what are the characteristics of a good tax system?

Q: What is capital gain taxation?

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

Q: Define Effective tax rate.

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

Q: When does tax allocation within a period become necessary?How should this allocation be handled?

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Q: Define tax effect theory

A: Tax effect theory explains the impact of taxes on revenue or expense of a company. This theory is…

Q: what is the possible tax implication?

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

Q: How to calculate capital gain tax

A: Capital gain is one of the income heads under the Income Tax Act. It includes the gains arising to…

Q: What is intraperiod tax allocation?

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Q: What effect does intraperiod tax allocation have onreported net income?

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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 the logic behind allowing tax loss carrybacks/carryforwards?

A: Logic behind allowing tax loss carrybacks and carryforwards: A tax loss carryback permits a company…

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: What is the net tax consequences of these dispositions?

A: The disposition of the assets means sales, exchange, or donation of the assets. The disposition of…

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 is mean by Tax evasion and what reasons the people do this?

A: Tax obligation represents the liability of the taxpayer towards the government for the payment of a…

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 the appropriate level of taxation?

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

Q: Distinguish the difference between Tax Structure and Tax Rates

A: Meaning of Tax Tax is a source of revenue to the Government. Different types of taxes are paid by…

Q: What’s the difference between marginal and average tax rates?

A: The taxes are the government source of income from the general public. The tax rate are the…

Q: What is the difference between tax avoidance and tax evasion?

A: The answer for the theory question on the difference between tax avoidance and tax evasion is…

Q: What is Income tax receivables?

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

Q: What are the determinants of Tax Revenue? Show how you can improve Tax Revenue.

A: Tax revenue is the revenue for the governmental authorities when income earners pay taxes as per the…

Q: what is Tax Avoidance and Tax Evasion?

A: Tax avoidance refers to the use of legal means to avoid paying tax. Individual taxpayers and…

Q: Explain progressive tax

A: Introduction: Tax is nothing but a compulsory fee or financial charge imposed on a person or on…

Q: What is the total tax due?

A: The tax due can be defined as the percentage amount computed over the incomes earned during the…

Q: How can we use Replacement Analysis with Tax Considerations?

A: Using of replacement analysis with tax consideration help the investor in order to select the best…

Q: What are the additional income taxes?

A: Income tax: Income tax is a tax levied on an individual’s income (taxable income). It is a direct…

Q: What is a tax return? brief explain

A: Tax return in a form designed by designated tax authorities which helps taxpayers to disclose their…

Q: How are national taxes similar to and/or different from local taxes?

A: National taxes refer to national internal revenue taxes imposed and collected by the national…

Q: What is the Net Income After Tax?

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Q: Discuss the differences of tax planning and tax management.

A: Tax planning is the process or technique which is used in reduction of tax liability of the business…

Q: Distinguish between Tax Exemption and Tax Amnesty?

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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: Why are tax havens controversial?

A: Tax haven are part of a country where foreign investors have to pay a very low tax rate for certain…

Q: Define intraperiod tax allocation. Why is the process necessary?

A: Intra-period tax allocation:   It is the allocation of an organization’s total income tax expense…

Q: Why every person needs tax planning?

A: Tax planning is something by which an individual or any entity can plan out on how much tax it can…

Q: What is an excise tax and its examples?

A: The company's aim will be to increase the profitability of the company. The profits can be arrived…

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: What is the burden of the tax? Explain the key factors that determine the incidence of the tax.

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Q: What are direct taxes?

A: The financial position of the company can be arrived from the income statement prepared by the…

Q: what is the special consumption tax?

A: Consumption can be briefly defined as the spending by individuals and households on final goods and…

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 is Percentage Tax?

A: Tax:- A tax is the compulsory payment which is imposed by the government on income and capital gain…

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…