Explain each of the following statements independently: a. Tax systems should be fair. b. The tax calculation will not be correct whenever income tax preferences exist. c. Fiscal policies are used to judge tax systems and achieve government objectives.

Q: One of the bases that the legislator must take into consideration when developing tax legislation in…

A: Developing a tax legislation in any countryhas very wide scope and definition, therefore

Q: On theoretical basis of tawation, which of the folowing true? powers and territorial domination. b.…

A: 1. Taxation is the major source of income of government. Government collect taxes and use it for the…

Q: Which is an incorrect statement regarding taxes? *       a. Taxes are necessary for the continued…

A: Taxes are the compulsory fees or financial charge imposed by the government on the taxpayers.

Q: Discuss the importance of taxes in decision making.

A: A tax is considered an important financial charge imposed by the government over the public. Tax is…

Q: 1. Explain how value-added tax (VAT) works and its advantages and disadvantages from businesses,…

A: Disclaimer: "Since you have asked multiple questions in a single question we answered first question…

Q: Why is tax policy considered to be a blunt instruction?

A: Tax : Governments levy taxes on residents to create revenue for projects that would strengthen the…

Q: 1. The following defines taxation, except: *   a. It is an inherent power of the state. b. It is an…

A: Federal Tax: Federal tax is levied by US Federal government and paid to the national government. The…

Q: If there is a conflict between a BIR Ruling and a Revenue Memorandum Ruling, which will prevail?

A: The Bureau of Internal Revenue work under the department of finance and all the duties and…

Q: Which of the following is not a goal of the tax law? a.Economic goals such as reduction in…

A: Solution: Following are the goal of tax law: 1. Economic goals such as reduction in unemployment. 2.…

Q: Revenue of the government is composed of tax and other source of income. * A. True B. False

A:

Q: on. You are required to Explain the measures that govern

A: Taxes are mandatory or monetary charges that the government imposes on individuals or organizations…

Q: Regarding taxpayers having a tough time of volume of tax regulations. What does the concept…

A: Substance over form: It is an accounting concept, which means that the business must record those…

Q: False Tax policies can be defined as Government's attitudes, objectives and actions with respects to…

A: The number of questions which has been asked is the four question which are multiple choice…

Q: The primary purpose of taxation is to raise revenue for the support of the government. However,…

A: Taxes are the amounts of liabilities that are to be paid by the persons to the government either…

Q: What are the principles of a sound tax system? Briefly explain each

A: Introduction:- The tax system is described as a legally controlled system of public relations based…

Q: The act of the CIR is in keeping with the principle of: a. Administrative Feasibility b. Fiscal…

A: Introduction: The commissioner of internal revenue is a person who is considered to be the head of…

Q: Explain the main differences between tax evasion and tax avoidance and list the main actions taken…

A: Tax evasion is the use of illegal methods of concealing income or information from the IRS or other…

Q: What’s the difference? Explain to Laura how differences between financial reportingstandards and…

A: Accounting income reported in accordance with financial reporting standards and taxable income under…

Q: f ambiguity, tax exemptions shall be interpreted liberally in favor of the government. Group of…

A: Tax exemptions are given for the benefits of assessee.

Q: Which of the following is the best definition of tax planning? Oa. Planning taxpayers' financial…

A: Tax planning refers to financial planning for tax efficiency to reduce tax liability and optimally…

Q: Explain the informational benefit from required disclosure of tax abatements provided by state and…

A: Statement 77 rules the tax abatement. Tax abatement is generally offered by the government as a…

Q: It is the tax legislator who determines the value of the offer true Error 0

A: Value is determined as per law rules and regulations

Q: Explain why administrative and compliance costs of taxation is important regarding taxation? What…

A: Taxable income is the amount of income computed to measure the amount of taxes to be paid to the…

Q: analyze possible reasons (any five) for individuals to evade and avoid taxes and suggest remedial…

A: Since information spills, governments all throughout the planet have recovered more than $1.2…

Q: Give a critical analysis and give a clear recommendation of how government should tax its nationals,…

A: A tax is a charge which a taxpayer has to pay towards government on the taxable income. A tax is…

Q: What are the ethical responsibilities of the tax practitioner in dealing with tax evasion?

A: Tax evasion is a criminal crime that occurs when a person or business willfully fails to pay a…

Q: The ideal taxation system is a good tax system, that is, it must comply government needs whose…

A: Government charges two different taxes from its customer. One is direct tax and the other is…

Q: The purposes and objectives of taxation are as follows, except    a. It is a means of reducing…

A: The objectives of taxation includes: resource allocation income distribution price stability…

Q: Should the IRS and the Department of the Treasury consider alternative tax systems, such as Flat…

A: Taxes refers to the money or amount of sum that the government requires people or businessman as…

Q: Which among the type of taxes (national or local) do you think can be reduced, removed, or revised…

A: Taxes are an importance source of revenue for the governments to spend on infrastructure. But at the…

Q: Which of the following statements is/are correct criteria of the good tax? a. Good taxation should…

A: Fairness, sufficiency, simplicity, transparency, and administrative convenience are the five…

Q: The government should tax itself? Yes or no

A: A tax is a sum of money that is must be paid to the government in order for it to provide public…

Q: With the intention of limiting contact by taxpayers when dealing with the BIR and at the same time…

A: Taxable income is the amount of income computed to measure the amount of taxes to be paid to the…

Q: Discuss the differences of tax planning and tax management.

A: Tax planning is the process or technique which is used in reduction of tax liability of the business…

Q: Is it appropriate or inappropriate for government tax enforcement officials to socialize with tax…

A: Every individual and company is liable to pay tax to the government. But the individual and company…

Q: Which of the following is not considered a purpose of taxation?    A. To regulate B. To make the…

A: Tax means the mandatory payment made by tax payer to the government without expecting anything…

Q: True or False The goal of tax planning is tax minimization.

A: The given statement is true.

Q: tax accounting,

A: Accounting refers to the process of recording and summarizing all the business and financial…

Q: Being legislative in nature, the power to tax may not be delegated, еxcept a. Tolocal gavemments or…

A: Taxes are the amount that are to be paid to government on account of income earned or on sale of…

Q: The power to tax is provided for by the Constitution, the National Internal Revenue Code, Special…

A: Solution: True, The power to tax is provided for by the Constitution, the National Internal Revenue…

Q: What are the three areas of government that can create tax law? How does each area function?

A: Tax laws refer to the regulations, laws and rules which states that how, how much and when one must…

Q: ll be a tax

A: Tax refers to the percentile charges imposed by the authoritative government over the income gained…

Q: What is the difference between tax rates and tax rate structures? How does this notion of…

A: Income tax payable is an obligation for the tax payers to the government on the taxable income.…

Q: Discuss the potential advantages and disadvantages of implementing an internal business…

A: An internal business process measure, that is the total dollar amount of tax refund generated would…

Q: Does the concept of a progressive (and fair) tax system become undermined by the ability to tweak…

A: Progressive tax system The concept of progressive tax system is simple to collect more taxes from…