CHAPTER 1: INTRODUCTION 1.1: TAXATION Oliver Wendell Holmes, Jr. said: “Taxes are the price we pay for civilization. More specifically, taxes are the price we pay for the Canada we love. This means that for a country to attain civilization, there must be tax rules in place”. “Cooley defines taxation as the process or means by which the sovereign, through its law-making body, raises income to defray the necessary expenses of government. Expressed in another way, it is a method of apportioning the
Californian Copper Syndicate v Harris (1904) 5 TC 159 This principle of this case is to examine the issue of the realisation of a capital asset and determine that the profit from the sales of a land to be mined for its minerals was assessable as ordinary income or is it capital in nature. California Copper Syndicate purchased a land for the purposes of mining copper. However, the company did not mined the land, instead went off to sold the land to a mining company ( Harris) at a profit in exchange
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
Furthermore, the real property acquisition for the public benefit is dependent on the land administration system [9]. Turkey has a land registry and cadastral system [12-13]. Real property is a spatially defined unit of Earth’s surface (land unit-parcel) with all permanent things attached to it. All other things are defined as movables. The basic right
The key attraction of the silent informal economy is financial aspects. The activity allows employers, paid employees, and self-employed to increase their take-home earnings or reduce their costs by escaping taxation and social contributions. It is means of employment who cannot find a job in the formal sector. Definitions of informal sector, however, are different across the different schools of thought and have a lot of definitions given by the different researchers
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 the expenditure essential to carrying out the functions of government. Taxation in some form is an invariable attribute of an
public resource mobilization. An empirical investigation conducted by Oates (1972) for 42 countries reveals a strong and statically significant negative association. The study was done by regressing tax revenue (size of public sector) on a fiscal decentralization ratio (central revenue as proportion of the total). In another study, Oates (1985) explored the question again for 43 countries (18 industrial and 25 developing). The results proved that for the entire sample, the rank correlation between
Ease of Doing Business in India Introduction What does “Ease of doing business” mean? If we go to the literal meaning – It refers to the ease with which an entity, whether it be an individual or a large corporation, can start and run a new business to earn profit. Suppose you decide that after this national convention, you want to open a business of any kind, then how fast, how easily and how economically can you do so, that is exactly what is meant by “Ease of Doing Business” in a lay man’s terms
Population benefits from both physiological and literacy needs offered by many companies in South Africa. These activities are provided in order to expand the organisations or even to make the population aware of situations around them. In this case study, capacity building is provided by Steve Biko Foundation in order to make individuals know and express their value, potential and learn how to be able to learn and use their basic skills in their personal and work life. Corporate social responsibility
Kodansha International • Miyajima, H (1994) Japan's Aging Society Japanese Economic Studies Journal Winter 1993-94 Vol 21, No 6 pp 3-25 • Miyazaki, Y (1990) The Dollar and the Yen Japanese Economic Studies Journal Fall 1990 Vol 19, No 1 pp 3-31 • Nakamura, T (1986) Lectures on Modern Japanese Economic History Iwatani Shoten • Nikami, K (1990) Management of Japan's Securities Companies Japanese Economic Studies Journal Fall 1990 Vol 19, No 1 pp