What is the general purpose of taxation in our society?

Q: What are the classifications of individual taxpayers?

A: An entity that is required to pay taxes to state, federal or government municipal body is known as a…

Q: What is capital gain taxation?

A: Introduction:- Capital gain tax charged on Profits from the sale of an investment.

Q: How is the theory and the basis for taxation is different?

A: Tax: Tax refers to a compulsory payment or a contribution to the state revenue, levied by the…

Q: what is tax accounting?

A:

Q: What is meant by a tax shelter?

A: Tax shelter is a provision for tax payer to deduct the taxable income. This provision gives certain…

Q: what is the possible tax implication?

A: Corporate tax rate = 25% Allowable deductions = P150,000 for November Allowable deductions =…

Q: What is taxation?

A: Required  What is taxation?

Q: how does taxes affect Businesses?

A: Taxes According to Tax laws Taxes means the levy of money which was imposed by the government…

Q: Can you give me an idea of how taxation is important in our lives?

A: Taxation is the process through which a government imposes a financial restriction or liability on…

Q: What is corporate income tax and value added tax and its use?

A: Both corporate income tax and value added tax are taxes that have to be paid to the government. The…

Q: What is Professional Tax and give examples?

A: A tax is a financial charge imposed by government. It is a source of income for the governments to…

Q: Summarize the different philosophies regarding the distribution of a nation’s tax burden.

A: Taxation refers to a process of imposition of a compulsory levy on any individual or entities by the…

Q: explain what constitute  the variables of tax planning

A: There are mainly four variables upon which tax consequence of all the transactions depended: These…

Q: Which of the following is a local tax? *

A: Option a is wrong because value added tax is an indirect tax imposed on the value of goods and…

Q: similarities between income taxation and business taxation?

A: Income taxation and business taxation are terms used related to taxation.

Q: what are the characteristics of a good tax system?

A: Tax system is designed by the government of every country which is imposed on the individual’s…

Q: What is the appropriate level of taxation?

A: Market efficiency and inefficiency depends on various factors like consumer demand, supply, rate of…

Q: What are the different type of income tax?

A: The answer for the question on the different types of income tax is discussed hereunder : Taxes are…

Q: Explain why administrative and compliance costs of taxation is important regarding taxation? What…

A: Taxable income is the amount of income computed to measure the amount of taxes to be paid to the…

Q: What are the Sources of Tax Laws?

A: Tax: It is a mandatory fee levied by the government on the individual and organization.

Q: What is Barangay Tax and give examples?

A: Tax is referred to as the financial charge imposed on the taxpayer that is levied by the government…

Q: What is Income tax receivables?

A: Other receivables: Other receivables are the receivables other than the accounts receivable, and the…

Q: What is Estate Tax?

A: An estate tax is a financial duty levy on estates whose value surpases an allowed limit set by law.…

Q: How does the disposition effect impact investor tax?

A: Introduction: The disposition effect is coined by economists Hersh Shefrin and Meir Statman in a…

Q: What is the difference between a progressive tax, a proportional tax, and a regressive tax?

A: Tax is an important concept in the area of finance. The United states has three types of taxes…

Q: 1. What is the primary purpose of taxation?

A: Note: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered…

Q: Who are considered “person” or “entities” or “taxpayers” for tax purposes? _____________________

A: The below mention definition of PERSON is as per Income Tax Act . As per income tax act , there are…

Q: What is the resort's net income for tax purposes?

A: Safe haven wildlife resort operate a proprietors-ship that generate $20000 in income under GAAP.…

Q: What is Barangay Tax and its examples?

A: Tax is defined as the financial charge imposed on taxpayers that are levied by the government for…

Q: The government should tax itself? Yes or no

A: A tax is a sum of money that is must be paid to the government in order for it to provide public…

Q: What are taxes?

A:

Q: What are the aspects of Taxation?

A: Taxation Taxation is important for the country which can be generate revenue to the government to…

Q: Distinguish between Tax Exemption and Tax Amnesty?

A:

Q: What is personal income tax and it's use?

A: Income tax is a type of tax that governments impose on income generated by businesses and…

Q: Is the local property tax a regressive tax, or a progressive tax?

A: Progressive Taxes: Taxes that require high income groups to pay a larger percentage of income in…

Q: What are capital gains and losses, and how are they taxed?

A: A capital gain is the amount of profit you receive when you sell a capital asset or is realized when…

Q: What is a State in taxation?

A: State in which you live is important for tax point of view and state in which you work is important…

Q: How does income taxation differs from transfer and business tax?

A: Income tax is a direct tax that governments impose on income generated by individuals and business…

Q: What are the two main principles of taxation

A: Taxation is an important factor for any country because it is one of the main sources of income for…

Q: What are the importance of taxation in your life

A: solution concept Tax is an important source of revenue for the government Government collects the…

Q: Explain the concept of situs of taxation? Give examples

A: Governments in practically every country throughout the world levy forced charges on persons or…

Q: Explain the principles and purpose of taxation.

A: Principles form a basis for running of taxation system while purpose determines the need for…

Q: Describe the Economic Service Life with Tax Considerations?

A: Economic service life is the anticipated time over which the average owner will continue to use an…

Q: What are the special features of regular income taxation?

A: Income Tax It is a tax placed on an individual. It is deducted from a person's total income. It is a…