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: Kindly explain and give an example of Capital Gains Tax
A: Introduction:- The capital gains tax is a federal tax. It is charged on profit made from selling…
Q: Why is fringe benefit tax important?
A: Fringe benefits are those compensation and benefits provided to the employees which are other than…
Q: The additional tax on top of the standard tax?
A: Tax is a compulsory financial charge levied by government for finding the source of public…
Q: What is the tax shield of interest?
A: Interest tax shields: It alludes to the assessment obligation decrease because of the interest…
Q: sic Re
A: Basic Real Property Tax Property tax is the amount that is paid by the land owner to the municipal…
Q: Why is the Donor's tax is the advantageous for the taxpayer? Explain
A: Donar's tax refers to the tax on a donation or gift. It is imposed on the gratuitous transfer of…
Q: tax-exempt corporations
A: Tax-exempt status is given to the nonprofit corporation in order to exempt them from paying income…
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 Capital Gains Tax and give examples?
A: Income tax: It is the amount a person is liable to pay on the earned amount in an accounting year.…
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: 1. The community tax is a local tax
A: Local tax is a tax assessment by state or the municipality to fund public services, taxes levied by…
Q: HOW TO improve tax-planning effort
A: Tax planning is the examination of a financial condition or plan to make sure that all parts work…
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: What are the principles of a sound tax system? Briefly explain each
A: Introduction:- The tax system is described as a legally controlled system of public relations based…
Q: What is ‘fringe benefit tax’(FBT)? Explain atleast five main salient features of the FBT?
A: Fringe Benefit Tax: It refers to a tax which an employer needs to pay on the value of fringe or…
Q: For income tax purposes, how is affiliated group defined?
A: Tax: It refers to a compulsory charge imposed by the government on all the taxpayers of the…
Q: 1. What is Profession Tax and its examples?
A: Tax is the money to be used by government for the overall development of the nation. Tax may be in…
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: Explain the term tax & its objectives in detail
A: What is Tax ? Tax is A mandatory Payment to be made by the people including Corporate Entities to…
Q: 1. What is Donors Tax and give examples?
A: The Donor's Tax seems to be a tax on a donation or maybe even a gift that is levied on the…
Q: What is the value for IHT and capital gain tax (CGT) purposes?
A: What is Inheritance Tax?Inheritance Tax (IHT) is a tax on the estate of someone who has died,…
Q: Identify three ways that governments can alter their tax system to increase revenues.
A: please like the answer your response matters Taxation is the main source of revenue for government.…
Q: Explain progressive tax
A: Introduction: Tax is nothing but a compulsory fee or financial charge imposed on a person or on…
Q: AT and its examples?
A: A value-added tax (VAT) could be a consumption tax placed on a product whenever price is else at…
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: Explain the Tax Treatment of Personal and Qualified Residences?
A: Tax Treatment of Personal and Qualified Residence: During one taxable, one taxpayer can choose 2…
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: How to calculate Value-added tax
A: Value added tax is a type of tax that is charged by the central government on the sale of…
Q: tax essential for all of us
A: Tax is imposed by government on the income on the citizens if their income exceeds a definite limit.
Q: Which among the type of taxes (national or local) do you think can be reduced, removed, or revised…
A: Taxes are an importance source of revenue for the governments to spend on infrastructure. But at the…
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: Which of the following best reflects the ability-to-pay philosophy of taxation? a tax on…
A: The tax obligation levied on the residential property under capital taxation if the owner detains…
Q: What is Documentary Stamp Tax and give examples?
A: The answer is given below:
Q: What is ‘fringe benefit tax’ (FBT)? Explain at least five main salient features of the FBT?
A: WHAT IS 'FRINGE BENEFIT TAX' (FBT) ? FRINGE BENEFIT TAX IS IS THE TAX LEVIED ON ANY CONSIDERATION…
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: d Tax (VAT
A: Value Added Tax (VAT) is a broad tax that is levied on practically all products and services sold.…
Q: ll be a tax
A: Tax refers to the percentile charges imposed by the authoritative government over the income gained…
Q: The current federal income tax structure is progressive in nature. First, explain what that means.…
A: Current -Federal tax structure- Progressive Federal Income tax structure is progressive in nature…
Q: Basic community tax is an example of while income tax is a kind of O Privilege tax; capitation tax…
A: Basic community tax is an example of Privilege tax while income tax is a kind of Capitation tax.
Q: e Tax and its ex
A: Income tax Taxes levied on the earnings of companies and individuals are referred to as income…
Q: Are progressive taxes the most equitable for all people?
A: Tax structure is based on how income of individual must be taxed. It could be based on certain slab…
Q: What is the general purpose of taxation in our society?
A: Tax is an enforced fee that is charged on individuals and organizations by government or its agency…
Q: Explain the federal estate tax.
A: Federal Estate Tax: A tax on the transfer of property after death is called Estate tax. Federal…
Q: nd its
A: Franchise Tax A franchise tax, also known as a privilege tax, is a tax paid by certain companies…
Q: What is Community Tax and give examples?
A: Tax is an involuntary payment that is levied on the citizens of a nation by the government of the…
Q: Explain what is meant by this statement: “Our tax rates areprogressive.”
A: Tax is the amount levied by the government from the taxpayer on their net taxable income. Net…
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