the form of remittance. The Kuwait Government and Parliament have expressed their support for a proposal that will impose taxes on expatriates’ remittances according to the latest media reports. The details mentioned

  • Double Tax Avoidance In India

    713 Words  | 3 Pages

    This had emerged a complex world of business along with complex world of Accounting & Taxation. The country has a right to tax on the profits earned in its land by anyone and also to tax the global income of its residence. This leads to taxation of same income more than once in different countries. To avoid this double taxation of same income, countries are entering into Double tax avoidance agreement ( hereinafter referred to as DTAA) with each other. There is generally bi-lateral agreement which

  • Disadvantages Of Tax In Malaysia

    1242 Words  | 5 Pages

    you earn an income, you must pay a tax. Nobody can run away from paying tax. However, a taxpayer may be an individual or an entity such as business that is obligated to pay a certain amount of their income to the government. Tax aids the government to improve and enhance the country by providing facilities and build infrastructure and resources for the society. Tax can be catogerized into two category which is direct tax and indirect tax. Direct tax is a tax which the burden cannot be pass on

  • Importance Of Estate Tax

    1126 Words  | 5 Pages

    MEMORANDUM To: Alex Lee From: RE: ESTATE TAX AND STRATEGIES ON HOW TO MINIMISE IT Estate tax is imposed when the taxable estate of a deceased person is transferred through a will or according to state of laws of intestacy if the deceased died without leaving a valid will. For the tax to apply on an estate, the person must have died during a period when the federal estate tax is in effect. Various factors determine the amount of estate tax charged on any certain estate. One of the most important

  • Tax Revenue In Malta

    761 Words  | 4 Pages

    short), is responsible for the government’s tax revenue in Malta. It is the IRD’s duty to keep records of and administer daily the Income Tax and the Capital Transfer Duty and enforce the Social Security Contributions, by order of the Ministry of Finance. Analysing a time-series data of the Maltese government’s tax revenue throughout the years, mostly in the past 25 years, we could obtain some important information regarding any changes and trends in the tax burden in our economy. Several studies and

  • Mauritius Tax Evasion Case Study

    1247 Words  | 5 Pages

    for tax evasion and to what extent the measures that are being taken by the Government to combat this bad publicity are effective. The specific objectives of this study are:  To understand the purpose and functioning of treaty arrangements Mauritius has with other countries throughout the world.  To test the effectiveness of the measures to combat tax evasion.  To test the knowledge of employees in the global business sector. Research questions  To what extent employees understand the tax regime

  • Essay On Tax Evasion

    1207 Words  | 5 Pages

    SHORT NOTES ON:- TAX AVOIDANCE AND TAX EVASION INTRODUCTION:- The terms "tax avoidance" and "tax evasion" are often used interchangeably, but they are very different concepts. Basically, tax avoidance is legal, while tax evasion is not. In the case of IRC v Duke of Westminster [1936] AC 1, Lord Tomlin stated: “Every man is entitled, if he can, to order his affairs so that the tax attaching under the appropriate Acts is less than it otherwise would be