India's Tax Structure History and GST Impact

Essay On Tax Structure Of India
History of tax structure in India
Direct Taxes:
These are taxes which are directly taken from the citizen of a country and are deducted from their incomes.
Thus, the tax is paid by the person who bears the economic burden of the income generated.
Examples: Income Tax and Corporate Tax. Indirect Taxes:
These are taxes paid by the intermediaries on behalf of the final consumer who bears the ultimate economic burden of the tax. These were collected by
both the central and state governments. The central government collects variety of taxes such as:
1. Excise Tax (collected on the production and manufacturing of goods)
2. Service Tax (collected on services provided)
3. Customs (collected on international trade)
The state government ... Show more content on Helpwriting.net ...
This led to quite a few shortcomings, such as:
1. Cascading Effect (Tax on Tax)
2. Tax Evasion
3. Corruption All this led to lesser tax collection, as expected by the government, and also an increase in the price level. Hence the government of
India launched GST (GOODS AND SERVICE TAX ). Introduction of GST intaxation system GST (Goods and Service Tax) also known as giant
indirect tax structure formed to support the economic growth of any country. More than 150 countries have implemented GST in their taxation
system. The idea of GST in india was rooted by Vajpayee govt in 2000 and the amendment was passed for same by the loksabha on 6th May 2015
but was yet to be passed in rajyasabha. What is GST? Goods and Service Tax (GST) is a tax applied on manufacture, sale and consumption of
goods and services at a national level. It will be an uniform indirect tax and applied uniformly on all goods and services. By introducing GST into
practice there would be amalgamation of central and state taxes into single tax payement. However, exports and direct tax like income tax,
corporate tax and capital gain tax will not be affected by GST. It was basically introduced to overcome the problems of the earlier taxation system.
Major benefit of introducing GST is its nature of it being indifferent to goods and services as the tax is levied at each stage of the supply chain. Also,
all sectors will be taxed with very few exemptions

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A Guide to Zimbabwe Goverment Revenue
A GUIDE TO ZIMBABWE GOVERNMENT REVENUE| A Toolkit and Guide for Legislators and Civil Society Organizations| | This toolkit is meant
to equip Legislators and Civil Society Organizations to effectively monitor the Government of Zimbabwe Revenues as part of the broader Budgetary
Policy Analysis and input| | | |
Table of Contents Chapter 1: Introduction4 1.1Background4 1.2Enabling Legislations4 1.3Tax Reforms5 1.4Taxes and the economy6 1.5The toolkit6
Chapter 2: Government Revenues categories8 2.1Definition of Revenue8 2.2Types of Government Revenue8 2.3Major Taxes charged in Zimbabwe10
2.4Major Tax Types14 2.5Non–tax revenues:14 2.5.1User charges14 2.5.2Administrative ... Show more content on Helpwriting.net ...
Prior to independence and up to 2001, the principal tax collection agencies were known as the Department of Taxes and the Department of Customs
and Excise. The Department of Taxes was charged with the collection of corporate tax, sales tax, personal income tax, capital gains tax, etc, while the
department of Customs and Excise's duty collected border taxes and the so–called "sin taxes" in the form of liquor and tobacco excise taxes. Economic
reforms dictated by the IMF and the World Bank brought in a wave of reforms in the revenue collection capacities of state and its agencies. Aside from
the introduction and implementation of user fees in services departments such as schools, clinics and hospitals, the reforms culminated in the
combination of the two key departments to form the Zimbabwe Revenue Authority (ZIMRA), headed by a Commissioner General. ZIMRA was
established on 19 January 2001 as a successor organisation to the then Department of Taxes and the Department of Customs and Excise following the
promulgation of the Revenue Authority Act on February 11, 2000. Among other reasons for this amalgamation were the world trends, desire to
improve efficiency by reducing bottlenecks and duplication of roles. This harmonized revenue collection agency worked at purging corruption
particularly at border posts, by implementing a complete

Introduction Of The Cross Border Shopping
Cross–Border Shopping
Introduction
Emergence of revolution in the world led to globalization. Hitherto, people gain from the massive and healthy business trades across the borders. In
this case, one country is able to gain from selling or buying of goods. At some point, countries realized the importance of creating a global trading
arena to encourage the producers from all nations. In this regard, people enjoyed from some exemptions that interfered with flow of goods and service
across borders. Despite the vast advantage that parties enjoy in this kind of trade, they face various hurdles, which demoralize them as they perform
their business transactions. For instance, changes in the economic status in one of the countries result in reduction in value of goods. Likewise, some
traders may suffer due to high rates of taxation in the bordering countries.
Understanding the concept of cross border shopping
The presence of competition in the indirect tax within the export and import zones leads to the creation of horizontal tax externalities. Vertical tax
externalities may also arise between the central and regional government. In most of the cases, both countries tend to maximize revenue through tax
collection through purchasing and selling of goods. One party may therefore set policies that aim at in increasing tax collection (Lucas 369). Likewise,
the government may also balance the availability of imports in the country by employing certain regulations that minimizes their

OECD Advantages And Disadvantages
implementation of the convention on combating bribery of foreign officials in international business transactions. The OECD may produce standards
and models such as bilateral treaties on taxation, corporate governance guidelines or environmental guidelines. Budget: The size of the budget is
determined every two years by the member countries. The OECD's financial statements are audited annually by external, independent auditors.
Planning and budgeting and management are performed on a results based system. Each member country contributes funds based on a formula which
takes account of the size of the country's economy. The largest contributor is the United States followed by Japan. Countries can make voluntary
donations in times of crises. The organisation unlike the International Monetary Fund or World Bank does not make loans or grants. Other
stakeholders: OECD.org (2017) identifies its cooperation with civil society and states it "is committed to giving a voice to civil society stakeholders
and helping ensure that their views are factored into the OECD's work and hence making the OECD analyses stronger". It does this through
engagement with various agencies including Business and Industry (BIAC) and the Trade Union Advisory Committee (TUAC). It also works with
non–governmental... Show more content on Helpwriting.net ...
The OECD's database of statistical and economic data assists countries in analysing and monitoring their economic, social and environmental policies.
Member countries have access to the expertise, peer review, research and analysis carried out by the organisation. This work could not be carried out
by one country alone. Countries can discuss and identify globally acceptable standards and solutions to common problems. The OECD has a working
relationship with non–member countries and member states benefit from dialog with all countries of the world. Interdependence demands that all
countries of the world play by the rules of the

Essay On Gst
GST India: Effects on Indian Economy
Abstract
The introduction of GST is a single move enveloping all indirect taxes that will make country single unified common market. It is a destination based
multipoint tax system covering in its ambit both goods and services. It is single tax on the supply of goods or service, right from the manufacturer to
the consumer where credits of GST input taxes paid at each stage shall be available in the subsequent stages of value addition, thus, makes GST
essentially a tax only on the value addition at each stage.1 Hence, the final consumer will bear only the GST charged by the last dealer in the value
chain along with set off benefits at all the previous stages. All other indirect taxes will be abolished... Show more content on Helpwriting.net ...
Central Excise Duty
2.Additional Excise Duty
3.Service Tax
4.Countervailing duty
5.Special Additional Duty of Customs1.Subsuming of State Value Added Tax
/ Sale Tax
2.Entertainment Tax( other than levied by the local bodies), Central Sales Tax( levied by the Centre and collected by the states)
3.Octroi and Entry Tax
4.Purchase Tax
5.Luxury Tax
6.Taxes on lottery, betting and gambling
It has been long pending discussion to abolish various types of indirect taxes and implement a single taxation system. This system is called as GST.
The main expectation from this system is to terminate all indirect taxes and only GST would be levied both on goods and services.
Types of GST Returns
There are many returns under the ambit of GST. The most common used returns will be GSTR1, GSTR2, GSTR3, GSTR4 and GSTR9.
ReturnPurposeFrequencyDue Date
GSTR1Outward sales by businessMonthly10th of next month

GSTR2Purchases made by businessMonthly15th of next month
GSTR3GST monthly return along with payment of amount of taxMonthly20th of next month
GSTR4Quarterly return of taxQuarterly18th of next quarter
GSTR5Periodic return by Non–Resident foreign taxpayerMonthly20th of next month
GSTR6Return for Input Service DistributorMonthly15th of next month
GSTR7GST return for TDSMonthly10th of next month
GSTR8GST return for economic suppliers

The Taxation Of South Africa
(Alternative version to first line "Just as an egg will vary from hen to hen, so do tax systems from country to country.")
As there are no two eggs that are identical, tax systems vary from country to country. Each country has its own rules and principles to levy taxes from
its citizens and foreigners to whom it conducts business in order to support its operations. South Africa is no different. When a country's own people
conduct business, or foreigners invest or trade within its domestic jurisdiction, it is necessary for the tax system to balance carefully its domestic and
international economic objectives. It is essential to understand how the taxation system is applied to residents and non–residents in order to maximize
one's own ... Show more content on Helpwriting.net ...
Income is taxed in the country where that income originates, irrespective of the legal or physical residence of the recipient. Even though South Africa
Adopted the residence based system in 2011, many states will still tax the income derived by a person from commercial activities undertaken in their
states. A source–based system of tax imposes a taxation liability on income arising within a specific jurisdiction or territory.
From the Appellate Division of Kerguelen Sealing & Whaling Co., Ltd v CIR ЛЎ, the fundamental logic of a residence based tax system has been
contrasted to that of a source based system in the following: "In some countries residence (or domicile) is made the test of liability for the reason,
presumably, that residents, for the privilege and protection of residence, can justly be called upon to contribute towards the cost of good order and
government of the country that shelters him. In others (as in ours) the principle of liability adopted is 'source of income': again, presumably, the equity
of the levy rests on the assumption that a country that produces wealth by reason of its natural resources or the activities of its inhabitants is entitled to
a share of that wealth, wherever the recipients of it may be live. In both systems there is, of course, the assumption that the country adopting the one or
the other has effective means to enforce the levy."
For tax purposes, it is important to know how

Apple 's Strategies For Global Tax Minimization
APPLE'S STRATEGIES FOR GLOBAL TAX MINIMIZATION
Intercompany transactions could occur across national borders, it would lead MNC companies to get more exposure to the differences of the tax
regulations between countries. This might lead MNC companies to set up their objective to minimize their taxes through the use of discretionary
transfer prices. These issues are attracted the attention of the member of the U.S. senate, foreign governments and international organization such as the
OECD, G20 and European Union (EU).
Apple Inc. is one of the companies implementing tax minimization strategies to lower taxes. Apple received a lot of criticism from various parties
(media, governments, and international organizations). It is because the estimation of tax savings from the company are very high as its worldwide
earnings are so high. Apple set up new companies in tax havens country and shifts the profit to those companies. This article will give an explanation on
how Apple Inc. lower its taxes through international tax minimization strategies.
Apple profits is not generated from physical goods but from royalties of intellectual property like patent. It is similar to other giant technology
companies such as Google, Yahoo, Microsoft, Amazon, and Hewlett
–Packard. It allows them to move their profits very easy to their subsidiaries in the
lower tax jurisdiction, since their products are downloadable and can be sold from anywhere around the world. They don't need a physical store or

As Assessment of Financial Management in International...
Abstract.
Paper discussed how operating of financial management in different nations impacts investment decisions with multinational enterprise. Paper
describes financial options available to the foreign subsidiary of the multiple enterprises and shows how money management in international business
can be used to minimize cash balances, and taxation and introduce us to basic methods of money management.
This project is focusing on financial management in the international business, discussing three sets financial decisions such as:
Investing decisions, decisions about what activities to finance.
Financing decisions, decisions about how to finance those activities.
Money management decisions, decisions about how to manage firm ... Show more content on Helpwriting.net ...
For example Japan relates on debt ratio them more U.S. firms. One of the explanations for different financial structures is a different tax regime. For
example, if interest income were taxes at higher rate, a preference for debt financing over equity financing would be expected. However, according to
the empirical research, country differences in financial structure do not seem related to any systematic to country difference in tax structure. Another
explanation is that these country differences may reflect cultural norms, cultural influences not yet been explained.
Principle behind global money management is that that firms must use the firm's cash recourses in the most efficient way and work on minimization
cash balances and reducing transactional costs.
Firms must hold certain cash balances that will cover payments of accounts payables and expected demand on cash. The rest of the cash assets are
usually reinvested on in money markets accounts and firms earn interest on them. However, firms must have flexible accounts so it can withdraw all
cash freely. Such accounts usually have low interest rates and if it doesn't, firm can suffers from financial penalties. That is the dilemma many firms
are facing and that is why firms are minimizing cash balances, so it can earn interest in high rated market account.
Another way to reduce costs of doing business internationally is to reduce transaction costs. Transaction cost is the cost of exchange, it is

The Problem Of Taxation Of International Businesses
The problem of taxation of international businesses was noticed in the 1920s. It was noted that interaction of domestic tax system of two different
countries can result in double taxation and in such way negatively affect growth of global economy. International laws were introduced in order to
avoid double taxation and support global economy. However nowadays in a much more globalized economy, such international rules create
opportunities to minimize or avoid paying taxes in both of the countries the business is established. The states that decided to provide such
opportunities are now known as " tax havens"
Today, Member of States (MS) and the European Union have put great efforts towards increasing the transparency of financial dealings... Show more
content on Helpwriting.net ...
The main difficulty for the policy enforcement agents is that financial havens employ strict financial secrecy that is hard to overcome, plus some MS
are also engaged in the harmful practices and thus do not support some of the initiatives. Due to these struggles all the EU agreements regarding tax
havens are considered to be rather symbolic in nature. (T. V. Addison, 2008 p.704)
Accordingly the main aim of this study is to evaluate the adequacy of the European initiatives on fighting tax havens, money laundering and bank
secrecy, and the impact of these attacks on the EU own financial state. This aim will be achieved through explaining the nature of tax havens and
analysing the coherence of the past/current and proposed policies introduced by the EU and other international bodies like Organisation for Economic
Co–operation and Development (OECD). The research will seek to explain the main struggles that the EU is facing in enforcing policies through
collection action problem. Answering these questions should help to construct a remedy recommendations regarding what kind of enforcement powers
can be implemented to make the policies compliant.
The Research Problem:
This essay will briefly explain the most recent policies proposed by the EU and the OECD .All these policies have one thing in common: increase
transparency of the financial records and exchange of information between tax authorities. Thus putting all the MS on an equal

The Base Erosion And Profit Shifting Action Plan
Introduction
As a summer intern in PricewaterhouseCoopers international tax group, OECD's new tax project, Base Erosion and Profit Shifting (BEPS), has been
a hot topic in our group as well as the company for a long time, since the completion of all actions will take place very soon at the end of year 2015.
Our international team deals with lots of international corporations which typically have subsidiaries in multiple countries and different elections for
different tax purposes. Because majority of the countries in client's family trees are participating countries in OECD's BEPS project, a close attention
need to be raised on the issues, impacts and solutions from the Base Erosion and Profit Shifting Action Plan. Therefore, in this issue and solution
paper, I will primarily focus on my researches of issues and solutions related to the discussions about the Base Erosion and Profit Shifting action plan,
including its background, why the project is important, the goal of the project, how does it affect tax rules, how does it affect companies, challenges
for companies, threat to privacy, solutions/how to prepare, and finally the conclusion of OECD's BEPS project.
Background
Organization for Economic Co–operation and Development, known as OECD, is an international economic organization participated by 34 countries,
targeting to stimulate world trade and international economic progress. According to its mission statement, OECD is a combination of nations
classifying themselves

International Trade Has Dramatically Increased...
International trade has significantly increased with the globalisation of the world economy. The rapid growth in the world economy and the
modernisation of the economy has led significant cross border exchange of goods, services and capital. Between 2000 and 2014, the export of
goods and services exports grew by an annual average of 7.09% while imports of goods and services grew by an annual average of 7.21%. This
growth is higher than the average GDP growth over the same time which averaged 3.99% annually. In Kenya, exports and imports grew by an annual
average of 4.49% and 8.26% respectively between 2000 and 2014. This compares unfavourably with the annual average GDP growth rate of 4.39%
over the same time . A significant proportion of international trade comprises of trade between affiliates of multinational enterprises (MNE). For
instance in the United States of America (USA) intra–firm cross border trade between 2005 and 2014 ranged between 39.8% to 42.3% of the total
value of cross border trade in goods with a low of 39.8% being recorded in 2008 and a high of 42.3% being recorded in 2014. The value of intra–firm
trade for USA import from Africa constituted 31.9% of the total value of imports from Africa by the USA in 2014 while intra
–firm export by the USA
to Africa accounted for 15.6% of the total exports from the USA to Africa in 2014 . Data on intra–firm trade from African countries to other regions of
the world is rare. It can be inferred that the proportion of

The Relationship Between Taxation And Technological...
Introduction
"Profits should be taxed where economic activities deriving the profits are performed and where value is created"1. The relationship between taxation
and technological developments have always been dynamic and complex. The internet represents the greatest technological revolution since the
industrial revolution. Data show that there is approximately $xxx billion trade occurring through e–commerce, with xxx billion internet users and xx
billion domain names as of 20142 and this number keeps changing every second. This paper takes a look at the current tax issues relating to
e–commerce and profit shifting and also the new OECD framework aimed at addressing these challenges.
Tax Issues
Governments and tax authorities face the same problems whilst trying to tax digital or online businesses: "what is the appropriate nexus that permits
the application of tax jurisdiction over cross–border sales?"
Concerns have been expressed that e–commerce could result in base erosion and profit shifting [BEPS]. Consumption taxes are levied on the principle
of taxation at the place of consumption and according to rates set in individual country or state. E–commerce, however, has the potential to undermine
the application of domestic and national tax rules. Tax planning for an e–business differs from tax planning for a traditional bricks and mortar company.
In the past, generation of income depended on the physical presence of assets and activities. This physical presence, permanent

Piercing the Veil in Taxation Matters
Piercing the veil is one of the most discussed and litigated doctrines in all of corporate law. A company has a corporate personality distinct from its
members. From the juristic point of view, it is a legal person distinct from its members. This is the principal laid down in Salomon v. Salomon &
co. ltd., (1897) A.C. 22].The courts did this to in relation to a one person member company. The principal is commonly referred as "veil of
incorporation" The courts were bound by these principals but they realised exceptions to the rule. This happened due to human inventiveness which
started using the veil of corporate personality deliberately for fraud and improper conduct. The courts started to lift the fictional veil between the
company... Show more content on Helpwriting.net ...
These categories are probably not exhaustive. Under Indian Law,The Companies Act 1956 itself provides provisions for the lifting of corporate
veil.These generally are exceptions for the companies to be regarded as a separate legal entity. The concept of limited liability ceases to exist and
the individual members/directors will be made liable for certain transactions. The statutory provisions are as follows: 1. Reduction of membership
below statutory minimum (Section 45): This section provides that if the number of member of a company is reduced below 7 in the case of public
company or below 2 in the case of private company and the company continues to carry on the business for more than 6 months, while the number is
so reduced, every person who knows this fact and is a member of the company is severally liable for the debts of the company contracted during that
time. 2. Improper use of name (Section 147): Under sub–section (4) of this section, an officer of a company who signs any bill of exchange, hundi,
promissory note, cheque wherein the name of the company is not mentioned in the prescribed manner, such officer can be held personally liable to the
holder of the bill of exchange, hundi

Essay about Quattroporte Inc.
Quattroporte Inc.
PLG#2: Ireland, Guernsey, Malta
Sandra Hamilton
Abdullah Hanna
Jatin Kot
Presented to Professor
Geoff Reid
EMBA 602
University of Fredericton
February 24th, 2013
Contents Executive Summary3 The Business Model3 National profiles Political and Policy Direction 4
Guernsey.......................................................................................4
Malta...........................................................................................6
Ireland..........................................................................................7
Globalization & Comparative Advantage7 Primary Factors Most Influencing Profitability7 Corporate taxation7 Productivity and Availability of
Human Resources8 Currency exchange rates9 Consumer Taxation – VAT9 Capital GainsTax Policy9 Banking10 Foreign Direct Investment10
Intellectual ... Show more content on Helpwriting.net ...
When establishing a subsidiary in this locale, Quattroporte, will need to consider offering higher wages and benefits in order to attract talent from
existing local companies.
As a British protectorate, without having to contribute tax revenue to the United Kingdom, Guernsey enjoys the national security, political stability and
the advanced financial systems offered by the UK Crown. Figures released as recently as January 30th 2013 from Guernsey Finance state that
"Guernsey remains the domicile of incorporation for more non–UK entities listed on the London Stock Exchange (LSE) than any other jurisdiction
globally"; meaning that Guernsey continues to provide a gateway to accessing capital from around the world.
This convenient state of affairs is not without its challenges. To date, non– EU member Guernsey has resisted pressure from the EU to establish a level
playing field with the EU members and set a corporate tax rate of 10%. However, it is important to note that the pro–forma calculations confirm that
even if Guernsey were to adopt a 10% levy on corporate taxation, Guernsey would still remain the most profitable location for Quattroporte compared

to Malta and Ireland.
Malta
Malta is an independent island nation located south of Italy in the Mediterranean Sea, a member of the European Union, and utilizes the Euro as its
national currency. Malta's strengths as a tax–haven for corporate entities rely in the low rates of corporate taxation and a

How Namibia Is A Multi Party System Of Government Essay
Namibia fiscal regimes Fiscal Analysis
Mabel Nwokolo
2016
1. INTRODUCTION
Namibia is found in the southern region of Africa. Initially ignored by international petroleum companies. However, in recent times has been called as
one of the last frontiers of oil and gas exploration.
Namibia is a democratic state that has a multi–party system of government.
The executive, judiciary and legislative powers comprises of Namibia system of government.
The Namibian oil and gas industry is supervised and monitored by the legislative.
Find below the list of Namibia regulatory Law:
Petroleum (Exploration and Production) Act, 1991 (Act 2 of 1991);
Petroleum Taxation Act, 1991 (Act 3 of 1991);
Petroleum Laws Amendment Act, 1998 (Act 24 of 1998); and the
Model Petroleum Agreement (MPA), 2007
Namibia has a total population of 2.3million (from 2015 census record), Land area of about 823290km2, with Gross domestic product (GDP) of
13.11Billion USD (2015) and GDP per Capita of 5693.13USD.
The figure below shows the Map of Namibia, its location in Africa and acreage states.
NAMCOR OVERVIEW
NAMCOR – Established under the Petroleum Act known as Exploration and Production Act of 1991. As an SOE of the ministry of Mines and Energy,
they are allowed to participate across the value chain.

NAMCOR duties include:
Vehicle for participation in the petroleum industry on behalf of the GRN
Technical Advisory Services to the Ministry

Taxation of British Virgin Islands
Taxation of British Virgin Islands ( BVI)
As one of the largest part reputable tax havens in the Caribbean the BVI has very elevated standards. BVI tax havens encompass no taxes in place for
BVI offshore companies who do no commerce in the jurisdiction. International business companies will disburse zero taxes on the profits, interests,
dividends and other types of incomes earned exterior of the jurisdiction. For this motive the BVI can be regarded as a unadulterated offshore tax haven.
BVI offshore corporations shell out no corporate tax, capital gains tax, estate tax, withholding tax and income tax. The merely money that an offshore
company pays in the BVI is an annual fee which is salaried to the significant supervision authorities.
BVI as a tax refuge imposes no taxes on offshore bank account which makes the British Virgin Islands an ideal jurisdiction to set up offshore bank
accounts. Offshore bank accounts advantage from the tax free surroundings in the British Virgin Islands. The incomes and capital in offshore bank
accounts are not taxed in the BVI.
In the offshore tax haven of the British Virgin Islands an offshore business corporation can be incorporated using just one shareholder and director. The
director can be another BVI corporation. The financial statements and audits of the British Virgin Islands offshore corporation are private. These
financial statements of these companies are not to be filed with the government authorities in the British Virgin Islands.

Application Writing At The Law School
NOTE: As discussed Professor, large portions of this paper have been written in connection with a paper I am currently writing at the law school.
Should you have any questions (or would like to see that paper, once it is completed), let me know.
Word Count: 2939
They have been termed "corporate deserters" by President Obama, while members of the media and public have been considerably harsher. The rhetoric
surrounding multi–nationals has recently polarized, in part because of their use of Offshore Financial Centres (OFC's). OFC's allow corporations to
both shift assets to low tax jurisdictions through the use of transfer pricing and reinvest foreign revenues abroad to avoid repatriation tax. Such
activities have been criticized as ... Show more content on Helpwriting.net ...
While there are many facets to international taxation, recent research has looked to the use of OFC's as a conduit for Foreign Direct Investment (FDI),
likely in response to the increasing cross–border flow of FDI. This paper steps away from the moral and political rhetoric surrounding this debate, and
looks to the economic effects of OFC's on the parties involved. More particularly, this paper begins by briefly discussing why low–tax jurisdictions
and multi–national corporations engage in this behavior. After demonstrating the generally positive benefits of outward FDI, this paper analyzes the
contentious effects of using OFC's as a conduit for outward FDI. In lieu of a weak patriotic cheer, this paper focuses primarily on the benefits that
OFC's may hold for Canada. I conclude that the reasonable use of transparent OFC's increases the competitiveness of Canadian corporations, leading
to more Canadian jobs, capital creation and domestic tax revenue. Furthermore, increased dialogue with OFC's can result in legal, social and financial
innovations in Canada. Lastly, this increased dialogue would be an ideal role for the federal government, as described during our class discussions. In
light of this conclusion, I advocate for increased dialogue between Canada and OFC's.
What is an OFC?
This paper would be remiss if it did not begin with a

Multinational Corporations Vs. Small And Medium...
The fundamental goal of every company is to maximise profit – to make money. That is the main reason people create businesses whether it be the
large corporations or the small and medium enterprises (SMEs). Because of gloablisation, firms are competing in a highly competitive market where
there is increasing pressure to find ways to perform better – to get that above average returns. However, there is one thing other than economies of
scale that greatly disadvantage the SMEs from the large multinational corporations (MNCs) and that is profit shifting. First of all, MNCs are
organisations that operate in more than one country. Profit shifting is when MNCs utilise the differences intax laws to "shift income to low–tax
affiliates and ... Show more content on Helpwriting.net ...
In a journal article by Bartelsman and Beetsma (2000), they looked at the presence of profit shifting in response to the disparity of the corporate tax
rates among several OECD countries. They used sectoral data as a method for their analysis. They have found that the magniture of profit shifting is
sufficiently great and worthy of attention. They estimate that a one percent unilateral increase in tax rate will result in a three percent decline in
corporate tax revenues, where the organisation's profit is unchanged. Moreover, the researchers found that having stricter enforcement in an already
high–tax jurisdiction will have a negative impact on their tax revenues and that real activity is transferred to countries with lower tax rates or more
lenient enforcement.
As mentioned previously, increasing pressures of competition and the goal of making more profits are the reasons why organisations try to find ways
to minimise their costs. However, profit shifting is done because they saw the substantial disparity of corporate tax rates among countries and thus, an
opportunity to minimise costs (Bartelsman & Beetsma, 2000; Holtzblatt et al., 2015). Exhibit 1 shows the corporate tax rates in developed countries
(see Appendix). Australia's corporate tax rate is 30%, which is the 4th highest (tied with Mexico) among OECD countries, where it is topped by the
US at 35%, France at 34.43%, and Belgium at 33%. Holtzblatt et

Transfer Pricing
Transfer Pricing in Developing Countries An Introduction
Topics
1. Abstract 2. International tax law & its sources 3. Brief history of International Tax Law 4. Who gets the pie? 5. Arm 's length principle : Cornerstone
of International Tax Law 6. Transfer pricing methods 7. Problems with of sourcetaxation of MNE 's 8. Internet & e–commerce : Achilles heel of current
International taxation regime? 9. Formulary Apportionment (FA) 10. Existing uses of Formulary Apportionment systems in the world 11. Developing
countries & Formulary Apportionment 12. Critique of Formulary Apportionment 13. Transfer pricing and Formulary Apportionment : One continuum
14. Conclusion 15. Acknowledgements 16. References
Section 1 Abstract The aim of ... Show more content on Helpwriting.net ...
Initially, the League of Nations appointed 4 eminent economists (Prof. Bruins of Netherlands, Prof. Einaudi of Italy, Prof. Seligman of the USA,
Prof.Stamp of UK) to conduct a theoretical study of international double taxation. Their expert report published in 1923[6] was used as the basis of
the 1928 models[7] which in turn find their pattern repeated in many of the Treaties of today. 3.b) 1935 Model convention[8] The 1935 Model
Convention defined the term "business income" and was the first model treaty to contain specific provision on allocation of profit from one company
to an associated company. Though the 1935 convention was never formally adopted it was of great significance because of the issues it dealt with. The
1935 draft adopted the principle of income attributable to a permanent establishment based on separate accounting. Interestingly, it provided two more
methods – a) empirical method (percentage of turnover for example) b) fractional apportionment under which net business income was determined
by various factors. Further, the 1935 model provided for all items of income other than those allocable to specific sources to be grouped together as
"business income" and rendered taxable on a net basis. The 1935 draft was mainly based on the "Carroll Report" [9] which was compiled based on
Carroll 's visit to 27 countries to extensively study their tax systems. Carroll

Advantages Of Mutual Agreement Procedure
INDEX
1. The mutual agreement procedure
1.1. The rise of the mutual agreement procedure
1.2. The weaknesses of the competent authority procedure
2. Proposals for arbitration
2.1. Lindencrona and Mattsson's proposal for an arbitral procedure
2.2. Carl S. Shoup's proposal
2.3. The ICC – all for arbitration
2.4. The OECD – 'an unacceptable surrender of fiscal sovereignty'
3. Current use of arbitration
3.1. The draft German–Swedish Income Tax Treaty
3.2. The USA–Germany Treaty
3.3. The Arbitration Convention
This chapter reviews the historical development of different methods of international tax dispute resolution, looking at the workings of the mutual
agreement procedure, its strengths and weaknesses, and at the reasons for the infiltration or for the lack of it of arbitration as a more conclusive and
effective method of dispute resolution.
1. The mutual agreement procedure
1.1. The rise of the mutual agreement procedure

1.1.1. League of Nations Model DTC
Between the First and the Second World Wars, a number of... Show more content on Helpwriting.net ...
Thus, rules for a mutual agreement procedure started appearing in DTCs, authorising the competent authorities to enter negotiations with the aim of
obtaining agreement to solve individual cases in which the intentions of the convention had not been fulfilled.[7] As this method developed further,
conventions started laying down special rules governing the conduct of the negotiations between the competent authorities and before long, the mutual
agreement procedure had crystallised in the foremost method of solving disputes arising from the implementation and interpretation of the DTCs, so
much so that it was adopted by the OECD Draft DTC on Income and on Capital adopted by the Council in 1963.[8] Nonetheless the mandates of the
convention were limited as they only contemplated the appointment of commissions to serve as consultative bodies for each particular dispute and
stopped short of providing them with any adjudicative

Taxation in India
Taxation in India
The Indian Tax Structure is quite elaborate, with clear distinction in authority between Central, State and local governments. The taxes levied by the
Central government are on income (other than tax on agriculture income which would be levied by the state government), customs duties, central
excise and service tax. The State government levies Value Added Tax(VAT), sales tax in states where VAT is not applied, stamp duty, state excise,
land revenue and tax on professions. Local bodies levy tax on property, octroi and for utilities like water supply, drainage etc. In the last 10 to 15
years, tax system in India has been subjected to significant reforms. The tax rates have been revised and tax laws have been modified. ... Show more
content on Helpwriting.net ...
Direct taxes are charged on the basis of residential status and not on the basis of citizenship. The assessee are charged based upon the following factors
Resident Resident but not ordinary resident. Nonresident.
Direct Taxes Before Reform They had a major impact on economic policies, creation of savings and the trend of investment. There was no proportion
in terms of the impact of direct taxes on the economy and there relative share in total tax revenues. The system of direct taxes was very much complex
and inefficient because of the combination of high marginal rates of personal income and wealth taxation and high rates of corporate profits. The
corporate tax was pretty high. It leads to large scale evasion. Members Of Parliament and Central Government Ministers get comparatively low salaries,
but they are given a sitting allowance which is not taxable. Ministers, MP's and other high ranking government officials get government allocated
accommodation, where the charges are pretty less in comparison to the prevailing market rate. Growth in Direct Tax collection during the Financial
Year 2008–09 Net direct tax collection during the fiscal 2008–09 stands at Rs.338, 212 crore, up from Rs.312, 202 crore during 2007–08, registering a
growth of 8.33 percent. Growth in Corporate Taxes was 10.84 per cent, while Personal Income Tax (including FBT, STT and BCTT) grew at 9.09%.
Despite economic slow–down and substantial relief to noncorporate

Essay Lower Corporate Tax
A Case for lower Corporate Tax
Submitted by Student –201204997 on 11th of march 2013
Executive Summary
Policy Makers in the United Kingdom may as well take notice and acknowledge that lower corporate tax can give essential profits to business
competiveness without fundamentally hurting the medium–term budget viewpoint.
Several countries lately have reduced or plan to reduce their corporate tax rates in order to stimulate investment, create jobs and promote faster
economic growth. This includes the Ireland where the rate of Corporation Tax has been kept at 12%.Recently published report of Northern Ireland (NI)
Economic Strategy, identified lowering of corporate tax as the single measure that might have the most ... Show more content on Helpwriting.net ...
Studies by Economist Lee and Gordon(2004) found viewed the connection between corporate tax rates and economic growth for 70 nations over a
27–year period they discovered that statutory corporate charge rates are fundamentally adversely related with cross–sectional distinctions in normal
economic development rates and that reducing the corporate duty rate by 10 percent can deliver a additional growth rate of 1.1%
Studies such as these provide strong evidence that lower corporate taxes do lead to long term economic growth and by having high rates we retard the
nation growth potential.
Competiveness
The Canadian legislature has set an unequivocal objective of having a lowest corporate tax in the Group of Seven (G7) nations on January 1st,
Canada brought down its corporate tax rate from 18 percent to 16.5 percent. the rate will eventually decrease to 15 percent. The Japanese
administration also affirmed corporate tax deduction by 5 percent with a specific end goal to increase local investment and create jobs through
improving Japanese firms worldwide competiveness and improving business environment. Lee and Gordon (2004) argue that the elevated sticker value
of the nation high corporate charge rate not just makes the its economy less competitive all around, but also it makes its business organizations less
aggressive competitive they argue lower corporate tax rates

An Investigation On Apples Tax Practices
Therefore, after immense speculation the EU opened an investigation on Apples tax practices in Ireland. After an extensive investigation the EU
issued a ruling that Apple must pay the Irish government up to 13 million Euros in back corporate taxes. Apple is appealing the EU ruling indicting
that they did not violate any laws and should not be forced to pay back taxes. However the most startling aspect of the case is that Ireland is actually
siding with Apple and going against the EU. On the flip side when you look at the intricacies of the situation Irish government is showing solidarity
with Apple because it is well aware of the benefits of having Apple conducting business in Ireland. The Irish government knows that if Apple is forced
to pay back taxes that they will conduct significantly less business in Ireland which would hurt the Irish economy in the long run.
Pfizer/Allergan Merger Pfizer is one of the largest pharmaceutical corporations in the world and is the manufacture of many popular drugs including
Advil. On the other hand Allergan is a smaller pharmaceutical corporation based in Ireland known for making Botox. So, in late October 2015
Pfizer was on the verge of acquiring fellow pharmaceutical company Allergan in a $160 billion dollar deal. Pfizer was intrigued about acquiring
Allergan because the deal would have allowed Pfizer to relocate its headquarters from New York City to Ireland and in turn benefit from their corporate
tax rate lower tax

Gst in India
International Conference on Law, Humanities and Management (ICLHM'2012) July 15–16, 2012 Singapore
Goods and Services Tax– A Roadmap for India
Sarkar Subhrangshu Sekhar
Over the years, tax policy in the country has evolved in response to the development strategy and its changes. In the initial years, the tax policy was
directed to increase the level of savings, transfer available savings for investment as envisaged by plan strategy and the need to ensure a fair
distribution of incomes, to correct inequalities arising from the oligopolistic market structure created by the co–existence of private and public sector
and the existence of other instruments of planning such as licensing system, exchange control, administered price ... Show more content on
Helpwriting.net ...
This shift to GST is expected to significantly improve buoyancy from indirect taxes, owing to the opportunity it provides for further convergence and
moderation of rates and a substantial expansion in the base which would extend beyond manufacturing all the way to retail. Reforming the tax system
is important for achieving fiscal consolidation, creating instability in the economy and minimizing distortions in the economy. The wave of tax
reforms across the world began in the mid 1980s and speeded up in the 1990s due to a number of factors. In many developing countries, tax policy was
directed to correct fiscal imbalances. In others, the transition from centralized planning to market required wide ranging tax reforms to replace public
enterprise profits with taxes as the principal source of revenue. An important reason, however, was internationalization of economic activities. The
sharp reduction in tariffs accompanying globalization required that an appropriate source of revenue to replace this had to be found. On the other,
globalization emphasized the need to minimize both efficiency and compliance costs of the tax system.
A
Sarkar Subhrangshu Sekhar is working as Professor at Department of Business Administration, Tezpur University, Assam, India– 784 028. (Email:
subh16@gmail.com)
International Conference on Law,

Tax Implications of E-Commerce in Nigeria
ABSTRACT
This paper examines the Tax Implications of E–Commerce. The issue of e–commerce and its tax implications continues to receive a high level of
attention because of the fast growth of e–commerce activities. In the emerging global economy, e–commerce has increasingly become a necessary
component of business strategy and a strong catalyst for economic development. The integration of information and communications technology (ICT)
in business has revolutionized relationships within organizations and those between and among organizations and individuals. Specifically, the use of
ICT in business has enhanced productivity, encouraged greater customer participation, and enabled mass customization, besides reducing costs. Even
before the ... Show more content on Helpwriting.net ...
Countries might differ over where the presence of a facility, the location of customers, the passage of title or a number of other factors determines
where the income arises. E–Commerce facilitates cross–border transactions and as a mechanism has particular relevance to international taxation.
Consequently according to Li, Jinyan(2003) while e–commerce might not introduce any new problems, it is apparent that any problem already
associated with an inability to synchronize or inter–relate a variety of disparate taxing systems became exacerbated by a model that facilitates the very
types of transactions that result in such problems in the first instance.
A fundamental change in existing tax rules does not appear to be requisite. However internet and e–commerce has increased the need for efficient and
equitable tax treatments of firms operating in multiple tax jurisdictions. Current procedure used by most countries to allocate the tax base between
jurisdictions and to avoid double taxation through a network of more than 1,500 bilateral double taxation treaties, is not only cumbersome, but will
also come under increasing pressure as the scope and volume of cross border activities expand sharply. This is because the double taxation treaties are
based on the assumption of national sovereignty in tax policy, which will become less relevant as globalization progresses. Most discussions with
respect to

Tobacco and alcohol consumption has been linked to a...
Tobacco and alcohol consumption has been linked to a variety of medical problems. "In the United States alone, over 440,000 people die annually
from smoking tobacco" (Tobacco Products.) By making the cost of unhealthy behavior prohibitive, we hope to produce a healthier society. Sin tax is
used for taxes on activities that are considered socially undesirable. Common targets of sumptuary taxes are alcohol and tobacco, and gambling. I
believe that Drinking and smoking are not sins, but if the effects of using them in excess have caused other Americans to pay more for medical care, I
think we should impose higher taxes on them as to discourage their use. In moderation, tobacco and alcohol have few ill effects, but when overused
they hurt... Show more content on Helpwriting.net ...
Percentage–wise, wine buyers would be affected the most, with a 233 percent tax increase per bottle. The higher alcohol taxes would bring in nearly
$60 billion over 10 years, and, like the increase in price of cigarettes, could deter people from purchasing alcohol as often." (Promises Treatment
Centers.) It is uncommon to feel oppressed when one's surroundings does not protect his health against unhealthy habits. Such a scenario is seen when
people smoke in closed public areas which results in health consequences for others. The same is observed with regards to alcohol where incidences of
physical harassment and accidents have been acknowledged. It is unethical and greedy for one to think about himself and his rights, forgetting his
duties towards others in the society. For those who claim that this is a free country and people have the right to do whatever they want, the government
interferes and prohibits these actions when these actions negatively affects others. Raising sin taxes on tobacco and alcohol will result in three different
problems such as business's disagreements and objections toward governmental taxation, unaffordability for the poor, and the increase of the
unemployment rate. Earlier in history year 1789, the taxes were imposed on whisky producers rather than on people buying them. The federal
government faced difficulties enforcing such a rule. George Washington took notice of such a resistance to the whisky

Taxation International Comparison Assignment : Taxation
Taxation International Comparison Assignment
One of the major purposes of taxation is to redistribute income. The government aims to collect from earning of residents and distribute it to those
who are incapable for supporting their families. The main benefits offered to families in New Zealand, with Children less than 18 years of age, are
the working for families' tax credit and parental leave. These tax credits provide income tested benefits to families with children at home who are
under 18. There are different criteria put in place to check the eligibility of the individuals receiving the credit. The idea of family tax credit is to ensure
that every child in New Zealand is bought up in stable environment where they feel safe and healthy. All payments are made to an eligible parent to
help with the family 's day–to–day living costs. According to statistics New Zealand "1 in 4 children under the age of 18 live in households defined
as medium or high risk, or those with more than 3 risk factors". (Statistics New Zealand, 2012) These risk factors include low economic standard of
living, poor housing problems, over crowded houses and limited access to facilities. For this reason, it is duty of the government to ensure that, every
child in this country has access to a decent standard of living. This includes access to food, healthcare and education.
This report will be looking into detail on Family tax credit policies in New Zealand in comparison with that of Australia and

Goods And Service Of India
Goods and Service Tax– A Positive Reform in Indian
Taxation System
Dr.Rashi Gupta
Assistant Professor
JIMS Engineering Management Technical Campus (JEMTEC), Greater Noida
Guru Gobind Singh Indraprastha University, Delhi
E–mail: rashigupta.ap@gmail.com
ABSTRACT
This paper is an attempt to understand the concept of Goods and Service Tax (GST), to be implemented in India from 1st July 2017. This changing face
of Indian taxation system paves the path of development and advancement towards which developing country like India is trying to move on.It is the
biggest and substantial indirect tax reform since 1947. The main is to replace existing taxes like value–added tax, excise duty, service tax and sales tax.
It will be levied on manufacture ... Show more content on Helpwriting.net ...
In India also dual system of GST is proposed including CGST and SGST. It is a domestic trade tax that will be levied in the form of avalue added tax
on all goods and services –in practice with some exemptions. A value added tax exempts all inputs including capital goods. Hence, it becomes a
general tax on domestic consumption. It is a convenient and economically efficient way of taxing consumption.It is a comprehensive tax regime levied
on manufacture, sales and consumption of goods and services. It is expected to bring about 2% incremental GDP growth of the country.
The Value Added Tax (VAT) when introduced was considered to be a major improvement over the pre
–existing Central excise duty at the national level
and the sales tax system at the State level. Now the Goods and Services Tax (GST) will be a further significant breakthrough – the next logical step –
towards a comprehensive indirect tax reform in the country. Despite the success with VAT, there are still certain shortcomings in the structure of
VAT both at the Central and at the State level. The shortcoming in CENVAT of theGovernment of India lies in non
–inclusion of several Central taxes in
the overallframework of CENVAT, such as additional customs duty, surcharges, etc., and thuskeeping the benefits of comprehensive input tax and
service tax set–off out of reach formanufacturers/dealers. Moreover, no step has yet been taken to capture the valueaddedchain in the

Emergence Of A Global Trading Arena
Introduction
Emergence of revolution in the world led to globalization. Hitherto, people gain from massive and healthy business trade across the borders (Lucas,
367). In this case, one country is able to gain from selling or buying of goods. Moreover, countries realized the importance of creating a global
trading arena to encourage the produces from all economies through integration. In this regard, people enjoyed from some exemptions that interfered
with flow of goods and service across borders. Despite the vast advantage that parties enjoy in this kind of trade, they face various hurdles, which
demoralize them as they perform their business transactions. For instance, changes in the economic status in one of the countries result in reduction in
value of goods. Likewise, some traders may suffer due to high rates of taxation in the bordering countries.
collection through purchasing and selling of goods. One party may therefore set policies that aim at in increasing tax collection (Lucas 369; & Ballard
and Lee 720). Besides, an understanding cultivates from their works that the government may also balance the availability of

Advantages And Disadvantages Of Tax Haven
A Tax Haven is defined as, a place that seeks to attract business by offering politically stable facilities to help people or entities get around the rules,
laws and regulations of jurisdictions elsewhere .
Tax havens also refer to countries which have a system of financial secrecy in place. It should be noted that, financial secrecy can be used by foreign
individuals to circumvent certain taxes (such as inheritance tax on money, and income tax of the interest on the money you have on your bank account.
Because the requirement of paying taxes on these funds can not be transmitted, as the funds themselves are invisible to the country the individual is
from, such taxes can be avoided. Earnings from income generated from real estate (i.e. by renting ... Show more content on Helpwriting.net ...
FACT: According to data compiled by the State Department, the CIA, the IRS, and the Financial Action Task Force, low
–tax jurisdictions are less
likely to engage in money laundering. This is likely due to the fact that revelations of illicit activity would be very damaging to the reputation of small
economies, so there is a much greater incentive to weed out wrong–doing. Moreover, criminals tend to avoid taking stolen money offshore because
cross–border transactions raise red flags and create paper trails .
п‚§Tax havens encourage tax evasion.
FACT: Excessive tax burdens in welfare states such as France encourage tax evasion. This leads to capital flight to places such as Hong Kong,
Switzerland, the United States, and the Cayman Islands. If French politicians do not like capital flight, they should lower France's oppressive tax rates.
Moreover, tax havens play a key role in protecting people victimized by crime, corruption, and ethnic or religious persecution precisely by shielding
them from venal governments .
п‚§High–tax jurisdictions are unable to compete with tax havens and therefore have little choice but to push for protectionist policies in order to retain
entrepreneurial talent and

Corporate Tax Rate
Corporate Taxation: Reducing the Canadian Corporate Rate
Altering the rate of corporate taxation is a vital tool for federal monetary policy when adjusting to the constantly changing local and global economy.
The global recession of 2008 has illuminated the political and economic significance of changing the rate of corporate tax in Canada, and has held its
effects under great scrutiny. Those that argue for a greater tax burden be placed on the wealthiest businesses demand government intervention,
reasoning that increasing tax revenue can decrease the federal deficit and re–allocate money to vital lesser income groups and communities. The
opposition contends that the tax revenue gained will ultimately be lost in under–performing ... Show more content on Helpwriting.net ...
Domestically, corporate taxes are a significant expense to businesses, so much so that corporations pour massive resources toward acquiring the
knowledge to take advantage of not only their local tax system, but also international ones, in order to preserve as much capital as possible. As
businesses attempt to attain wealth, they mobilize towards lower–tax jurisdictions. Organizational planning is also affected, as uneven taxes on
different types of business entities lead companies like Enron to form network webs of varying entities (Luna, LeAnn, and Murray 2008). Resource
allocation to operating tax loopholes and allowances may be considered uneconomic, but is crucial for business survival. Domestic corporate tax rates
are also inherently political; as each party has differing mandates towards tax revenue generation and allocation. Governments now must consider tax
policy one of the major pieces to their platform. In Canada, the Conservative Party of Canada has stressed the importance of the corporate tax rate as
a vital cog in maintaining the health of the economy. Over the last 4 years, the Conservative Party has decreased the net corporate tax rate by 2.5%
with intention to lower it further to 15% effective January 1, 2012 (Canada Revenue Agency 2011).
The Liberal Party and the New Democratic Party (NDP) advocate a Keynesian–welfare

Tax Evasion And Tax Taxation
"Nothing is certain but death and taxes." Taxes are an important element of a developed society, where people concern about them, grumble about them,
and even attempt to stay away from them by different means. Not only individuals, companies and firms also adopt different strategies to avoid paying
taxes, these include tax avoidance and tax evasion. Tax avoidance is generally defined as a more 'legal' means with the taxpayer lowering his/her tax
liability by making use of the loopholes and vagueness of the tax policies to reduce the amount of tax paid in different areas, whereas tax evasion
refers to purposely understate his/her taxable amount in order to lower his/her tax liability (Jain, 1987). Tax evasion is therefore strictly against ... Show
more content on Helpwriting.net ...
In the second section, the essay will then evaluate which taxes are more vulnerable to tax avoidance and tax evasion. The paper will suggest some
particular tax bases that can be continued to use whereas the tax bases that should not be used or should be refined. In the last section, the paper
concludes by concentrating on recommending different methods to tackle the problem of tax avoidance and tax evasion.
To start with, people have exploited the freedom to build complex business structures to take advantage of the loopholes in tax rules. Tax Justice
Network (TJN), an independent international network launched in 2003 that aims to arouse attention and discuss issues related to tax and financial
globalization, have been constantly stressed the need for different countries to adopt adequate methods of corporate transparency for tax administration
purposes, for example, business ownerships registration, a popular type of tax avoidance (Corporate Reform Collective, 2014). Areas of authority
such as the British Virgin Islands are renowned for forming offshore companies to avoid paying business taxes. Tax evasion creates social problems as
well. If taxpayers successfully evade their tax payments, the hidden income eventually becomes their own wealth. As mentioned before, tax evaders are
an important element of the black market

Cross Border Shopping Of Federal Economy
Cross–Border shopping in Federal Economy
Introduction
Emergence of revolution in the world led to globalization. Hitherto, people gain from massive and healthy business trade across the borders (Lucas,
367). In this case, one country is able to gain from selling or buying of goods. Moreover, countries realized the importance of creating a global
trading arena to encourage the produces from all economies through integration. In this regard, people enjoyed from some exemptions that interfered
with flow of goods and service across borders. Despite the vast advantage that parties enjoy in this kind of trade, they face various hurdles, which
demoralize them as they perform their business transactions. For instance, changes in the economic status in one of the countries result in reduction in
value of goods. Likewise, some traders may suffer due to high rates of taxation in the bordering countries.
collection through purchasing and selling of goods. One party may therefore set policies that aim at in increasing tax collection (Lucas 369; & Ballard
and Lee 720). Besides, an understanding cultivates from their works that the government

Should The Us Use A Zero Personal Income Tax?
Introduction
This paper intends to address the question – "should the US converts to a zero personal income tax?" – by doing a comparative analysis between the
United States of America (US) and a zero tax country somewhere in the world. Based on the research conducted, it was discovered that there are ten
countries that operates a zero personal income tax system. Of these ten countries, Qatar (a country located in the Middle East) was chosen randomly
for this analysis. It should be noted that the economies of these two countries are vastly different in terms of gross domestic products (GDP), revenue
and spending. However, the focus of the paper is on Qatar's strategies in operating its economy in the absence of personal income tax. And decipher
whether the US can garner any useful data that will be instrumental in transforming its tax system, with the goal of abolishing personal income tax.
Qatar
This oil rich country is vibrant and economically strong. According to Roy Sudip of Euromoney, Qatar has the world's third biggest gas reserves,
equivalent to more than 300 years–worth of stock at both current and forecast production rates, as well as significant oil reserves (https:
web–b–ebscohost.com). Furthermore, its GDP is $212 billion and GDP per capita ranked 5th in the world. Qatar has one of the highest standard of
living and economic productivity. Its annual growth rate has averaged just over 19 percent in 2006 – 11, driven by the country's growing liquefied
natural gas

Uk Tax System Essay
A tax system is simply the collection of taxes in an economy. It is a sum of money paid by people or businesses to a government, to be used for
public purposes. Taxes are raised through various means and the systems vary for each country. The main taxes in the UK, USA and Australia will be
explained. Countries use the taxes they receive in different ways. Aims and targets of most countries vary, as does the amount oftax generated. Due to
this, expenditure is prioritised and spent accordingly. Government expenditure will therefore also be discussed.
The UK Tax system
In the UK taxes are collected for a variety of reasons. A wide variety of methods are used to raise the different taxes. The UK government uses taxes to
manage ... Show more content on Helpwriting.net ...
The projected revenue for 08/09 is в‚¤83.8billion (the third highest tax revenue source at 15.4%). There are three rates for VAT: 17.5% (standard), 5%
(reduced) and 0% (zero).
Those who have to register for VAT include businesses (including sole traders). Failure to register can lead to heavy sanctions. It is compulsory for
businesses with a taxable turnover of over в‚¤67,000 to register but those who receive less can also do so.
Goods and services liable to VAT are called 'taxable supplies'. Those companies who have a turnover of в‚¤67,000 or more must charge VAT on all
taxable supplies at whichever rate is applicable. "'Supplies' include day–to–day sales as well as other supplies such as the sale of business assets, items
sold to employees and goods you take out of the business for your personal use." (HM Revenue & Customs, 2008)
Lower rated supplies (5%) include fuel, power and children's car seats. Zero rated supplies include some types of food, books and transport). Goods
and services such as insurance, training, loans and some forms of education are exempt from VAT.
Once registered, HMRC are owed the difference between output tax (VAT charged to customers) and input tax (VAT charged by the supplier). If input
tax turns out to be more than output tax, a refund may be received.
Consequences of registering for VAT include:
" – VAT must be submitted to Customs and Excise
–Inspection from Customs and Excise officers

The Issue Of International Taxation Essay
International taxation is one of the most pressing global topics in the world today. Tax regulations was one of the most pressing topics in the recent
United States presidential campaign. The reason that people are so concerned with taxation is because it affects many aspect of society. Taxes affect
how much money employees are able to take home. The government is concerned with taxes because it is hoe it generates revenue to fund
governmental programs. The Mariam Webster dictionary defines atax 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." Therefore, a tax is any contribution levied by a
government for some types of transaction. In addition, taxes are not unique to any particular country. The type of taxes and tax rates that are utilized in
countries may vary. However, every government in the world use taxes as a means of generating revenue in order to fund governmental activities. With
the spread of globalization, countries were able to engage in business transactions with other countries across the globe. Therefore, major corporations
began to conduct more business activities in other countries. As a means of regulating its counter trade and business global regulatory organization
were established. Organizations such as the World Trade Organizations are designed to allow a uniform and fair trade among countries. However, a tax
is

Tax Administration in Nigeria: a Case Study of Federal...
ABSTRACT
Taxation is a dynamic subject which grows with the constant change in the economic environment in which it operates, hence the need to review the
regulating instruments from time to time. Nigeria is governed by a federal system hence its fiscal operations also adhere to the same principle, a fact
which has serious implications on how the tax system is managed. The country's tax system is lopsided, and dominated by oil revenue. It is also
characterized by unnecessarily complex, distortionary and largely inequitable taxation laws that have limited application in the informal sector that
dominates the economy.
The primary objective of this paper is to prepare a case study on tax administration in Nigeria, with the specific ... Show more content on
Helpwriting.net ...
пѓ The Tax Management Act came into being in 1st of April 1961 which amended all other regional tax laws and brought them into conformity with
the federal laws.
пѓ The subsequent Finance/Miscellaneous Taxation Provisions/Decree of 1987 as amended by Decree of 1993 which created the Federal Inland
Revenue Service (FIRS) as an operational arm of Federal Board of Internal Revenue (FBIR) in compliance with the recommendations of the study
group on tax reforms and administration in Nigeria set up in 9th January 1991.
1.3 THE FEDERAL BOARD OF INTERNAL REVENUE
The Federal Board of Internal Revenue (FBIR) is a statutory body established by Section 1 Sub–section 1 of ITMA (Income Tax Management Act)a as
amended by Personal Income tax Decree of 1993as the apex or highest tax authority in Nigeria.
1.4 THE FEDERAL INLAND REVENUE SERVICE
The Nigerian Federal Inland Revenue Service, FIRS, was created in 1943. It was carved from the erstwhile Inland Revenue Department that covered
what was then the Anglo В¬Phone West Africa (including Ghana, Gambia, Sierra Leone) during the colonial era.
Tax provides revenue to fund governance, ensures resource redistribution, streamlines consumption of certain goods and services, reduces inflation and
generates employment.
The Federal Inland Revenue Service is constitutionally empowered to collect taxes.
In 1958, the Board of Inland Revenue was established under the Income Tax Ordinance of

What Is Taxation As An Instrument Of Economic Development...
TAXATION AS AN INSTRUMENT OF ECONOMIC GROWTH AND DEVELOPMENT IN NIGERIA
BY
MOHAMMED NASIR MOHAMMED
08/02AC039
AUG, 2012
CERTIFICATION
This research work has been read and approved as meeting the requirement for the award of Bachelor of Science (Hons.) degree in the Department of
Accounting, College of Management sciences, Al–Hikmah University of Ilorin, Ilorin.
................................. .................
Mr. A.B Uthman DATE
PROJECT SUPERVISOR
.........................................................................
Mr. R.A IyandaDATE
HEAD OF DEPARTMENT (ACCOUNTING)... Show more content on Helpwriting.net ...
79
REFERENCES80
APPENDIX: QUESTINNAIRE.82
ABSTRACT
Taxation is identified as a very important tool for national economic development and growth in most societies. Taxes provide sustainable revenue for
government to carry out its activities. The government's activities help in creating and wealth and employment opportunities in the society, creating an
avenue for citizens to earn income on which taxes are levied. Through this continuous process the circle of growth and development in the country is

sustained.
But in Nigeria there is

India's Tax Structure History and GST Impact

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