How are national taxes similar to and/or different from local taxes?

Q: Finance Explain why cross-border tax-related disputes can arise in different ways?

A: Taxes is referred as the mandatory contributions, which used to levy on the companies or individuals…

Q: What effect do permanent differences have on deferred income taxes?

A:

Q: How can we determine Corporate Taxes?

A: Definition: Corporate taxes are the source of income for the government or the nation which is…

Q: What other agencies and bodies are involved in the tax system in New Zealand?

A: Tax is a charge which is levied by government. There are two types of taxes which are; 1) Direct…

Q: American Opportunity tax credit

A: This is a multiple-choice question in which we have to select the correct option. This question is…

Q: different taxes collected

A: Tax is the revenue of a country collected from it's taxpayers as a percentage of their income, value…

Q: how is the US income tax system unique?  Do you think it is good for tax payers?

A: The US Income Tax system is a robuts and strong system and the federal income tax is the largest…

Q: What is the tax shield of interest?

A: Interest tax shields: It alludes to the assessment obligation decrease because of the interest…

Q: What is Philippine Tax System?

A: Philippine Tax System: The laws governing taxation in the Philippines are contained inside the…

Q: What are the objectives of accounting for income taxes?

A: FASB Summary of Statement No. 109 defines objectives of Accounting for Income Taxes.

Q: Why do deferred taxes arise

A: The deferred taxes usually arise when there is balance of over or advance payment of taxes to an…

Q: What is meant by “tax allocation within a period”? What is the justification for such practice?

A: Tax: Tax refers to a compulsory payment or a contribution to the state revenue, levied by the…

Q: what is meant by automatic exchange of information for International Tax?

A: International taxation is referred to as the study or determination of tax on the business or person…

Q: explain what constitute  the variables of tax planning

A: There are mainly four variables upon which tax consequence of all the transactions depended: These…

Q: Which of the following is a local tax? *

A: Option a is wrong because value added tax is an indirect tax imposed on the value of goods and…

Q: How do you calculate withholding taxes?

A: Federal income tax withholding:  The amounts which the employer withheld from employees’ gross pay…

Q: d. either current or expected future tax laws

A: Taxes are the amount of dues or liabilities that need to be paid by the individual to the…

Q: What is deferred tax?

A: Balance sheet is the statement that indicates the final position of an entity.

Q: What’s the difference between marginal and average tax rates?

A: The taxes are the government source of income from the general public. The tax rate are the…

Q: Discuss the primary differences between U.S. GAAP and IFRS with respect to accounting for income…

A: Generally Accepted Accounting Principles: GAAP (Generally Accepted Accounting Principles) is a…

Q: What are the situs rules on income tax situs on sales of goods?

A: Income tax:A tax charged on the income earned by the individual or corporates by the central…

Q: What are FUTA and SUTA taxes? Is there any possible reduction in the FUTA tax rate? If so, what is…

A: Introduction: Employer payroll taxes are paid by the employer from its own funds on the basis of…

Q: What problems might create from payroll tax deferral?

A: Highlights of the payroll tax deferral scheme:- It applies to all those employees whose before tax…

Q: What is a temporary difference related to deferred taxes?

A: Deferred Taxes:   The timing difference of tax effect called Deferred tax. Its recognized on all…

Q: Blank income is subject to federal taxes?

A: What is Federal Taxes?    Federal revenue enhancement is that the tax levied by the inner Revenue…

Q: FIT (Federal Income Tax) is tax paid from your income to the national level of government. Your…

A: Tax is a payment made to the government by a taxpayer for the government or social resources used by…

Q: What are the constitutional limitations on the State's power to tax

A: Constitution of the United States: The Constitution of the United States is the preeminent law of…

Q: What is the American Opportunity tax credit?

A: For the first four years of higher education, the American Opportunity Tax Credit is a credit for…

Q: Why might the effective tax rate paid on income earned within a country be different from that…

A:

Q: Vat tax - the popularity of this type of tax, the nature of this type of tax and the effect on…

A: Value Added Tax (VAT):  It is a consumption tax placed on manufactured goods, at whatever time value…

Q: What are the distinctions between deferred tax assets and deferred tax liabilities?

A:

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: What are the tax implications of Social Security? Is it taxable at the Federal Level?, the State…

A: If you have other substantial income in addition to socoal security  benefits, then you have to pay…

Q: Is fringe tax considered a penalty tax?

A: A fringe benefit is a final tax on an employee's salary that the company is required to withhold.…

Q: What are the aspects of Taxation?

A: Taxation Taxation is important for the country which can be generate revenue to the government to…

Q: Why are tax havens controversial?

A: Tax haven are part of a country where foreign investors have to pay a very low tax rate for certain…

Q: What is meant by an effective tax rate? What does it measure?

A: The effective tax rate is the percent of individual or a corporation’s income that they pays in…

Q: What is a State in taxation?

A: State in which you live is important for tax point of view and state in which you work is important…

Q: What type of tax is sales tax

A: There are two types of tax. These are: Direct tax: Direct taxes are the taxes that are paid by the…

Q: What is the income tax still due after foreign tax credits?

A: RCIT is the acronym of regular corporate income tax which is the tax rate which is charged on the…

Q: Which is not a source of federal revenue? Employment taxes Estate and gift taxes Taxes on…

A: Taxes are the compulsory payment made by the assessee to the government. For example , income tax ,…

Q: What is tax due?

A: Tax Due: Tax due is the tax liability that is payable by any individual person or a corporate body…

Q: What are direct taxes?

A: The financial position of the company can be arrived from the income statement prepared by the…