Fundamental principles of taxation a basic program for the necessary revision of our federal revenue laws by National Industrial Council.

Cover of: Fundamental principles of taxation | National Industrial Council.

Published by The National Industrial Council in New York City, Washington, D.C .

Written in English

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  • United States.


  • Taxation -- United States.

Edition Notes

Book details

Statementformulated by a special committee representing organized industry.
LC ClassificationsHJ2379 .N37
The Physical Object
Pagination31 p.
Number of Pages31
ID Numbers
Open LibraryOL6663288M
LC Control Number24007799

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Emphasizing a hands-on approach to tax education, every concept introduced in Fundamentals of Taxation includes meaningful exercises that allow students to reinforce what they are learning. This book is designed to not only expose beginning tax students to tax law, but to also teach the practical intricacies involved in the preparation of a tax return/5(4).

Fundamentals of Taxation Edition, 13th Edition by Ana Cruz and Michael Deschamps and Frederick Niswander and Debra Prendergast and Dan Schisler () Preview the textbook, purchase or get a FREE instructor-only desk Edition:   The book explains the fundamentals of taxation in a simple manner and without reference to a specific legal system.

This method allows the book to set out fundamental considerations beyond the boundaries of any actual tax system whilst emphasizing that taxation is always rooted in a legal regime, policy considerations and administrative : 2. FUNDAMENTAL PRINCIPLES OF TAXATION – 31 • Effectiveness and fairness: Taxation should produce the right amount of tax at the right time, while avoiding both double taxation and unintentional non-taxation.

In addition, the potential for evasion and avoidance should be minimised. Prior discussions in. Fundamental principles of taxation This chapter discusses the overarching principles of tax policy that have traditionally guided the development of tax systems.

It then provides an overview of the principles underlying corporate income tax, focusing primarily on the taxation of cross-border income both under domestic laws and in the context of tax treaties. By equality is meant equality of sacrifice, that is people should pay taxes in proportion to their incomes.

This principle points to progressive taxation. It states that the rate or percentage of taxation should increase with the increase in income and decrease with the decrease in.

International Tax Principles and Tax Treaties – Comments 22 2. Application of Tax Treaties 27 Vienna Convention on the Law of Treaties 27 How International Treaties Come into Force 31 vFile Size: 1MB. 3 PRINCIPLES OF TAXATION as one of the fundamental responsibilities of every citizen.’ (Tax Justice Network Africa,p.

4f.) In Chapter 2 of Book V, Smith develops four principles of fair taxation, namely- 1. The subjects of every state ought to contribute towards the. GENERAL PRINCIPLES OF TAXATION FUNDAMENTAL PRINCIPLES IN TAXATION. Tax planning is an important area as far as the fiscal management of a company is concerned.

An accountant has a suggestive but very specific job to do in this regard by indicating ways to minimise the tax liability through his knowledge of concessions and incentives available under the existing taxation framework of the country.

Principles of Taxation Law. Article This book provides the reader with the luxury. the small business must satisfy stringent tests (basic conditions). It is possible that the small. In contrast, traditional tax accounting course note concentrate on administrative issues while ignoring the richness of the context in which tax factors operate.

The objective of this note is to bridge this gap by providing a framework for recognizing tax planning opportunities and applying basic principles of tax. Taxation - Taxation - Principles of taxation: The 18th-century economist and Fundamental principles of taxation book Adam Smith attempted to systematize the rules that should govern a rational system of taxation.

In The Wealth of Nations (Book V, chapter 2) he set down four general canons: Although they need to be reinterpreted from time to time, these principles retain remarkable relevance. Principles of a Good Tax System [].

Efficient - A tax system should raise enough revenue such that government projects can be adequately sponsored, without burdening the economy too much (not particularly the tax payer), as not to become a disincentive for performance (internal and external investment, work returns and savings).; Understandable - The system should not be incomprehensible.

In this article we will discuss about the principles of taxation. The most important source of government revenue is tax.

A tax is a compulsory payment made by individuals and companies to the govern­ment on the basis of certain well-established rules or criteria such as income earned, property owned, capital gains made or expenditure incurred (money spent) on domestic and imported articles. This book concisely addresses the principles and theories behind taxation in an accessible and internationally relevant way.

It encourages readers to think through and develop an understanding of why taxation is imposed, the different means by which it is imposed and the nature of the problems inherent in this : Hardcover.

These principles include the following: Broad application. The system of taxation should be spread across a broadest possible population, so that no one person Broad tax usage. Taxes are only targeted at a specific use when there is a clear cause-and-effect between the tax.

The principles of good taxation were formulated many years ago. In The Wealth of Nations (), Adam Smith argued that taxation should follow the four principles of fairness, certainty, convenience and efficiency. Fairness, in that taxation should be compatible with taxpayers’ conditions, including their ability to pay in line with personal and family needs.

Read the full-text online edition of The Fundamental Principles of Taxation in the Light of Modern Developments: (The Newmarch Lectures for ) ().

Home» Browse» Books» Book details, The Fundamental Principles of Taxation in the. FUNDAMENTAL PRINCIPLES OF TAXATION. Overarching principles of tax policy.

In a context where many governments have to cope with less revenue, increasing expenditures and resulting fiscal constraints, raising revenue remains the most important function of taxes, which serve as the primary.

Page - The value of the other real estate used for railroad or canal purposes in each taxing district in this state, including the roadbed (other than main stem), waterways, reservoirs, tracks, buildings, water tanks, waterworks, riparian rights, docks, wharves and piers, and all other real estate, except lands not used for railroad or canal purposes.

these principles and to be able to apply them, i.e., todevelop some “tax intuition.” This intuition will serve well the student who wishes to take more tax classes. I tried to identify what I want students to know before enrolling in corporate tax or partnership tax and to make certain that I covered these principles in the basic – Size: 2MB.

The major accountancy and tax bodies have all adopted the three-part Professional Conduct in Relation to Taxation (PCRT). The first part covers the fundamental principles; part 2 applies those principles to tax returns and tax advice; part 3 provides more. So these are the 9 canons of taxation that are used as the fundamentals for any taxation system and study about taxation principles.

As mentioned earlier, Adam Smith originally presented the first four canons. Later, in order to better suit to modern economies and for the sake of evolution as well, more canons were s: No part of this book may be reproduced or transmitted in any form or by any means- You will be required to understand the principles of taxation and apply these principles in computation of tax.

4 Candidates should be able to explain the principles and objectives of taxation and how taxes are administered in Size: 1MB. PRINCIPLES OF TAXATION LAW is the ideal tax textbook for business, accounting and commerce students.

It is also a useful study aid for law students studying tax. The book explains taxation law concepts clearly and concisely, covering the fundamental principles of the Australian tax system. The text provides students with guidance on reading and using tax resources such as legislation, case law.

Module 1: Principles of taxation. Outline: Economic and Social Functions of Taxation. Difference between Accounting Profit and Taxable Profit. Principles of Taxation. Basis of recognition of profits and income Residential status Difference between direct and indirect tax.

IntroductionFile Size: 1MB. Fundamentals of International Tax Planning - Book Review () 38 AT Rev * * This review was first published by Thomson Reuters in the Australian Tax Review and should be cited as Fundamentals of International Tax Planning - Book Review by Rick Krever, () 38 AT Rev Pages: Basic Concepts of International Taxation.

Book. Full-text available. The ability-to-pay and tax entitlement are fundamental principles underlying the existing outbound tax system. Fundamentals of taxation 1. FUNDAMENTA LS OF TAXATION 2. NATURE OF TAXATION • • Taxation is a state power exercised through the country’s legislative body.

The principle of taxation states that taxes are collected to support the government in its. Principles of Accounting. This book covers the fundamentals of financial and managerial accounting.

This book is specifically designed to appeal to both accounting and non-accounting majors, exposing students to the core concepts of accounting in familiar ways to build a strong foundation that can be applied across business fields.

For a tax system to be considered good, the tax system must meet the rules governing it. If a tax fails to meet these principles or rules, then it is considered a bad tax system.

In this article we are going to take a look at all the principles of taxation, which all good taxes must meet. The principles of taxation are.

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Canon of equity- According to Adam Smith's canon, taxation imposed on an individual should be in accordance with his ability to pay. Canon of certainty- A tax should not cause hardship to the tax payer.

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three inherent powers of the sovereign state provisions of the fundamental law of the land that restrict the supreme, plenary, unlimited and comprehensive exercise by the state of its inherent power to Size: KB.

The Module in Basic Taxation – previously known as the Graduate Programme in the Principles and Practical Application of Taxation – is a building block towards the Knowledge and Practical Skills components of the Tax Technician and Tax Professional Qualification offered through the South African Institute of Tax (SAIT) ().

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Principles of Taxation for Business and Investment Planning Edition, 22nd Edition by Sally Jones and Shelley Rhoades-Catanach and Sandra Callaghan () Preview the textbook, purchase or get a FREE instructor-only desk Edition: This is the seventh version of this textbook, updated through December for use beginning January This textbook is not intended to be an exhaustive treatise; rather, it is intended to be far more useful than that for beginning tax law students by equipping the novice not merely with unmoored detail but rather with a rich blueprint that illuminates the deeper structural framework on.

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By W. Neilson Hancock, LL.D. GENTLEMEN—The duties of a government, as enumerated by Adam Smith, are four in number:— 1 st—To guard against foreign aggression.

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