Internet taxation

generated for the provision of infrastructure in that given country. However, one means of generating the amount of revenue for providing the needed infrastructure is through a well structured tax system (ogbona and ebimobewei, 2012). The vital role that taxation play in an economy cannot be overemphasized. Tax is a compulsory levy imposed by government or its agent on her citizens in order to raise revenue for the funding of economic activities. Nkoro and worlu, 2012 defined Tax as a fee charged or levied

Ten biggest tax havens and whether Indians can benefit from them Introduction Tax havens are countries or foreign jurisdiction that offers favourable tax and financial secrecy to it’s customers investing from outside their border. There are roughly 45 tax havens today in the world among which Switzerland ranks no.1 because when it comes to financial information of clients the country implements a high level of secrecy. The tax havens are those countries which have a low tax rate with respect to

Chapter one 1.0 INTRODUCTION In almost all nations of the world today, taxes form the most important part of governments’ venue. The need for taxation the world over and particularly, the “Third World”, has become necessary; and will remain so with the increasing dependence of the citizenry on the central government for the provision of infrastructure and other necessaries of life. In Ghana, the central government provided and continues to make available such infrastructure as roads, portable water

|20-39 | | 2.3.2 | |Tax administration |39-43 | |2.4 | |Taxation and developing economy |44-45 | | 2.4.1 | |Poverty reduction effect |45-46 | |

of climate change, the Greens will eventually get more traction. The consequences of this political shift to the left for our businesses and the country’s development may be: • Higher Taxes. To fund various expensive election promises, rates of taxation must

to international taxation. Consequently according to Li, Jinyan(2003) while e-commerce might not introduce any new problems, it is apparent that any problem already associated with an inability to synchronize or inter-relate a variety of disparate taxing systems became exacerbated by a model that facilitates the very types of transactions that result in such problems in the first instance. A fundamental change in existing tax rules does not appear to be requisite. However internet and e-commerce has

Risks in Doing Business in China E &Y China Key Points For multinational companies, China’s market has started to come of age. Despite the opportunities along with China’s WTO entry and opening up, doing business in China remains very challenging at the operational level for MNCs. Regulatory Risks Managing the regulatory environment remains a real issue for foreign firms operating in China. They have to learn how to deal with red tape, “guanxi (relationship)”

is considered a long-term. If the asset is held for less than one year prior to the disposition, the capital gain or loss is considered short-term. (http://www.irs.gov/taxtopics/tc409.html). 2. How Capital Gains are taxed: Holding Period The taxation of capital gains is treated differently depending on whether your investment is considered long-term or short-term. The

Tax Shelter I. Definition Any method of decreasing taxable income in a payments to tax collecting entities, including state and federal government. The most common type of tax shelter is an employer-sponsored 401(k)plan. a. Types of tax shelters Some tax shelters are questionable or even illegal: Offshore companies. A company which is incorporated outside the jurisdiction of its primary operations regardless of whether that jurisdiction is an offshore financial centre. Due to differing tax

Name: _____________________________ SID: ______________ THE UNIVERSITY OF NEW SOUTH WALES SCHOOL OF ACCOUNTING ACCT 5942: CORPORATE ACCOUNTING & REGULATION INCOME TAX QUIZ, SESSION 1 2012 Time allowed: Number of Questions:         Thirty minutes (no reading time) 15 INSTRUCTIONS 1. Before starting the examination complete your personal details requested on the Answer Sheet and on this Examination Booklet. 2. You must record all your answers to the multiple-choice on the computerized