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

Q: Which of the following is the least likely reason why the 6% capital gains tax is a final tax?

A: First let us understand what is a final tax. Final taxation system focus on the transaction, and…

Q: e effect of financial distress and taxation on​ gearing?   A. Both constrain gearing   B. The…

A: Gearing in accounting means how much is the debt against the equity in the capital structure of the…

Q: Which of the following is a characteristic of tax? b. a. The amount to be collected is limited to…

A: Here discuss about the details of the characteristic of the taxes as well.  There are some district…

Q: Explain each of the following statements independently: a. Tax systems should be fair. b. The…

A: SOLUTION A- The Fair Tax Plan is a sales tax proposal to replace the current U.S. income tax…

Q: What types of income should not be classified as such on a tax return? Why shouldn't they be…

A: Answer Nontaxable income won’t be taxed, whether or not you enter it on your tax return. nontaxable…

Q: Analysts should treat deferred tax liabilities that are expected to reverse as:A . equity.B .…

A: Option (B)is correct.

Q: Adopting wrongful means to show less profit to avoid tax is part of : a. Tax evasion b. Tax planning…

A: Tax is being the compulsory payment that is to be made to the government by the corporations,…

Q: What is Professional Tax and give examples?

A: A tax is a financial charge imposed by government. It is a source of income for the governments to…

Q: Give an idea or opinion on how to catch those practicing tax evasion.

A: In this question . we will explain that how to catch those practicing tax evasion.

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: 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: 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: xplain the benefit approach and ability to pay approach with tax equity. Which approach is…

A: Taxes are the payments made by the individuals and corporation on their earnings. It is a compulsory…

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: 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: , whereby a taxpayer deducts the total amount of money spent on various expenses, such as gifts to…

A: Tax refers to the percentile form of the obligation imposed by the government over the income earned…

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: What is the difference between tax avoidance and tax evasion?

A: The answer for the theory question on the difference between tax avoidance and tax evasion is…

Q: tax collection systems is tax evasion practices

A: First option is wrong because Withholding System on Business Tax is a tax collection system which is…

Q: the difference between “tax evasion”, “tax avoidance”, and “tax planning”.

A: The differences for terms tax evasion,tax avoidance and tax planning are shown below

Q: What is meant by two terms, ‘tax evasion’ and ‘tax avoidance’? Give your answer with examples of…

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

Q: e from Tax Evasion?

A: The difference is given as,

Q: Is it necessary for the tax agent to use professional skepticism? Alternatively, expert judgment is…

A: Introduction: Auditing is the inspection of a company's financial statements to evaluate whether or…

Q: Describe the Replacement Analysis with Tax Considerations?

A: Introduction: Capital budgeting is one of the important techniques used to determine the value that…

Q: What is the effect on the tax liability of a taxpayer who does not protest an assessmer

A: Deficiency Taxes: It is the amount of tax as per the tax authority which is not paid by the…

Q: How can we use Replacement Analysis with Tax Considerations?

A: Using of replacement analysis with tax consideration help the investor in order to select the best…

Q: Discuss to what extent deferred tax accounting can be used for income smoothing.

A: Deferred tax is referred as an income taxes for the tax on the losses or profits of the company…

Q: Questions: 1) Is the proposed sin tax progressive or regressive? Who will be burdened most? Why? 2)…

A: Sin Taxes The applicability of sin taxes mainly incurred for the harmful product in the society as…

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: Can the effective rate of tax be negative? Why? or Why

A: it is sometimes possible that effective tax may be negative.This is but rare cases but sometimes it…

Q: Briefly explain what factors significantly affect tax avoidance

A: Tax avoidance is a mechanism through which a taxpayer takes advantages of the loopholes in the tax…

Q: consequence of underestimating provisional tax

A: Provisional tax is the amount of tax to be paid by taxpayers earning income other than salary in…

Q: Is skepticism necessary for a tax agent? Alternatively, one's expert judgment may suffice

A: An audit is an examination of a company's financial records to determine whether or not they are…

Q: difference between Tax Avoidance and Tax Evasion

A: The question talks about two terms : Tax Avoidance and Tax Evasion Hence. Let's first understand the…

Q: ll be a tax

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

Q: What will be the effect after To complete a successful tax-deferred exchange for the investor?

A: Tax Deferred : It refers to the instances when the tax payer delays payment of tax for some future…

Q: Please answer with valid reason   True or False   In general Before Tax IRR should be lower than…

A: IRR :— Internal rate of return is the rate of Discount at which the sum of Discounted cash Inflow…

Q: Do the tax agent need to have a professional scepticism? Or just professional judgement is enough

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

Q: Tax avoidance is deliberately ignoring a specific provision in the Income Tax Ac True or False

A: Tax avoidance is the term which is defined as the legal use of the tax regime within the single…

Q: Which of the following are true about Deferred Tax Liabilities? (check all that apply) In the…

A: Deferred tax liabilities and deferred tax assets arise when there are timing differences between…

Q: What is the advantage of Making versus Buying? Give a scenario and explain the effect focusing on…

A: A make-or-buy decision is an act of choosing whether the product manufacture in-house or…

Q: In the case of property tax, government costs are low but taxpayer cost are high

A: Property tax levy is imposed primarily on land and buildings and also imposed on business,farm…

Q: Which of the following is a correct statement? O Tax avoidance includes failure to pay tax on…

A: Tax is the amount which the tax payer pays to the government when the income of an individual goes…

Q: between refundable tax credits and non-refundable tax credits and which is more valuable

A: The amount of money that is allowed to be reduced from overall tax liability of taxpayer is known as…