Fostering Friendships - Enhancing Social Bonds in the Classroom
Lecture1
1.
2. An amount of money that
individuals, whether natural
or legal, forcibly pay the state
to cover public Expenses,
with out any compensation
for them
What is the
tax?
3. Tax structure
It is the set of rules and
regulations established by
that country for collecting
public taxes
8. Example
estate is worth £500,000 and your tax-free
threshold is £325,000. The Inheritance Tax will be
40% of £175,000 (£500,000 minus £325,000).
Inheritance Tax=70,000
15. The following table provides a brief description of
the income tax rate in the different countries
16. Taxes in Canada
Taxes in Canada are taken at federal and provincial
Income tax
At the federal level which the tax rates ranges from 15% to
29%.
The provincial tax rates are between 4% and 25.75%,
Sales tax
At the federal level tax 5%
The provincial tax between 2% to 12%
17. Taxes in the state of Libya
• Direct tax
1. Income taxes
2. Jihad tax
• Capital taxes
1. Real estate tax
2. Livestock tax
• Indirect taxes
1. Customs tax
2. The funfair tax
3. Production fee tax
18. Article 2 of the Libyan tax law states, the Jihad tax is calculated as follows:
Ratio 1%, if the income does not exceed 50 DL
Ratio 2%, if it exceeds 50 DL
Ratio 3%, if it exceeds 100 DL
Article 75 of the Libyan tax law states, the Income tax is calculated as follows
Ratio 5%, if the income does not exceed 1000 DL
Ratio 10%, if it exceeds 1000 DL
Ratio 15%, if it exceeds 2000 DL
Ratio 20%, if it exceeds 5000 DL
• The Libyan Income Tax Law provides for annual exemption
of 840 D.L income taxes for singles
• The Libyan Income Tax Law provides for an exemption from income taxes
of 720 D.L annually for married couples
• The Libyan Income Tax Law provides for an exemption from income taxes
of 900 D.L annually for married and dependent children
19. Example:
The tax payer Ahmed’s income from salaries during the
month of October in the year 2010 reached 1000 D.L, so
what is the amount of taxes owed for this month ,Note that
he is married and has not children?
1. The jihad tax :3%
2. Income tax: 5%
Salary and wages during the month 1000 DL
(-)Tax exemption (720:12) 60 DL
net income 940 DL
Income tax 5% ×940 47DL
The jihad tax 3%×940 28.2DL
21. 1.Local councils collect a tax called business
rates from businesses and council tax from
households
22. 2. The largest origin of revenue for the UK government is personal
income tax. The second largest source are national insurance
contributions, the third value added tax (VAT) and the fourth largest is
corporation tax
incom tax
National Insurance
value added tax
corporation tax
23. 3.In the United Kingdom two kinds of taxes: - DIRECT TAXES -
INDIRECT TAXES
26. 6.CORPORATION TAX Corporation tax is a
corporate tax levied in the United Kingdom on
the profits made by companies and on the
profits of permanent establishments of non-UK
resident companies and associations that trade
in the European Union
27. 7.INHERITANCE TAX An inheritance tax is a tax
paid by a person who inherits money or
property or a levy on the estate (money and
property) of a person who has died. In the
United Kingdom, Inheritance Tax is a transfer
tax. It was introduced with effect from 18
March 1986
28. 8.CAPITAL GAINS TAX A capital gains tax is a type of tax levied
on capital gains incurred by individuals and corporations.
Capital gains are the profits that an investor realizes when he or
she sells the capital asset for a price that is higher than the
purchase price
29. 9. STAMP DUTY In the United Kingdom, stamp duty is a form of
tax charged on instruments (that is, written documents), and
historically required a physical stamp to be attached to or
impressed upon the instrument in question. The more modern
versions of the tax no longer require a physical stamp
30. 10.CUSTOMS DUTY A tax levied on imports (and, sometimes,
on exports) by the customs authorities of a country to raise
state revenue, and/or to protect domestic industries from more
efficient or predatory competitors from abroad. Customs duty
is based generally on the value of goods or upon the weight,
dimensions, or some other criteria of the item (such as the size
of the engine, in case of automobiles)
