Emergence of a Global Trading Arena

Emergence Of A Global Trading Arena
Introduction
Emergence of revolution in the world led to globalization. Hitherto, people gain from massive and
healthy business trade across the borders (Lucas, 367). In this case, one country is able to gain from
selling or buying of goods. Moreover, countries realized the importance of creating a global trading
arena to encourage the produces from all economies through integration. In this regard, people
enjoyed from some exemptions that interfered with flow of goods and service across borders.
Despite the vast advantage that parties enjoy in this kind of trade, they face various hurdles, which
demoralize them as they perform their business transactions. For instance, changes in the economic
status in one of the countries result in reduction in value of goods. Likewise, some traders may
suffer due to high rates of taxation in the bordering countries.
Understanding the concept of cross border shopping
The presence of competition in the indirect tax within the export and import zones leads to the
creation of horizontal tax externalities. Vertical tax externalities may also arise between the central
and regional government. In most of the cases, both countries tend to maximize revenue through tax
collection through purchasing and selling of goods. One party may therefore set policies that aim at
in increasing tax collection (Lucas 369; & Ballard and Lee 720). Besides, an understanding
cultivates from their works that the government may also balance the availability of
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Piercing the Veil in Taxation Matters
Piercing the veil is one of the most discussed and litigated doctrines in all of corporate law. A
company has a corporate personality distinct from its members. From the juristic point of view, it is
a legal person distinct from its members. This is the principal laid down in Salomon v. Salomon
& co. ltd., (1897) A.C. 22].The courts did this to in relation to a one person member company.
The principal is commonly referred as "veil of incorporation" The courts were bound by these
principals but they realised exceptions to the rule. This happened due to human inventiveness which
started using the veil of corporate personality deliberately for fraud and improper conduct. The
courts started to lift the fictional veil between the company ... Show more content on
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These categories are probably not exhaustive. Under Indian Law,The Companies Act 1956 itself
provides provisions for the lifting of corporate veil.These generally are exceptions for the companies
to be regarded as a separate legal entity. The concept of limited liability ceases to exist and the
individual members/directors will be made liable for certain transactions. The statutory provisions
are as follows: 1. Reduction of membership below statutory minimum (Section 45): This section
provides that if the number of member of a company is reduced below 7 in the case of public
company or below 2 in the case of private company and the company continues to carry on the
business for more than 6 months, while the number is so reduced, every person who knows this fact
and is a member of the company is severally liable for the debts of the company contracted during
that time. 2. Improper use of name (Section 147): Under sub–section (4) of this section, an officer of
a company who signs any bill of exchange, hundi, promissory note, cheque wherein the name of the
company is not mentioned in the prescribed manner, such officer can be held personally liable to the
holder of the bill of exchange, hundi

Taxation in India
Taxation in India
The Indian Tax Structure is quite elaborate, with clear distinction in authority between Central, State
and local governments. The taxes levied by the Central government are on income (other than tax on
agriculture income which would be levied by the state government), customs duties, central excise
and service tax. The State government levies Value Added Tax (VAT), sales tax in states where VAT
is not applied, stamp duty, state excise, land revenue and tax on professions. Local bodies levy tax
on property, octroi and for utilities like water supply, drainage etc. In the last 10 to 15 years, tax
system in India has been subjected to significant reforms. The tax rates have been revised and tax
laws have been modified. ... Show more content on Helpwriting.net ...
Direct taxes are charged on the basis of residential status and not on the basis of citizenship. The
assessee are charged based upon the following factors
Resident Resident but not ordinary resident. Nonresident.
Direct Taxes Before Reform They had a major impact on economic policies, creation of savings and
the trend of investment. There was no proportion in terms of the impact of direct taxes on the
economy and there relative share in total tax revenues. The system of direct taxes was very much
complex and inefficient because of the combination of high marginal rates of personal income and
wealth taxation and high rates of corporate profits. The corporate tax was pretty high. It leads to
large scale evasion. Members Of Parliament and Central Government Ministers get comparatively
low salaries, but they are given a sitting allowance which is not taxable. Ministers, MP's and other
high ranking government officials get government allocated accommodation, where the charges are
pretty less in comparison to the prevailing market rate. Growth in Direct Tax collection during the
Financial Year 2008–09 Net direct tax collection during the fiscal 2008–09 stands at Rs.338, 212
crore, up from Rs.312, 202 crore during 2007–08, registering a growth of 8.33 percent. Growth in
Corporate Taxes was 10.84 per cent, while Personal Income Tax (including FBT, STT and BCTT)
grew at 9.09%. Despite economic slow–down and substantial relief to noncorporate

The Problem Of Taxation Of International Businesses
The problem of taxation of international businesses was noticed in the 1920s. It was noted that
interaction of domestic tax system of two different countries can result in double taxation and in
such way negatively affect growth of global economy. International laws were introduced in order to
avoid double taxation and support global economy. However nowadays in a much more globalized
economy, such international rules create opportunities to minimize or avoid paying taxes in both of
the countries the business is established. The states that decided to provide such opportunities are
now known as " tax havens"
Today, Member of States (MS) and the European Union have put great efforts towards increasing
the transparency of financial dealings ... Show more content on Helpwriting.net ...
The main difficulty for the policy enforcement agents is that financial havens employ strict financial
secrecy that is hard to overcome, plus some MS are also engaged in the harmful practices and thus
do not support some of the initiatives. Due to these struggles all the EU agreements regarding tax
havens are considered to be rather symbolic in nature. (T. V. Addison, 2008 p.704)
Accordingly the main aim of this study is to evaluate the adequacy of the European initiatives on
fighting tax havens, money laundering and bank secrecy, and the impact of these attacks on the EU
own financial state. This aim will be achieved through explaining the nature of tax havens and
analysing the coherence of the past/current and proposed policies introduced by the EU and other
international bodies like Organisation for Economic Co–operation and Development (OECD). The
research will seek to explain the main struggles that the EU is facing in enforcing policies through
collection action problem. Answering these questions should help to construct a remedy
recommendations regarding what kind of enforcement powers can be implemented to make the
policies compliant.
The Research Problem:
This essay will briefly explain the most recent policies proposed by the EU and the OECD .All these
policies have one thing in common: increase transparency of the financial records and exchange of
information between tax authorities. Thus putting all the MS on an equal

Tax Administration in Nigeria: a Case Study of Federal...
ABSTRACT
Taxation is a dynamic subject which grows with the constant change in the economic environment
in which it operates, hence the need to review the regulating instruments from time to time. Nigeria
is governed by a federal system hence its fiscal operations also adhere to the same principle, a fact
which has serious implications on how the tax system is managed. The country's tax system is
lopsided, and dominated by oil revenue. It is also characterized by unnecessarily complex,
distortionary and largely inequitable taxation laws that have limited application in the informal
sector that dominates the economy.
The primary objective of this paper is to prepare a case study on tax administration in Nigeria, with
the specific ... Show more content on Helpwriting.net ...
 The Tax Management Act came into being in 1st of April 1961 which amended all other regional
tax laws and brought them into conformity with the federal laws.
 The subsequent Finance/Miscellaneous Taxation Provisions/Decree of 1987 as amended by
Decree of 1993 which created the Federal Inland Revenue Service (FIRS) as an operational arm of
Federal Board of Internal Revenue (FBIR) in compliance with the recommendations of the study
group on tax reforms and administration in Nigeria set up in 9th January 1991.
1.3 THE FEDERAL BOARD OF INTERNAL REVENUE
The Federal Board of Internal Revenue (FBIR) is a statutory body established by Section 1 Sub–
section 1 of ITMA (Income Tax Management Act)a as amended by Personal Income tax Decree of
1993as the apex or highest tax authority in Nigeria.
1.4 THE FEDERAL INLAND REVENUE SERVICE
The Nigerian Federal Inland Revenue Service, FIRS, was created in 1943. It was carved from the
erstwhile Inland Revenue Department that covered what was then the Anglo ¬Phone West Africa
(including Ghana, Gambia, Sierra Leone) during the colonial era.
Tax provides revenue to fund governance, ensures resource redistribution, streamlines consumption
of certain goods and services, reduces inflation and generates employment.
The Federal Inland Revenue Service is constitutionally empowered to collect taxes.
In 1958, the Board of Inland Revenue was established under the Income Tax Ordinance of

Essay On Tax Structure Of India
History of tax structure in India
Direct Taxes:
These are taxes which are directly taken from the citizen of a country and are deducted from their
incomes.
Thus, the tax is paid by the person who bears the economic burden of the income generated.
Examples: Income Tax and Corporate Tax. Indirect Taxes:
These are taxes paid by the intermediaries on behalf of the final consumer who bears the ultimate
economic burden of the tax. These were collected by both the central and state governments. The
central government collects variety of taxes such as:
1. Excise Tax (collected on the production and manufacturing of goods)
2. Service Tax (collected on services provided)
3. Customs (collected on international trade)
The state government ... Show more content on Helpwriting.net ...
This led to quite a few shortcomings, such as:
1. Cascading Effect (Tax on Tax)
2. Tax Evasion
3. Corruption All this led to lesser tax collection, as expected by the government, and also an
increase in the price level. Hence the government of India launched GST (GOODS AND SERVICE
TAX ). Introduction of GST in taxation system GST (Goods and Service Tax) also known as giant
indirect tax structure formed to support the economic growth of any country. More than 150
countries have implemented GST in their taxation system. The idea of GST in india was rooted by
Vajpayee govt in 2000 and the amendment was passed for same by the loksabha on 6th May 2015
but was yet to be passed in rajyasabha. What is GST? Goods and Service Tax (GST) is a tax applied
on manufacture, sale and consumption of goods and services at a national level. It will be an
uniform indirect tax and applied uniformly on all goods and services. By introducing GST into
practice there would be amalgamation of central and state taxes into single tax payement. However,
exports and direct tax like income tax, corporate tax and capital gain tax will not be affected by
GST. It was basically introduced to overcome the problems of the earlier taxation system. Major
benefit of introducing GST is its nature of it being indifferent to goods and services as the tax is
levied at each stage of the supply chain. Also, all sectors will be taxed with very few exemptions

Tobacco and alcohol consumption has been linked to a...
Tobacco and alcohol consumption has been linked to a variety of medical problems. "In the United
States alone, over 440,000 people die annually from smoking tobacco" (Tobacco Products.) By
making the cost of unhealthy behavior prohibitive, we hope to produce a healthier society. Sin tax is
used for taxes on activities that are considered socially undesirable. Common targets of sumptuary
taxes are alcohol and tobacco, and gambling. I believe that Drinking and smoking are not sins, but if
the effects of using them in excess have caused other Americans to pay more for medical care, I
think we should impose higher taxes on them as to discourage their use. In moderation, tobacco and
alcohol have few ill effects, but when overused they hurt ... Show more content on Helpwriting.net
...
Percentage–wise, wine buyers would be affected the most, with a 233 percent tax increase per
bottle. The higher alcohol taxes would bring in nearly $60 billion over 10 years, and, like the
increase in price of cigarettes, could deter people from purchasing alcohol as often." (Promises
Treatment Centers.) It is uncommon to feel oppressed when one's surroundings does not protect his
health against unhealthy habits. Such a scenario is seen when people smoke in closed public areas
which results in health consequences for others. The same is observed with regards to alcohol where
incidences of physical harassment and accidents have been acknowledged. It is unethical and greedy
for one to think about himself and his rights, forgetting his duties towards others in the society. For
those who claim that this is a free country and people have the right to do whatever they want, the
government interferes and prohibits these actions when these actions negatively affects others.
Raising sin taxes on tobacco and alcohol will result in three different problems such as business's
disagreements and objections toward governmental taxation, unaffordability for the poor, and the
increase of the unemployment rate. Earlier in history year 1789, the taxes were imposed on whisky
producers rather than on people buying them. The federal government faced difficulties enforcing
such a rule. George Washington took notice of such a resistance to the whisky

Essay Lower Corporate Tax
A Case for lower Corporate Tax
Submitted by Student –201204997 on 11th of march 2013
Executive Summary
Policy Makers in the United Kingdom may as well take notice and acknowledge that lower
corporate tax can give essential profits to business competiveness without fundamentally hurting the
medium–term budget viewpoint.
Several countries lately have reduced or plan to reduce their corporate tax rates in order to stimulate
investment, create jobs and promote faster economic growth. This includes the Ireland where the
rate of Corporation Tax has been kept at 12%.Recently published report of Northern Ireland (NI)
Economic Strategy, identified lowering of corporate tax as the single measure that might have the
most ... Show more content on Helpwriting.net ...
Studies by Economist Lee and Gordon(2004) found viewed the connection between corporate tax
rates and economic growth for 70 nations over a 27–year period they discovered that statutory
corporate charge rates are fundamentally adversely related with cross–sectional distinctions in
normal economic development rates and that reducing the corporate duty rate by 10 percent can
deliver a additional growth rate of 1.1%
Studies such as these provide strong evidence that lower corporate taxes do lead to long term
economic growth and by having high rates we retard the nation growth potential.
Competiveness
The Canadian legislature has set an unequivocal objective of having a lowest corporate tax in the
Group of Seven (G7) nations on January 1st, Canada brought down its corporate tax rate from 18
percent to 16.5 percent. the rate will eventually decrease to 15 percent. The Japanese administration
also affirmed corporate tax deduction by 5 percent with a specific end goal to increase local
investment and create jobs through improving Japanese firms worldwide competiveness and
improving business environment. Lee and Gordon (2004) argue that the elevated sticker value of the
nation high corporate charge rate not just makes the its economy less competitive all around, but
also it makes its business organizations less aggressive competitive they argue lower corporate tax
rates

Essay about Quattroporte Inc.
Quattroporte Inc.
PLG#2: Ireland, Guernsey, Malta
Sandra Hamilton
Abdullah Hanna
Jatin Kot
Presented to Professor
Geoff Reid
EMBA 602
University of Fredericton
February 24th, 2013
Contents Executive Summary 3 The Business Model 3 National profiles Political and Policy
Direction 4
Guernsey.......................................................................................4
Malta...........................................................................................6
Ireland..........................................................................................7
Globalization & Comparative Advantage 7 Primary Factors Most Influencing Profitability 7
Corporate taxation 7 Productivity and Availability of Human Resources 8 Currency exchange rates 9
Consumer Taxation – VAT 9 Capital Gains Tax Policy 9 Banking 10 Foreign Direct Investment 10
Intellectual ... Show more content on Helpwriting.net ...
When establishing a subsidiary in this locale, Quattroporte, will need to consider offering higher
wages and benefits in order to attract talent from existing local companies.
As a British protectorate, without having to contribute tax revenue to the United Kingdom,
Guernsey enjoys the national security, political stability and the advanced financial systems offered
by the UK Crown. Figures released as recently as January 30th 2013 from Guernsey Finance state
that "Guernsey remains the domicile of incorporation for more non–UK entities listed on the
London Stock Exchange (LSE) than any other jurisdiction globally"; meaning that Guernsey
continues to provide a gateway to accessing capital from around the world.
This convenient state of affairs is not without its challenges. To date, non– EU member Guernsey
has resisted pressure from the EU to establish a level playing field with the EU members and set a
corporate tax rate of 10%. However, it is important to note that the pro–forma calculations confirm
that even if Guernsey were to adopt a 10% levy on corporate taxation, Guernsey would still remain
the most profitable location for Quattroporte compared to Malta and Ireland.
Malta
Malta is an independent island nation located south of Italy in the Mediterranean Sea, a member of

the European Union, and utilizes the Euro as its national currency. Malta's strengths as a tax–haven
for corporate entities rely in the low rates of corporate taxation and a

Taxation of British Virgin Islands
Taxation of British Virgin Islands ( BVI)
As one of the largest part reputable tax havens in the Caribbean the BVI has very elevated standards.
BVI tax havens encompass no taxes in place for BVI offshore companies who do no commerce in
the jurisdiction. International business companies will disburse zero taxes on the profits, interests,
dividends and other types of incomes earned exterior of the jurisdiction. For this motive the BVI can
be regarded as a unadulterated offshore tax haven. BVI offshore corporations shell out no corporate
tax, capital gains tax, estate tax, withholding tax and income tax. The merely money that an offshore
company pays in the BVI is an annual fee which is salaried to the significant supervision authorities.
BVI as a tax refuge imposes no taxes on offshore bank account which makes the British Virgin
Islands an ideal jurisdiction to set up offshore bank accounts. Offshore bank accounts advantage
from the tax free surroundings in the British Virgin Islands. The incomes and capital in offshore
bank accounts are not taxed in the BVI.
In the offshore tax haven of the British Virgin Islands an offshore business corporation can be
incorporated using just one shareholder and director. The director can be another BVI corporation.
The financial statements and audits of the British Virgin Islands offshore corporation are private.
These financial statements of these companies are not to be filed with the government authorities in
the British Virgin Islands.

Gst in India
International Conference on Law, Humanities and Management (ICLHM'2012) July 15–16, 2012
Singapore
Goods and Services Tax – A Roadmap for India
Sarkar Subhrangshu Sekhar
Over the years, tax policy in the country has evolved in response to the development strategy and its
changes. In the initial years, the tax policy was directed to increase the level of savings, transfer
available savings for investment as envisaged by plan strategy and the need to ensure a fair
distribution of incomes, to correct inequalities arising from the oligopolistic market structure created
by the co–existence of private and public sector and the existence of other instruments of planning
such as licensing system, exchange control, administered price ... Show more content on
Helpwriting.net ...
This shift to GST is expected to significantly improve buoyancy from indirect taxes, owing to the
opportunity it provides for further convergence and moderation of rates and a substantial expansion
in the base which would extend beyond manufacturing all the way to retail. Reforming the tax
system is important for achieving fiscal consolidation, creating instability in the economy and
minimizing distortions in the economy. The wave of tax reforms across the world began in the mid
1980s and speeded up in the 1990s due to a number of factors. In many developing countries, tax
policy was directed to correct fiscal imbalances. In others, the transition from centralized planning
to market required wide ranging tax reforms to replace public enterprise profits with taxes as the
principal source of revenue. An important reason, however, was internationalization of economic
activities. The sharp reduction in tariffs accompanying globalization required that an appropriate
source of revenue to replace this had to be found. On the other, globalization emphasized the need to
minimize both efficiency and compliance costs of the tax system.
A
Sarkar Subhrangshu Sekhar is working as Professor at Department of Business Administration,
Tezpur University, Assam, India – 784 028. (Email: subh16@gmail.com)
International Conference on Law,

As Assessment of Financial Management in International...
Abstract.
Paper discussed how operating of financial management in different nations impacts investment
decisions with multinational enterprise. Paper describes financial options available to the foreign
subsidiary of the multiple enterprises and shows how money management in international business
can be used to minimize cash balances, and taxation and introduce us to basic methods of money
management.
This project is focusing on financial management in the international business, discussing three sets
financial decisions such as:
Investing decisions, decisions about what activities to finance.
Financing decisions, decisions about how to finance those activities.
Money management decisions, decisions about how to manage firm ... Show more content on
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For example Japan relates on debt ratio them more U.S. firms. One of the explanations for different
financial structures is a different tax regime. For example, if interest income were taxes at higher
rate, a preference for debt financing over equity financing would be expected. However, according
to the empirical research, country differences in financial structure do not seem related to any
systematic to country difference in tax structure. Another explanation is that these country
differences may reflect cultural norms, cultural influences not yet been explained.
Principle behind global money management is that that firms must use the firm's cash recourses in
the most efficient way and work on minimization cash balances and reducing transactional costs.
Firms must hold certain cash balances that will cover payments of accounts payables and expected
demand on cash. The rest of the cash assets are usually reinvested on in money markets accounts
and firms earn interest on them. However, firms must have flexible accounts so it can withdraw all
cash freely. Such accounts usually have low interest rates and if it doesn't, firm can suffers from
financial penalties. That is the dilemma many firms are facing and that is why firms are minimizing
cash balances, so it can earn interest in high rated market account.
Another way to reduce costs of doing business internationally is to reduce transaction costs.
Transaction cost is the cost of exchange, it is

The Relationship Between Taxation And Technological...
Introduction
"Profits should be taxed where economic activities deriving the profits are performed and where
value is created"1. The relationship between taxation and technological developments have always
been dynamic and complex. The internet represents the greatest technological revolution since the
industrial revolution. Data show that there is approximately $xxx billion trade occurring through e–
commerce, with xxx billion internet users and xx billion domain names as of 20142 and this number
keeps changing every second. This paper takes a look at the current tax issues relating to e–
commerce and profit shifting and also the new OECD framework aimed at addressing these
challenges.
Tax Issues
Governments and tax authorities face the same problems whilst trying to tax digital or online
businesses: "what is the appropriate nexus that permits the application of tax jurisdiction over cross–
border sales?"
Concerns have been expressed that e–commerce could result in base erosion and profit shifting
[BEPS]. Consumption taxes are levied on the principle of taxation at the place of consumption and
according to rates set in individual country or state. E–commerce, however, has the potential to
undermine the application of domestic and national tax rules. Tax planning for an e–business differs
from tax planning for a traditional bricks and mortar company. In the past, generation of income
depended on the physical presence of assets and activities. This physical presence, permanent

Introduction Of The Cross Border Shopping
Cross–Border Shopping
Introduction
Emergence of revolution in the world led to globalization. Hitherto, people gain from the massive
and healthy business trades across the borders. In this case, one country is able to gain from selling
or buying of goods. At some point, countries realized the importance of creating a global trading
arena to encourage the producers from all nations. In this regard, people enjoyed from some
exemptions that interfered with flow of goods and service across borders. Despite the vast advantage
that parties enjoy in this kind of trade, they face various hurdles, which demoralize them as they
perform their business transactions. For instance, changes in the economic status in one of the
countries result in reduction in value of goods. Likewise, some traders may suffer due to high rates
of taxation in the bordering countries.
in increasing tax collection (Lucas 369). Likewise, the government may also balance the availability
of imports in the country by employing certain regulations that minimizes their

Corporate Tax Rate
Corporate Taxation: Reducing the Canadian Corporate Rate
Altering the rate of corporate taxation is a vital tool for federal monetary policy when adjusting to
the constantly changing local and global economy. The global recession of 2008 has illuminated the
political and economic significance of changing the rate of corporate tax in Canada, and has held its
effects under great scrutiny. Those that argue for a greater tax burden be placed on the wealthiest
businesses demand government intervention, reasoning that increasing tax revenue can decrease the
federal deficit and re–allocate money to vital lesser income groups and communities. The opposition
contends that the tax revenue gained will ultimately be lost in under–performing ... Show more
content on Helpwriting.net ...
Domestically, corporate taxes are a significant expense to businesses, so much so that corporations
pour massive resources toward acquiring the knowledge to take advantage of not only their local tax
system, but also international ones, in order to preserve as much capital as possible. As businesses
attempt to attain wealth, they mobilize towards lower–tax jurisdictions. Organizational planning is
also affected, as uneven taxes on different types of business entities lead companies like Enron to
form network webs of varying entities (Luna, LeAnn, and Murray 2008). Resource allocation to
operating tax loopholes and allowances may be considered uneconomic, but is crucial for business
survival. Domestic corporate tax rates are also inherently political; as each party has differing
mandates towards tax revenue generation and allocation. Governments now must consider tax
policy one of the major pieces to their platform. In Canada, the Conservative Party of Canada has
stressed the importance of the corporate tax rate as a vital cog in maintaining the health of the
economy. Over the last 4 years, the Conservative Party has decreased the net corporate tax rate by
2.5% with intention to lower it further to 15% effective January 1, 2012 (Canada Revenue Agency
2011).
The Liberal Party and the New Democratic Party (NDP) advocate a Keynesian–welfare

Goods And Service Of India
Goods and Service Tax– A Positive Reform in Indian
Taxation System
Dr.Rashi Gupta
Assistant Professor
JIMS Engineering Management Technical Campus (JEMTEC), Greater Noida
Guru Gobind Singh Indraprastha University, Delhi
E–mail: rashigupta.ap@gmail.com
ABSTRACT
This paper is an attempt to understand the concept of Goods and Service Tax (GST), to be
implemented in India from 1st July 2017. This changing face of Indian taxation system paves the
path of development and advancement towards which developing country like India is trying to
move on.It is the biggest and substantial indirect tax reform since 1947. The main is to replace
existing taxes like value–added tax, excise duty, service tax and sales tax. It will be levied on
manufacture ... Show more content on Helpwriting.net ...
In India also dual system of GST is proposed including CGST and SGST. It is a domestic trade tax
that will be levied in the form of a value added tax on all goods and services –in practice with some
exemptions. A value added tax exempts all inputs including capital goods. Hence, it becomes a
general tax on domestic consumption. It is a convenient and economically efficient way of taxing
consumption.It is a comprehensive tax regime levied on manufacture, sales and consumption of
goods and services. It is expected to bring about 2% incremental GDP growth of the country.
The Value Added Tax (VAT) when introduced was considered to be a major improvement over the
pre–existing Central excise duty at the national level and the sales tax system at the State level. Now
the Goods and Services Tax (GST) will be a further significant breakthrough – the next logical step
– towards a comprehensive indirect tax reform in the country. Despite the success with VAT, there
are still certain shortcomings in the structure of
VAT both at the Central and at the State level. The shortcoming in CENVAT of theGovernment of
India lies in non–inclusion of several Central taxes in the overallframework of CENVAT, such as
additional customs duty, surcharges, etc., and thuskeeping the benefits of comprehensive input tax
and service tax set–off out of reach formanufacturers/dealers. Moreover, no step has yet been taken
to capture the valueaddedchain in the

Should The Us Use A Zero Personal Income Tax?
Introduction
This paper intends to address the question – "should the US converts to a zero personal income
tax?" – by doing a comparative analysis between the United States of America (US) and a zero tax
country somewhere in the world. Based on the research conducted, it was discovered that there are
ten countries that operates a zero personal income tax system. Of these ten countries, Qatar (a
country located in the Middle East) was chosen randomly for this analysis. It should be noted that
the economies of these two countries are vastly different in terms of gross domestic products (GDP),
revenue and spending. However, the focus of the paper is on Qatar's strategies in operating its
economy in the absence of personal income tax. And decipher whether the US can garner any useful
data that will be instrumental in transforming its tax system, with the goal of abolishing personal
income tax.
Qatar
This oil rich country is vibrant and economically strong. According to Roy Sudip of Euromoney,
Qatar has the world's third biggest gas reserves, equivalent to more than 300 years–worth of stock at
both current and forecast production rates, as well as significant oil reserves (https: web–b–
ebscohost.com). Furthermore, its GDP is $212 billion and GDP per capita ranked 5th in the world.
Qatar has one of the highest standard of living and economic productivity. Its annual growth rate has
averaged just over 19 percent in 2006 – 11, driven by the country's growing liquefied natural gas

The Base Erosion And Profit Shifting Action Plan
Introduction
As a summer intern in PricewaterhouseCoopers international tax group, OECD's new tax project,
Base Erosion and Profit Shifting (BEPS), has been a hot topic in our group as well as the company
for a long time, since the completion of all actions will take place very soon at the end of year 2015.
Our international team deals with lots of international corporations which typically have subsidiaries
in multiple countries and different elections for different tax purposes. Because majority of the
countries in client's family trees are participating countries in OECD's BEPS project, a close
attention need to be raised on the issues, impacts and solutions from the Base Erosion and Profit
Shifting Action Plan. Therefore, in this issue and solution paper, I will primarily focus on my
researches of issues and solutions related to the discussions about the Base Erosion and Profit
Shifting action plan, including its background, why the project is important, the goal of the project,
how does it affect tax rules, how does it affect companies, challenges for companies, threat to
privacy, solutions/how to prepare, and finally the conclusion of OECD's BEPS project.
Background
Organization for Economic Co–operation and Development, known as OECD, is an international
economic organization participated by 34 countries, targeting to stimulate world trade and
international economic progress. According to its mission statement, OECD is a combination of
nations classifying themselves

Uk Tax System Essay
A tax system is simply the collection of taxes in an economy. It is a sum of money paid by people or
businesses to a government, to be used for public purposes. Taxes are raised through various means
and the systems vary for each country. The main taxes in the UK, USA and Australia will be
explained. Countries use the taxes they receive in different ways. Aims and targets of most countries
vary, as does the amount of tax generated. Due to this, expenditure is prioritised and spent
accordingly. Government expenditure will therefore also be discussed.
The UK Tax system
In the UK taxes are collected for a variety of reasons. A wide variety of methods are used to raise
the different taxes. The UK government uses taxes to manage ... Show more content on
Helpwriting.net ...
The projected revenue for 08/09 is ₤83.8billion (the third highest tax revenue source at 15.4%).
There are three rates for VAT: 17.5% (standard), 5% (reduced) and 0% (zero).
Those who have to register for VAT include businesses (including sole traders). Failure to register
can lead to heavy sanctions. It is compulsory for businesses with a taxable turnover of over ₤67,000
to register but those who receive less can also do so.
Goods and services liable to VAT are called 'taxable supplies'. Those companies who have a turnover
of ₤67,000 or more must charge VAT on all taxable supplies at whichever rate is applicable.
"'Supplies' include day–to–day sales as well as other supplies such as the sale of business assets,
items sold to employees and goods you take out of the business for your personal use." (HM
Revenue & Customs, 2008)
Lower rated supplies (5%) include fuel, power and children's car seats. Zero rated supplies include
some types of food, books and transport). Goods and services such as insurance, training, loans and
some forms of education are exempt from VAT.
Once registered, HMRC are owed the difference between output tax (VAT charged to customers)
and input tax (VAT charged by the supplier). If input tax turns out to be more than output tax, a
refund may be received.
Consequences of registering for VAT include:
" – VAT must be submitted to Customs and Excise
– Inspection from Customs and Excise officers

Multinational Corporations Vs. Small And Medium...
The fundamental goal of every company is to maximise profit – to make money. That is the main
reason people create businesses whether it be the large corporations or the small and medium
enterprises (SMEs). Because of gloablisation, firms are competing in a highly competitive market
where there is increasing pressure to find ways to perform better – to get that above average returns.
However, there is one thing other than economies of scale that greatly disadvantage the SMEs from
the large multinational corporations (MNCs) and that is profit shifting. First of all, MNCs are
organisations that operate in more than one country. Profit shifting is when MNCs utilise the
differences in tax laws to "shift income to low–tax affiliates and ... Show more content on
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In a journal article by Bartelsman and Beetsma (2000), they looked at the presence of profit shifting
in response to the disparity of the corporate tax rates among several OECD countries. They used
sectoral data as a method for their analysis. They have found that the magniture of profit shifting is
sufficiently great and worthy of attention. They estimate that a one percent unilateral increase in tax
rate will result in a three percent decline in corporate tax revenues, where the organisation's profit is
unchanged. Moreover, the researchers found that having stricter enforcement in an already high–tax
jurisdiction will have a negative impact on their tax revenues and that real activity is transferred to
countries with lower tax rates or more lenient enforcement.
As mentioned previously, increasing pressures of competition and the goal of making more profits
are the reasons why organisations try to find ways to minimise their costs. However, profit shifting
is done because they saw the substantial disparity of corporate tax rates among countries and thus,
an opportunity to minimise costs (Bartelsman & Beetsma, 2000; Holtzblatt et al., 2015). Exhibit 1
shows the corporate tax rates in developed countries (see Appendix). Australia's corporate tax rate is
30%, which is the 4th highest (tied with Mexico) among OECD countries, where it is topped by the
US at 35%, France at 34.43%, and Belgium at 33%. Holtzblatt et

A Guide to Zimbabwe Goverment Revenue
A GUIDE TO ZIMBABWE GOVERNMENT REVENUE | A Toolkit and Guide for Legislators and
Civil Society Organizations | | This toolkit is meant to equip Legislators and Civil Society
Organizations to effectively monitor the Government of Zimbabwe Revenues as part of the broader
Budgetary Policy Analysis and input | | | |
Table of Contents Chapter 1: Introduction 4 1.1 Background 4 1.2 Enabling Legislations 4 1.3 Tax
Reforms 5 1.4 Taxes and the economy 6 1.5 The toolkit 6 Chapter 2: Government Revenues
categories 8 2.1 Definition of Revenue 8 2.2 Types of Government Revenue 8 2.3 Major Taxes
charged in Zimbabwe 10 2.4 Major Tax Types 14 2.5 Non–tax revenues: 14 2.5.1 User charges 14
2.5.2 Administrative ... Show more content on Helpwriting.net ...
Prior to independence and up to 2001, the principal tax collection agencies were known as the
Department of Taxes and the Department of Customs and Excise. The Department of Taxes was
charged with the collection of corporate tax, sales tax, personal income tax, capital gains tax, etc,
while the department of Customs and Excise's duty collected border taxes and the so–called "sin
taxes" in the form of liquor and tobacco excise taxes. Economic reforms dictated by the IMF and the
World Bank brought in a wave of reforms in the revenue collection capacities of state and its
agencies. Aside from the introduction and implementation of user fees in services departments such
as schools, clinics and hospitals, the reforms culminated in the combination of the two key
departments to form the Zimbabwe Revenue Authority (ZIMRA), headed by a Commissioner
General. ZIMRA was established on 19 January 2001 as a successor organisation to the then
Department of Taxes and the Department of Customs and Excise following the promulgation of the
Revenue Authority Act on February 11, 2000. Among other reasons for this amalgamation were the
world trends, desire to improve efficiency by reducing bottlenecks and duplication of roles. This
harmonized revenue collection agency worked at purging corruption particularly at border posts, by
implementing a complete

Apple 's Strategies For Global Tax Minimization
APPLE'S STRATEGIES FOR GLOBAL TAX MINIMIZATION
Intercompany transactions could occur across national borders, it would lead MNC companies to get
more exposure to the differences of the tax regulations between countries. This might lead MNC
companies to set up their objective to minimize their taxes through the use of discretionary transfer
prices. These issues are attracted the attention of the member of the U.S. senate, foreign
governments and international organization such as the OECD, G20 and European Union (EU).
Apple Inc. is one of the companies implementing tax minimization strategies to lower taxes. Apple
received a lot of criticism from various parties (media, governments, and international
organizations). It is because the estimation of tax savings from the company are very high as its
worldwide earnings are so high. Apple set up new companies in tax havens country and shifts the
profit to those companies. This article will give an explanation on how Apple Inc. lower its taxes
through international tax minimization strategies.
Apple profits is not generated from physical goods but from royalties of intellectual property like
patent. It is similar to other giant technology companies such as Google, Yahoo, Microsoft, Amazon,
and Hewlett–Packard. It allows them to move their profits very easy to their subsidiaries in the
lower tax jurisdiction, since their products are downloadable and can be sold from anywhere around
the world. They don't need a physical store or

Tax Implications of E-Commerce in Nigeria
ABSTRACT
This paper examines the Tax Implications of E–Commerce. The issue of e–commerce and its tax
implications continues to receive a high level of attention because of the fast growth of e–commerce
activities. In the emerging global economy, e–commerce has increasingly become a necessary
component of business strategy and a strong catalyst for economic development. The integration of
information and communications technology (ICT) in business has revolutionized relationships
within organizations and those between and among organizations and individuals. Specifically, the
use of ICT in business has enhanced productivity, encouraged greater customer participation, and
enabled mass customization, besides reducing costs. Even before the ... Show more content on
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Countries might differ over where the presence of a facility, the location of customers, the passage
of title or a number of other factors determines where the income arises. E–Commerce facilitates
cross–border transactions and as a mechanism has particular relevance to international taxation.
Consequently according to Li, Jinyan(2003) while e–commerce might not introduce any new
problems, it is apparent that any problem already associated with an inability to synchronize or
inter–relate a variety of disparate taxing systems became exacerbated by a model that facilitates the
very types of transactions that result in such problems in the first instance.
A fundamental change in existing tax rules does not appear to be requisite. However internet and e–
commerce has increased the need for efficient and equitable tax treatments of firms operating in
multiple tax jurisdictions. Current procedure used by most countries to allocate the tax base between
jurisdictions and to avoid double taxation through a network of more than 1,500 bilateral double
taxation treaties, is not only cumbersome, but will also come under increasing pressure as the scope
and volume of cross border activities expand sharply. This is because the double taxation treaties are
based on the assumption of national sovereignty in tax policy, which will become less relevant as
globalization progresses. Most discussions with respect to

How Namibia Is A Multi Party System Of Government Essay
Namibia fiscal regimes Fiscal Analysis
Mabel Nwokolo
2016
1. INTRODUCTION
Namibia is found in the southern region of Africa. Initially ignored by international petroleum
companies. However, in recent times has been called as one of the last frontiers of oil and gas
exploration.
Namibia is a democratic state that has a multi–party system of government.
The executive, judiciary and legislative powers comprises of Namibia system of government.
The Namibian oil and gas industry is supervised and monitored by the legislative.
Find below the list of Namibia regulatory Law:
Petroleum (Exploration and Production) Act, 1991 (Act 2 of 1991);
Petroleum Taxation Act, 1991 (Act 3 of 1991);
Petroleum Laws Amendment Act, 1998 (Act 24 of 1998); and the
Model Petroleum Agreement (MPA), 2007
Namibia has a total population of 2.3million (from 2015 census record), Land area of about
823290km2, with Gross domestic product (GDP) of 13.11Billion USD (2015) and GDP per Capita
of 5693.13USD.
The figure below shows the Map of Namibia, its location in Africa and acreage states.
NAMCOR OVERVIEW
NAMCOR – Established under the Petroleum Act known as Exploration and Production Act of
1991. As an SOE of the ministry of Mines and Energy, they are allowed to participate across the
value chain.
NAMCOR duties include:
Vehicle for participation in the petroleum industry on behalf of the GRN

Technical Advisory Services to the Ministry

International Trade Has Dramatically Increased...
International trade has significantly increased with the globalisation of the world economy. The
rapid growth in the world economy and the modernisation of the economy has led significant cross
border exchange of goods, services and capital. Between 2000 and 2014, the export of goods and
services exports grew by an annual average of 7.09% while imports of goods and services grew by
an annual average of 7.21%. This growth is higher than the average GDP growth over the same time
which averaged 3.99% annually. In Kenya, exports and imports grew by an annual average of 4.49%
and 8.26% respectively between 2000 and 2014. This compares unfavourably with the annual
average GDP growth rate of 4.39% over the same time . A significant proportion of international
trade comprises of trade between affiliates of multinational enterprises (MNE). For instance in the
United States of America (USA) intra–firm cross border trade between 2005 and 2014 ranged
between 39.8% to 42.3% of the total value of cross border trade in goods with a low of 39.8% being
recorded in 2008 and a high of 42.3% being recorded in 2014. The value of intra–firm trade for USA
import from Africa constituted 31.9% of the total value of imports from Africa by the USA in 2014
while intra–firm export by the USA to Africa accounted for 15.6% of the total exports from the USA
to Africa in 2014 . Data on intra–firm trade from African countries to other regions of the world is
rare. It can be inferred that the proportion of

Advantages Of Mutual Agreement Procedure
INDEX
1. The mutual agreement procedure
1.1. The rise of the mutual agreement procedure
1.2. The weaknesses of the competent authority procedure
2. Proposals for arbitration
2.1. Lindencrona and Mattsson's proposal for an arbitral procedure
2.2. Carl S. Shoup's proposal
2.3. The ICC – all for arbitration
2.4. The OECD – 'an unacceptable surrender of fiscal sovereignty'
3. Current use of arbitration
3.1. The draft German–Swedish Income Tax Treaty
3.2. The USA–Germany Treaty
3.3. The Arbitration Convention
This chapter reviews the historical development of different methods of international tax dispute
resolution, looking at the workings of the mutual agreement procedure, its strengths and
weaknesses, and at the reasons for the infiltration or for the lack of it of arbitration as a more
conclusive and effective method of dispute resolution.
1. The mutual agreement procedure
1.1. The rise of the mutual agreement procedure
1.1.1. League of Nations Model DTC
Between the First and the Second World Wars, a number of ... Show more content on
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Thus, rules for a mutual agreement procedure started appearing in DTCs, authorising the competent
authorities to enter negotiations with the aim of obtaining agreement to solve individual cases in

which the intentions of the convention had not been fulfilled.[7] As this method developed further,
conventions started laying down special rules governing the conduct of the negotiations between the
competent authorities and before long, the mutual agreement procedure had crystallised in the
foremost method of solving disputes arising from the implementation and interpretation of the
DTCs, so much so that it was adopted by the OECD Draft DTC on Income and on Capital adopted
by the Council in 1963.[8] Nonetheless the mandates of the convention were limited as they only
contemplated the appointment of commissions to serve as consultative bodies for each particular
dispute and stopped short of providing them with any adjudicative

Taxation International Comparison Assignment : Taxation
Taxation International Comparison Assignment
One of the major purposes of taxation is to redistribute income. The government aims to collect
from earning of residents and distribute it to those who are incapable for supporting their families.
The main benefits offered to families in New Zealand, with Children less than 18 years of age, are
the working for families' tax credit and parental leave. These tax credits provide income tested
benefits to families with children at home who are under 18. There are different criteria put in place
to check the eligibility of the individuals receiving the credit. The idea of family tax credit is to
ensure that every child in New Zealand is bought up in stable environment where they feel safe and
healthy. All payments are made to an eligible parent to help with the family 's day–to–day living
costs. According to statistics New Zealand "1 in 4 children under the age of 18 live in households
defined as medium or high risk, or those with more than 3 risk factors". (Statistics New Zealand,
2012) These risk factors include low economic standard of living, poor housing problems, over
crowded houses and limited access to facilities. For this reason, it is duty of the government to
ensure that, every child in this country has access to a decent standard of living. This includes access
to food, healthcare and education.
This report will be looking into detail on Family tax credit policies in New Zealand in comparison
with that of Australia and

Essay On Gst
GST India: Effects on Indian Economy
Abstract
The introduction of GST is a single move enveloping all indirect taxes that will make country single
unified common market. It is a destination based multipoint tax system covering in its ambit both
goods and services. It is single tax on the supply of goods or service, right from the manufacturer to
the consumer where credits of GST input taxes paid at each stage shall be available in the
subsequent stages of value addition, thus, makes GST essentially a tax only on the value addition at
each stage.1 Hence, the final consumer will bear only the GST charged by the last dealer in the
value chain along with set off benefits at all the previous stages. All other indirect taxes will be
abolished ... Show more content on Helpwriting.net ...
Central Excise Duty
2. Additional Excise Duty
3. Service Tax
4. Countervailing duty
5. Special Additional Duty of Customs 1. Subsuming of State Value Added Tax/ Sale Tax
2. Entertainment Tax( other than levied by the local bodies), Central Sales Tax( levied by the Centre
and collected by the states)
3. Octroi and Entry Tax
4. Purchase Tax
5. Luxury Tax
6. Taxes on lottery, betting and gambling
It has been long pending discussion to abolish various types of indirect taxes and implement a single
taxation system. This system is called as GST. The main expectation from this system is to terminate
all indirect taxes and only GST would be levied both on goods and services.
Types of GST Returns
There are many returns under the ambit of GST. The most common used returns will be GSTR1,
GSTR2, GSTR3, GSTR4 and GSTR9.
Return Purpose Frequency Due Date
GSTR1 Outward sales by business Monthly 10th of next month
GSTR2 Purchases made by business Monthly 15th of next month
GSTR3 GST monthly return along with payment of amount of tax Monthly 20th of next month

GSTR4 Quarterly return of tax Quarterly 18th of next quarter
GSTR5 Periodic return by Non–Resident foreign taxpayer Monthly 20th of next month
GSTR6 Return for Input Service Distributor Monthly 15th of next month
GSTR7 GST return for TDS Monthly 10th of next month
GSTR8 GST return for economic suppliers

OECD Advantages And Disadvantages
implementation of the convention on combating bribery of foreign officials in international business
transactions. The OECD may produce standards and models such as bilateral treaties on taxation,
corporate governance guidelines or environmental guidelines. Budget: The size of the budget is
determined every two years by the member countries. The OECD's financial statements are audited
annually by external, independent auditors. Planning and budgeting and management are performed
on a results based system. Each member country contributes funds based on a formula which takes
account of the size of the country's economy. The largest contributor is the United States followed
by Japan. Countries can make voluntary donations in times of crises. The organisation unlike the
International Monetary Fund or World Bank does not make loans or grants. Other stakeholders:
OECD.org (2017) identifies its cooperation with civil society and states it "is committed to giving a
voice to civil society stakeholders and helping ensure that their views are factored into the OECD's
work and hence making the OECD analyses stronger". It does this through engagement with various
agencies including Business and Industry (BIAC) and the Trade Union Advisory Committee
(TUAC). It also works with non–governmental ... Show more content on Helpwriting.net ...
The OECD's database of statistical and economic data assists countries in analysing and monitoring
their economic, social and environmental policies. Member countries have access to the expertise,
peer review, research and analysis carried out by the organisation. This work could not be carried
out by one country alone. Countries can discuss and identify globally acceptable standards and
solutions to common problems. The OECD has a working relationship with non–member countries
and member states benefit from dialog with all countries of the world. Interdependence demands
that all countries of the world play by the rules of the

Transfer Pricing
Transfer Pricing in Developing Countries An Introduction
Topics
1. Abstract 2. International tax law & its sources 3. Brief history of International Tax Law 4. Who
gets the pie? 5. Arm 's length principle : Cornerstone of International Tax Law 6. Transfer pricing
methods 7. Problems with of source taxation of MNE 's 8. Internet & e–commerce : Achilles heel of
current International taxation regime? 9. Formulary Apportionment (FA) 10. Existing uses of
Formulary Apportionment systems in the world 11. Developing countries & Formulary
Apportionment 12. Critique of Formulary Apportionment 13. Transfer pricing and Formulary
Apportionment : One continuum 14. Conclusion 15. Acknowledgements 16. References
Section 1 Abstract The aim of ... Show more content on Helpwriting.net ...
Initially, the League of Nations appointed 4 eminent economists (Prof. Bruins of Netherlands, Prof.
Einaudi of Italy, Prof. Seligman of the USA, Prof.Stamp of UK) to conduct a theoretical study of
international double taxation. Their expert report published in 1923[6] was used as the basis of the
1928 models[7] which in turn find their pattern repeated in many of the Treaties of today. 3.b) 1935
Model convention[8] The 1935 Model Convention defined the term "business income" and was the
first model treaty to contain specific provision on allocation of profit from one company to an
associated company. Though the 1935 convention was never formally adopted it was of great
significance because of the issues it dealt with. The 1935 draft adopted the principle of income
attributable to a permanent establishment based on separate accounting. Interestingly, it provided
two more methods – a) empirical method (percentage of turnover for example) b) fractional
apportionment under which net business income was determined by various factors. Further, the
1935 model provided for all items of income other than those allocable to specific sources to be
grouped together as "business income" and rendered taxable on a net basis. The 1935 draft was
mainly based on the "Carroll Report" [9] which was compiled based on Carroll 's visit to 27
countries to extensively study their tax systems. Carroll

An Investigation On Apples Tax Practices
Therefore, after immense speculation the EU opened an investigation on Apples tax practices in
Ireland. After an extensive investigation the EU issued a ruling that Apple must pay the Irish
government up to 13 million Euros in back corporate taxes. Apple is appealing the EU ruling
indicting that they did not violate any laws and should not be forced to pay back taxes. However the
most startling aspect of the case is that Ireland is actually siding with Apple and going against the
EU. On the flip side when you look at the intricacies of the situation Irish government is showing
solidarity with Apple because it is well aware of the benefits of having Apple conducting business in
Ireland. The Irish government knows that if Apple is forced to pay back taxes that they will conduct
significantly less business in Ireland which would hurt the Irish economy in the long run.
Pfizer/Allergan Merger Pfizer is one of the largest pharmaceutical corporations in the world and is
the manufacture of many popular drugs including Advil. On the other hand Allergan is a smaller
pharmaceutical corporation based in Ireland known for making Botox. So, in late October 2015
Pfizer was on the verge of acquiring fellow pharmaceutical company Allergan in a $160 billion
dollar deal. Pfizer was intrigued about acquiring Allergan because the deal would have allowed
Pfizer to relocate its headquarters from New York City to Ireland and in turn benefit from their
corporate tax rate lower tax

The Taxation Of South Africa
(Alternative version to first line "Just as an egg will vary from hen to hen, so do tax systems from
country to country.")
As there are no two eggs that are identical, tax systems vary from country to country. Each country
has its own rules and principles to levy taxes from its citizens and foreigners to whom it conducts
business in order to support its operations. South Africa is no different. When a country's own
people conduct business, or foreigners invest or trade within its domestic jurisdiction, it is necessary
for the tax system to balance carefully its domestic and international economic objectives. It is
essential to understand how the taxation system is applied to residents and non–residents in order to
maximize one's own ... Show more content on Helpwriting.net ...
Income is taxed in the country where that income originates, irrespective of the legal or physical
residence of the recipient. Even though South Africa Adopted the residence based system in 2011,
many states will still tax the income derived by a person from commercial activities undertaken in
their states. A source–based system of tax imposes a taxation liability on income arising within a
specific jurisdiction or territory.
From the Appellate Division of Kerguelen Sealing & Whaling Co., Ltd v CIR ˡ, the fundamental
logic of a residence based tax system has been contrasted to that of a source based system in the
following: "In some countries residence (or domicile) is made the test of liability for the reason,
presumably, that residents, for the privilege and protection of residence, can justly be called upon to
contribute towards the cost of good order and government of the country that shelters him. In others
(as in ours) the principle of liability adopted is 'source of income': again, presumably, the equity of
the levy rests on the assumption that a country that produces wealth by reason of its natural
resources or the activities of its inhabitants is entitled to a share of that wealth, wherever the
recipients of it may be live. In both systems there is, of course, the assumption that the country
adopting the one or the other has effective means to enforce the levy."
For tax purposes, it is important to know how

Application Writing At The Law School
NOTE: As discussed Professor, large portions of this paper have been written in connection with a
paper I am currently writing at the law school. Should you have any questions (or would like to see
that paper, once it is completed), let me know.
Word Count: 2939
They have been termed "corporate deserters" by President Obama, while members of the media and
public have been considerably harsher. The rhetoric surrounding multi–nationals has recently
polarized, in part because of their use of Offshore Financial Centres (OFC's). OFC's allow
corporations to both shift assets to low tax jurisdictions through the use of transfer pricing and
reinvest foreign revenues abroad to avoid repatriation tax. Such activities have been criticized as ...
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While there are many facets to international taxation, recent research has looked to the use of OFC's
as a conduit for Foreign Direct Investment (FDI), likely in response to the increasing cross–border
flow of FDI. This paper steps away from the moral and political rhetoric surrounding this debate,
and looks to the economic effects of OFC's on the parties involved. More particularly, this paper
begins by briefly discussing why low–tax jurisdictions and multi–national corporations engage in
this behavior. After demonstrating the generally positive benefits of outward FDI, this paper
analyzes the contentious effects of using OFC's as a conduit for outward FDI. In lieu of a weak
patriotic cheer, this paper focuses primarily on the benefits that OFC's may hold for Canada. I
conclude that the reasonable use of transparent OFC's increases the competitiveness of Canadian
corporations, leading to more Canadian jobs, capital creation and domestic tax revenue.
Furthermore, increased dialogue with OFC's can result in legal, social and financial innovations in
Canada. Lastly, this increased dialogue would be an ideal role for the federal government, as
described during our class discussions. In light of this conclusion, I advocate for increased dialogue
between Canada and OFC's.
What is an OFC?
This paper would be remiss if it did not begin with a

Tax Evasion And Tax Taxation
"Nothing is certain but death and taxes." Taxes are an important element of a developed society,
where people concern about them, grumble about them, and even attempt to stay away from them by
different means. Not only individuals, companies and firms also adopt different strategies to avoid
paying taxes, these include tax avoidance and tax evasion. Tax avoidance is generally defined as a
more 'legal' means with the taxpayer lowering his/her tax liability by making use of the loopholes
and vagueness of the tax policies to reduce the amount of tax paid in different areas, whereas tax
evasion refers to purposely understate his/her taxable amount in order to lower his/her tax liability
(Jain, 1987). Tax evasion is therefore strictly against ... Show more content on Helpwriting.net ...
In the second section, the essay will then evaluate which taxes are more vulnerable to tax avoidance
and tax evasion. The paper will suggest some particular tax bases that can be continued to use
whereas the tax bases that should not be used or should be refined. In the last section, the paper
concludes by concentrating on recommending different methods to tackle the problem of tax
avoidance and tax evasion.
To start with, people have exploited the freedom to build complex business structures to take
advantage of the loopholes in tax rules. Tax Justice Network (TJN), an independent international
network launched in 2003 that aims to arouse attention and discuss issues related to tax and financial
globalization, have been constantly stressed the need for different countries to adopt adequate
methods of corporate transparency for tax administration purposes, for example, business
ownerships registration, a popular type of tax avoidance (Corporate Reform Collective, 2014). Areas
of authority such as the British Virgin Islands are renowned for forming offshore companies to avoid
paying business taxes. Tax evasion creates social problems as well. If taxpayers successfully evade
their tax payments, the hidden income eventually becomes their own wealth. As mentioned before,
tax evaders are an important element of the black market

Advantages And Disadvantages Of Tax Haven
A Tax Haven is defined as, a place that seeks to attract business by offering politically stable
facilities to help people or entities get around the rules, laws and regulations of jurisdictions
elsewhere .
Tax havens also refer to countries which have a system of financial secrecy in place. It should be
noted that, financial secrecy can be used by foreign individuals to circumvent certain taxes (such as
inheritance tax on money, and income tax of the interest on the money you have on your bank
account. Because the requirement of paying taxes on these funds can not be transmitted, as the funds
themselves are invisible to the country the individual is from, such taxes can be avoided. Earnings
from income generated from real estate (i.e. by renting ... Show more content on Helpwriting.net ...
FACT: According to data compiled by the State Department, the CIA, the IRS, and the Financial
Action Task Force, low–tax jurisdictions are less likely to engage in money laundering. This is
likely due to the fact that revelations of illicit activity would be very damaging to the reputation of
small economies, so there is a much greater incentive to weed out wrong–doing. Moreover,
criminals tend to avoid taking stolen money offshore because cross–border transactions raise red
flags and create paper trails .
 Tax havens encourage tax evasion.
FACT: Excessive tax burdens in welfare states such as France encourage tax evasion. This leads to
capital flight to places such as Hong Kong, Switzerland, the United States, and the Cayman Islands.
If French politicians do not like capital flight, they should lower France's oppressive tax rates.
Moreover, tax havens play a key role in protecting people victimized by crime, corruption, and
ethnic or religious persecution precisely by shielding them from venal governments .
 High–tax jurisdictions are unable to compete with tax havens and therefore have little choice but
to push for protectionist policies in order to retain entrepreneurial talent and

Cross Border Shopping Of Federal Economy
Cross–Border shopping in Federal Economy
Introduction
Emergence of revolution in the world led to globalization. Hitherto, people gain from massive and
healthy business trade across the borders (Lucas, 367). In this case, one country is able to gain from
selling or buying of goods. Moreover, countries realized the importance of creating a global trading
arena to encourage the produces from all economies through integration. In this regard, people
enjoyed from some exemptions that interfered with flow of goods and service across borders.
Despite the vast advantage that parties enjoy in this kind of trade, they face various hurdles, which
demoralize them as they perform their business transactions. For instance, changes in the economic
status in one of the countries result in reduction in value of goods. Likewise, some traders may
suffer due to high rates of taxation in the bordering countries.
in increasing tax collection (Lucas 369; & Ballard and Lee 720). Besides, an understanding
cultivates from their works that the government

What Is Taxation As An Instrument Of Economic Development...
TAXATION AS AN INSTRUMENT OF ECONOMIC GROWTH AND DEVELOPMENT IN
NIGERIA
BY
MOHAMMED NASIR MOHAMMED
08/02AC039
AUG, 2012
CERTIFICATION
This research work has been read and approved as meeting the requirement for the award of
Bachelor of Science (Hons.) degree in the Department of Accounting, College of Management
sciences, Al–Hikmah University of Ilorin, Ilorin.
................................. .................
Mr. A.B Uthman DATE
PROJECT SUPERVISOR
............................................... ..........................
Mr. R.A Iyanda DATE
HEAD OF DEPARTMENT (ACCOUNTING) ... Show more content on Helpwriting.net ...
79
REFERENCES 80
APPENDIX: QUESTINNAIRE. 82
ABSTRACT
Taxation is identified as a very important tool for national economic development and growth in
most societies. Taxes provide sustainable revenue for government to carry out its activities. The
government's activities help in creating and wealth and employment opportunities in the society,
creating an avenue for citizens to earn income on which taxes are levied. Through this continuous
process the circle of growth and development in the country is sustained.
But in Nigeria there is

The Issue Of International Taxation Essay
International taxation is one of the most pressing global topics in the world today. Tax regulations
was one of the most pressing topics in the recent United States presidential campaign. The reason
that people are so concerned with taxation is because it affects many aspect of society. Taxes affect
how much money employees are able to take home. The government is concerned with taxes
because it is hoe it generates revenue to fund governmental programs. The Mariam Webster
dictionary defines a tax as "a compulsory contribution to state revenue, levied by the government on
workers ' income and business profits or added to the cost of some goods, services, and
transactions." Therefore, a tax is any contribution levied by a government for some types of
transaction. In addition, taxes are not unique to any particular country. The type of taxes and tax
rates that are utilized in countries may vary. However, every government in the world use taxes as a
means of generating revenue in order to fund governmental activities. With the spread of
globalization, countries were able to engage in business transactions with other countries across the
globe. Therefore, major corporations began to conduct more business activities in other countries.
As a means of regulating its counter trade and business global regulatory organization were
established. Organizations such as the World Trade Organizations are designed to allow a uniform
and fair trade among countries. However, a tax is

Emergence of a Global Trading Arena

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