Taxation

Differences between IFRS and U.S GAAP Duoyi Zhang (1) | Issue: |Measurement basis of agricultural crops, livestock, orchards, | | |forests. | |1.IFRS IAS 41, Para 10-33 |Fair value with value changes recognized in profit or loss. | |2.U.S GAAP

Abstract Increasing the United States federal gasoline tax is currently a debated issue as a means of curtailing dependency on foreign oil and improving the country’s environment. An increases, however, would be regressive and would place another hardship on citizens who already feel as if taxes are too high. Because of the unpopularity of such a tax, nationally elected officials have not seriously floated the plan as means of raising revenue, but it could be used as a means to progressively cut

Income tax brings a total revenue of nearly $160 billion. It’s the largest source of revenue from tax with a percentage of 47.1% of total tax revenue is taken up by income tax. However questions must be asked about what if the income tax is changed. The three issues which follow this change are as follows: • Increasing income tax- effects on total revenue/ tax take • Decreasing the income tax- effect on fairness, equity and revenue • Tax mix- if income tax is increased/ decreased what needs to be

Economics is an integral part of civilization of the world. In any case, economics issues that emerged in the community is practically quite difficult to resolve. Henry Hazlitt in his book "Economic in one lesson" revealed that economics is overshadowed by fallacies because of two main factors which intensify the problem’s complexity. The first factor is the tendency of people to defend their respective interests. Although some of groups have similar interests with all other groups, yet in fact,

Negative gearing is a controversial issue and has been a hotly contested debate amongst the Australian government and Reserve Bank. In my opinion, negative gearing should neither be abolished nor stay the same. Instead, we need a tax reform of this policy. In doing so, there should be a limit as to how much loss a taxpayer can deduct from his negatively geared investment property. This limit should be no larger than one’s assessable income. This way, bias towards investments producing capital gains

Goods and Services Tax (GST) in Australia Australia’s tax system is in dire need of reform and the way in which the system is altered is set to be one of the major topics of debate in the coming year, leading up to the Federal Budget in May and the Australian Federal Election in the latter half of the year. One of the proposals is an increase in the GST from its current 10% up to 15%, as part of the nationwide tax reform. The Goods and Services Tax (GST) was introduced into the Australian economy

Another implication with the imposition of a carbon tax or cap and trade system is that depending on the industry specialization of the country, it can result in primarily hurting the industries that are key actors in the local economy. Hence, at times, it is difficult for industries to promote clean energy at a reasonable time to internalize the extra cost imposed on them through a carbon tax policy. For instance, the Conservative government in Canada had opposed carbon pricing, arguing that it

In modern world a lot of companies will start their business in other countries, to become an international enterprise with economic development and global popularity (TAST, 2014). International companies to carry out their business around the world, multinational corporations are an important driving force of internationalization and globalization, so that business will not be limited to one country, and increase the company 's sales, also conducive to global companies seeking cheaper labour on

Taxes and subsidies affect the price of a good or service. An imposed tax or subsidy usually holds a greater effect, by benefiting or hurting, on one of the two parties- either consumers or producers. Generally the public view taxes as a negative concept and subsidies as a positive one. Both of these two government regulated impositions create a wedge between the prices paid by buyers and the amount received by sellers and play a huge role in the economic world. Taxes can be defined as an involuntary

1. The merger is a qualifying reorganization. It is a forward triangular merger, §368(a)(2)(D), because the parent (ODI) created a subsidiary (Atlantic) with the contribution of its stock (the ODI Nonvoting Preferred Stock), and then the target (CPI) merges into the subsidiary (Atlantic). CPI’s shareholders will receive the nonvoting preferred stock of ODI, and CPI will disappear. The requirements necessary under §368(a)(2)(D) is that the subsidiary acquires substantially all of the target’s assets