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 hand
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
PHILIPPINE PROPERTY TAX IN PERSPECTIVE Introduction Government officials have been striving to improve property taxation in the Philippines since 1972, with considerable external financial and technical assistance. Philippine reformers have been clear and consistent in their rationale for devoting substantial resources to property tax reform: development of local government capacity to generate adequate revenue for the sustained provision of community facilities and services responsive to local
Ghana’s NHIS. The second part tries to bring out the framework for measuring cost and technical efficiency and some of the limitations associated with the usage of any particular estimation technique whilst the third aspect focuses on some empirical studies on cost and technical efficiency and empirical determinants of cost and technical efficiency. 2.1 Ghana’s National Health Insurance Schemes 2.1.1 Health
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 cost of
and Associates’ (SMA) located in Hyderabad was done, by being a part of the Internal auditing team, under the guidance of one of the partners of the firm i.e. Mr. Suresh Kumar Gupta. ‘Internal Auditing’ is one of the many services that SMA offers apart from a range of services in the field of finance, taxation and corporate advisory. This report has been divided into many sub segments explaining the different processes and terminologies related to the field of Internal
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
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
raised? The challenge for both economists and public leaders is to calculate and establish a tax level that maximizes social welfare and most efficiently raises revenues. Sin taxes generally is added to products or services which are supposed as harmful for society. In most cases this kind of tax is added to tobacco and alcohol. Sin taxes should be higher for many reasons. The main motive may be that tobacco tax increases are one of the most effective ways to reduce smoking and other tobacco use, especially
developing tax system. Tax policy was employed as a principal instrument for correcting severe budgetary system. Article 265 of constitution deals with taxes “No tax shall be levied or collected except by authority of law.” Basically there are two types of tax- Direct and Indirect Tax. Direct tax is direct charged on income, wealth etc. which is paid by an individual to the central government of India which is known as income tax. For many years government is generating revenue through this tax system