Vodafone International Holdings BV v Union of India and another The Vodafone case is extremely vast and the facts are very extensive. It is one of the landmark cases brought before the Supreme court of India that discusses Indian Taxation and deals with the scenario where capital gains arising out of transfering of shares from a foreign holding company to another international firm. The capital gains in these cases would be those that are arising out of the benefits the company achieves with its
Jamaica Blue is an Australian family owned business operated by Foodco, an organisation created to ensure it’s retailing stores follow the correct procedures and regulations required for business and that staff receive the best training to enhance the well-being of the business and brand name. Over it’s 24 years of business Jamaica Blue has been a well known company, greatly recognised for it’s services and great coffee.The cafe chain bases it’s fortune on two beliefs: a belief in sourcing the very
request. And the EU directive has the drawback of limited membership. The third alternative of capital gain tax elimination all over the world brings the burden onto the bottom of the pyramid, so it is also undesirable. The most effective remedy for international tax evasion by individuals is automatic, multilateral information sharing through global tax organization, which has already been initiated in the European Union. More limiting measures, such as requiring more oversight of and information from
A withholding tax is an important tax required to be imposed when having transactions with non-residents. Under the taxation act in Singapore, when a person or company reimburse payments to a non-resident company or individual, he/she is necessary to withhold a percentage of that payment and pay this sum to IRAS (Inland Revenue Authority of Singapore). There are several types of payments that are subjected to withholding tax in Singapore. Every payment listed under S45 of the Singapore Income Tax
Is Starbucks` tax planning and practice setting a bad precedent? The following is a review on the Reuters’s report on ‘How Starbucks avoids UK taxes’: Reuters (2013). It looks at what tax avoidance and tax evasion are, and the issues affecting the ethics on Starbucks` tax planning and practice. Finally, to comment on whether Starbucks` tax planning is recommended for any other multinational company. 2. Tax Evasion or Tax Avoidance 2.1. A review about the tax planning Tax avoidance, subject to what
and different business stages. That is, VAT links the whole business together, anyone in the business activities cannot avoid paying a VAT. Therefore, VAT cannot affect people's consumption behaviors and prevent the economy from distorting by the taxation. Meanwhile, such properties make VAT become a large tax source to sustain the government revenue and the linkage between different business activities simplifies governments' tax inspect, that is why over half of countries in the world adopt a
Income inequality in Taiwan Why do I think it is a microeconomics issue? Microeconomics is the study that focuses on understanding how consumers and producers make choices and how they interact in a particular market (Mankiw & Taylor, 2014). Income inequality refers to the differences in income between individuals or households, or between different groups, areas, or nations. It is a term used to describe an uneven distribution of household or individual income in an economy (Black, Hashimzade &
revenue. Texas uses a regressive tax type, because it lacks of income tax revenue that divides each individual by brackets according to their incomes, while the sales tax charges everyone the same rate, regardless of their income, making this type of taxation a big problem for the poor. Utah also has a regressive tax because it charges a flat 5 percent from income Tax to e... ... middle of paper ... ...ve their advantage and disadvantage in regards their tax system; however, we can see that the state
M/S. SANOFI PASTEUR HOLDING SA V. THE DEPARTMENT OF REVENUE MINISTRY OF FINANCE FACTS OF THE CASE In the year 2009, Sanofi Pasteur Holding (hereinafter “Sanofi”) had purchased 80.37 % of share capital of a French company, ShanH, from another French company called Merieux Alliance (hereinafter “Merieux”). The remainder of share capital, i.e. 19.67% was purchased from Groupe Industriel Marcel Dassault (hereinafter “GIMD”). GIMD was also a company that was incorporated under French Law. At the time
Mini Case Assume that you recently graduated and have just reported to work as an investment advisor at the brokerage firm of Balik and Kiefer Inc. One of the firm’s clients is Michelle DellaTorre, a professional tennis player who has just come to the United States from Chile. DellaTorre is a highly ranked tennis player who would like to start a company to produce and market apparel she designs. She also expects to invest substantial amounts of money through Balik and Kiefer. DellaTorre is very bright
Why there was Discontent Amongst the Members of the Third Estates by the Late 1780's The Third Estate was a very mixed group of people, who were neither clerics nor nobility. By far the greatest proportion of this estate, comprising between 80 and 90% of the population as a whole, was peasantry. The remainder was made up of the bourgeoisie and the urban workers. The bourgeoisie (middle classes) is a rather vague term, which is often divided in turn to the haute bourgeoisie, such as the wealthy
the century have made VAT the quintessential modern tax”. It will not be an exaggeration if one were to say that the emergence of the VAT as an important and elastic source of revenue over the last four decades is unparalleled in the history of taxation. Despite the widespread proclamation of VAT, there have been difficulties in implementing VAT in its true spirit like in the case of Argentina, Brazil, Canada and India. VAT has been introduced in more than 120 countries – developed, developing
Mercedes-Benz was looking to build their first auto manufacturing plant in the United States in 1993. The company was intent on locating in North Carolina because of their experience with their large truck division plant that was located in that state. The company’s officials did not intend on visiting Alabama and was not considering the state when Governor Jim Folsom, Jr. and other officials signaled their intent to bid on the new plant. This “give-away” was viewed negatively in a state that has
Taxation on income has been a very controversial. Ever since congress passed the 16th amendment Americans have had to pay income taxes. Large taxes on the rich first started in America during FDR’s administration. During this time such high taxes were necessary because of the need for money to fund World War Ⅱ. During this time taxation on the rich reached an all time high at 94% on the income of the wealthy. Once president Reagan took office he dramatically lowered taxes (below 70%). Some people
Austrailian GST (Goods and Services Tax) The GST (Goods and Services Tax) proposed by the Howard government is a new tax which plans to add ten percent to the cost of every item purchased whether it be a car or a pen with only a few exceptions. The tax set to commence on July 1 2000 may still not become a reality if the senate does not have a majority vote on the issue. The VAT (Value Added Tax) of the United Kingdom is much the same tax adding seventeen and a half percent to all goods and
be a vital pro-growth step taken by Congress. However, given the fickle and high risk nature of investments and entrepreneurships, and the importance of maintaining a competitive economy in a global environment, capital gains should be exempt from taxation altogether. A zero percent capital gains tax would attract entrepreneurial risk taking, which is very important to economic growth. It would entice wealthy investors to invest in a certain enterprise, which in small numbers would immensely increase
Taxation, the government acquisition of property from the individual has mixed support in any Western democratic system. To make its way into the good will of the majority, taxation has surrounded itself with doctrines of justification. No law which lacks public approval or acquiescence is enforceable, and to gain such support it must address itself to our sense of correctness. This is particularly necessary for statutes authorizing the taking of private property. Sometimes depicted as ‘theft’ by
Prior to 1978, local governments maintained a great deal of freedom in budgeting. The majority of revenue for local governments came from property taxes. They were able to set their own property tax rates based on revenue needs and meet the service demands of residents while avoiding budget deficits. However, the adoption of Proposition 13 in 1978 put a major constraint on property tax as a source of revenue. The impact was felt much more in counties than cities, as property tax made up around two-thirds
Most of the problems of the United states are related to the economy. One of the major issues facing the country today is social security. The United States was one of the last major industrialized nations to establish a social security system. Social security is a government program that helps workers and retired workers and their families achieve somewhat of economic security. Social security provides cash payments to help replace income lost as a result of retirement, unemployment, disability
income tax is due, if an individual has done what is necessary, they will end up with a refund. If not, they can end up with a high tax repayment bill that leaves them wondering what went wrong. What if, however, there was a way to change the Nation’s taxation system? Would it be worth it to an individual to pay more for items instead of paying taxes at the end of the