Essays on Taxation

Taxes are the main source of government revenues: they are the funds that keep the government running. A tax can either be regressive or progressive. A regressive tax is one which taxes rich and poor at similar rates. Progressive taxation, on the other hand, is normally meant for increasing tax liability. The fact that progressive taxation has something to do with inequality of incomes has long been anticipated; however, it is only recently that the relationship between income inequality and ...

The tax should not be legitimized for many reasons. It is illegitimate especially when it is aimed at achieving socially desirable wealth distribution. One of the famous opponents of redistributive tax is Nozick who developed liberty concept about wealth redistribution (OOI 188). He argued that it is illegitimate to redistribute wealth on the basis of social justice. The redistribution of wealth infringes other people's property rights such as disposing of their hard owned properties at their ...

Brazil’s current situation is a direct consequence of its taxation and tariff policies from the late 1990’s and early 2000’s (Figure x), leading to its current rank of 125 (out of X) for doing business and 176 (out of y) for starting a business13. While there has been some progress related to tariffs, there has been no change in the taxation rules, resulting in an unfriendly environment for corporate investment (Figure 1). However, current trade situations might present a rare opportunity for ...

In June 2016, New York City’s Mayor Bill de Blasio signed a bill that would provide free menstrual hygiene products to dispense in prisons, public schools, and homeless shelters. While most states still tax necessary menstrual hygiene products like tampons and pads, multiple states, including New York, have made legislative moves to ban the tax of these products. They include Minnesota, Maryland, Massachusetts, New Jersey, Illinois, New York, and Connecticut. Oregon, Montana, Delaware, New ...

According to Chandra, the gaps in gender wages result in income inequality. The income inequality among minority groups in America causes a decrease in asset ownership (Kochhar and Fry). Besides, the wage gaps result in more significant gaps in the participation of men and women in the labor force. These gaps lead to gender earning inequality, hence creating as well as exacerbating inequality in income. Many women are most likely to work in the informal sectors which pay low wages. The lower ...

Balance of payment is a factual proclamation that systematically condenses, for a particular time period, the monetary exchanges of an economy with the rest of the world (Rehman & Rashid). The best significance of balance of payment lies as a pointer of changing universal financial position of a nation. The balance of payment is the financial gauge which can be utilized to assess a country's brief universal monetary prospects, to assess the level of its global stability, and to decide the ...

Launched at midnight of June 30th, 2017, the Indian Government has proposed to substitute the present tax system Value Added Tax (VAT) and Excise with Goods and Service Tax (GST).Under this new system, there would be common tax for all goods or services availed respectively. With the change in the tax structure in India companies will have to change their supply chain strategy in order to minimize their tax or fiscal cost. With the introduction GST, all taxes might become creditable, whereas ...

The national debt impacts every citizen in America and the idea of it is a huge elephant in the room for every politician and taxpayer. The national debt has just recently hit 23 trillion dollars and is increasing at every second of every day. With no signs of slowing down or stopping it and with unbelievably massive debt, there is but one question, what are we going to do about this. Evidently, steps need to be taken by the United States to pay off this deficit. It is less clear on how to do ...

Tax compliance as behaviour of taxpayers is not influenced only by economic and legislative factors but also other factors such as tax education, personal, social or society norms – according to the classification made by Kirchler (2007), tax morality other times called tax ethics (there is no clear distinction between the two concepts) connected with religiosity. Multiple studies treating the issue of the presence or absence of tax morality as an influence factor of certain attitudes or ...

There are multiple avenues to achieve success, not just one specific way or method. The definition you have for success and it also varies by what how you measure your definition of success. It could mean you have abundant amounts of assets, multiple degrees, or just content with being alive. Many things that as humans we cannot alter or change no matter how rich we are or educated. In time, everyone ages and a burden that nobody wants is to be a senior citizen and still going to work to pay ...

You and your friends are playing the game of who can build the most houses in a set amount of time. The rules are simple: Everyone starts out with the same amount of given money. With that given money you can buy supplies to build a house. However, imagine if one of your friends starts out with more money or supplies than the rest of you. Who do you think will have the easier time winning? Normally, all of the players will start out with the same amount of given money and supplies to take away ...

It all started with a Facebook post by Union Minister Arun Jaitley on 27th July 2018 where he termed the pre-GST indirect tax regime, during which most of the household items attracted a levy of 31%, as “Congress Legacy Tax”. Further, he added that the past one year has seen the rate reduction in 384 commodities. Union Minister exuded confidence that GST rates on various goods such as ACs, cement and television will be cut as tax revenues increase, and only luxury and sin goods will attract ...

There is a tremendous shift in U.S.-Canadian cross-border tax affairs, owing to the recent enactment of the U.S. tax reform - the initial wave having come into effect on January 1, 2018. This move represented a complete renovation of the taxation system. One of the changes that had far-reaching implications was the Tax Cuts and Jobs Act (TCJA) - an initiative that drastically reshaped decades-old conventions. As with the enactment of most landmark legislations, this one comes with its fair ...

Introduction Authorities legislate many tax provisions such as investment tax credit and accelerated depreciation deductions in order to increase capital investment by businesses. Over the years many researchers tried to understand how these tax provisions influence different firms’ investment. The answer to this question is important mainly because it helps policy makers to take appropriate measures and design properly targeted fiscal policies to promote growth. One of tax incentives used ...

Ethics is not a rule or law that can be set down in stone, it is more of a way of life. It is values in which a person or persons abide by when distinguishing what is right from what they deem to be wrong (Unethical). Ethics are values that mature with a person and are developed through personal growth. These personal principles can be applied in business were ethics are used during business conducts. Whether or no Accountants are being unethical with their aggressive approach to help their ...