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What is deffered taxation?
Deferred tax is an accounting concept, meaning a future tax liability or asset, resulting from temporary differences between book (accounting) value of assets and liabilities and their tax value, or timing differences between the recognition of gains and losses in financial statements and their recognition in a tax computation
What is the difference between direct and indirect taxation?
Direct taxation is when you tax the consumerIndirect is when you tax the merchantbecause the item being taxed would go from merchant>>>consumerthe merchant make his price higher because the consumer doesnt have to pay tax but he does.
What is the purpose of the income tax brackets?
Income tax brackets enable the progressive taxation of income.
What is the difference between tax and taxation?
Tax has a limited meaning. It is the amount of tax levied/collected etc. by the Government. Taxation is the process of tax collection. It covers all of the following: passing of the law by the parliament, making of rules by the Government, entire set of people appointed as tax commissioners, assessment; the appellate authorities & so on. Rashmin Sanghvi
Difference between incidence and impact of taxation?
The impact of a tax refers to the person who pays it to the government in the first instance. The incidence of a tax refers to the money burden of a tax on the person who ultimately pays it. - MP
What is deffered taxation?
Deferred tax is an accounting concept, meaning a future tax liability or asset, resulting from temporary differences between book (accounting) value of assets and liabilities and their tax value, or timing differences between the recognition of gains and losses in financial statements and their recognition in a tax computation
What is the difference between global and territorial system of taxation?
global tax mean there is double taxation, but at territorial there is one tax only
What are the differences between board commission and tax force?
What are the differences between tax force, commission and board.
What is the difference between direct and indirect taxation?
Direct taxation is when you tax the consumerIndirect is when you tax the merchantbecause the item being taxed would go from merchant>>>consumerthe merchant make his price higher because the consumer doesnt have to pay tax but he does.
Which tax leads to double taxation?
corporate tax
What is the purpose of the income tax brackets?
Income tax brackets enable the progressive taxation of income.
What is the difference between tax and taxation?
Tax has a limited meaning. It is the amount of tax levied/collected etc. by the Government. Taxation is the process of tax collection. It covers all of the following: passing of the law by the parliament, making of rules by the Government, entire set of people appointed as tax commissioners, assessment; the appellate authorities & so on. Rashmin Sanghvi
What is a tax cut?
A tax cut is the act of reducing taxation.
What are the key differences in taxation between a partnership and an S corporation?
The key differences in taxation between a partnership and an S corporation are that in a partnership, profits and losses are passed through to the individual partners and taxed at their personal tax rates, while in an S corporation, profits are also passed through to shareholders but losses can only be deducted up to the amount of their investment. Additionally, S corporations are subject to certain restrictions on ownership and can only have up to 100 shareholders.
A law governing taxation is called?
A law governing taxation is called a tax law.
What has the author David W Williams written?
David W. Williams has written: 'Trends in international taxation' -- subject(s): Income tax, Double taxation, Taxation 'Principles of tax law' -- subject(s): Taxation, Law and legislation
What is the differences between VAT and income tax?
VAT is value added tax charge on sale and purchase. Income tax is tax charged on income received.
