of Tax Evasion: An Annotated Bibliography Tax evasion is an illegal activity in which a person or business intentionally evades paying his or her true taxes, whether not paying at all or not enough. If people are caught evading taxes, they are subject to criminal charges and significant penalties. Tax evasion is a federal offense under the IRS tax code. There is also an ethical issue concerning tax evasion. There is a moral obligation to pay. I chose to focus my research on the ethics of tax evasion
CHAPTER 2: LITERATURE REVIEW "Fear is the tax that conscience pays to guilt." 2.1 Definition of Taxation Taxes are levied in almost every part of the world. Since this dissertation is based solely on tax, a definition of tax seems important. According to the Concise Oxford Dictionary, the word ‘tax’ is defined as “A compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions.” On the other
the tax revenue required to finance their public sectors. The revenue mobilization is believed limited by tax avoidance and tax evasion. Tax avoidance is an activity whereas the person or a business may undertake in order to reduce tax payments while tax evasion is defined as a violation of law. In developing countries, the tax revenue losses due to tax avoidance and tax evasion are differing between a domestic component and international component. Instead of knowing the differences of tax avoidance
its role in banking industry crises and failure (case study of Kenya) and an empirical investigation on the opinion of experienced experts of Kenya banking industry. 1.3.2. Specific objectives i. To investigate whether creative accounting practices cause banking industry crises and failure in Kenya. ii. To examine the reasons for the increased use of creative accounting practices in Kenya banking
This section presents a brief review of existing theoretical and empirical literature of tax and tax administration. This review of literature establishes the framework for the study and high lights the noticeable strength and weakness of previous studies, which in return help in clearly identifying the gap in the literature and formulating the research question for the study. 2.1. Definitions and Concepts of Tax Taxes are a portion of private wealth, exacted from individuals by the state for meeting
activities and in the incentives of investing. Generally, the tax structure has to be tailored considering the country's economic structure, its capacity to generate revenue from them, its public service needs, ability to collect them and a myriad of other factors. The main purpose of taxes is to create sufficient income to finance the government services to the public in a way that does not increase the inflation. The structure of tax system is related with the level of development, the need or want
joint the relationship between tax evasion, illegal activities, and information-distorting activities. The underground, hidden, informal and clandestine economy is not composed of illicit activities, but also undeclared income that comes from the production of legal goods and services, both monetary transactions and barter transactions. Therefore, the underground economy includes all economic activity that, in general, would be subject to taxes if it were declared to the tax authorities. However, it is
later as public opposed to pay the tax (Kasipillai, 2000). Over the years, Malaysian tax system is transformed and growth. Inland Revenue Board of Malaysia (IRBM) introduced the Self-Assessment System (SAS) for corporations in 2001 and followed by all other taxpayers (included individuals) in 2004, to replace the former Official Assessment System (OAS) (Loo, Evans, & McKerchar, 2010; Fatt & Khin, 2011). In the OAS system, taxpayers have to file their yearly tax returns within stipulate time and will
I) Direct taxes are the ones that are directly taken from the outcomes of individuals or firms. This means that it’s the person or the firm that has the responsibility of paying the tax. Direct taxes include income taxes, inheritance taxes, corporation taxes on company profits and capital gains taxes due to properties or other values. On the other hand, indirect taxes are the ones taken only indirectly from incomes spent on goods and services. This taxes can also be called expenditure or outlay
The Sharing Economy Technology has revolutionized how people do business in the modern world. More importantly, technology keeps changing, making it impossible to stick to one way of doing business for too long. This is why the sharing economy has gained popularity so fast, resulting in the development of an all new business model that did not exist a few years ago. As a matter of fact, the sharing economy is worth billions of dollars and has raised concerns amongst people who want to stick to the