SWFT Comprehensive Vol 2020
43rd Edition
ISBN: 9780357391723
Author: Maloney
Publisher: Cengage
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Students have asked these similar questions
We tax net income? What economic distortions would occur if we taxed gross receipts?
True or false is regulatory tax is intended to achieve some social or economic end?
Why value added tax bad?
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- Based solely on the definitions in the chapter, is the sales tax a proportional, regressive, or progressive tax? Explain, and state how the tax might be viewed differently.arrow_forwardwhat is the disadvantage of not providing deferred tax?arrow_forward1. If there is a conflict between a BIR Ruling and a Revenue Memorandum Ruling, which will prevail? 2.Which tax system impacts more on the rich people, and why does it impacts them more?arrow_forward
- Are deferred taxes an unfair loophole that must be closed? What are the specific concerns that have been expressed over the years and do you see the rules surrounding deferred taxes changing in the future?arrow_forward1. What is the effect of financial distress and taxation on gearing? A. Both constrain gearing B. The tax constrains gearing; financial distress pushes for increased gearing C. The tax pushes for increased gearing; financial distress constrains gearing D. Both push for increased gearingarrow_forwardExplain why administrative and compliance costs of taxation is important regarding taxation? What are the specific measures that you are proposing to make a tax system simpler?arrow_forward
- Taxes result in an excess burden or welfare loss, but government subsidies always result in a welfare gain. True or false? Explain fully.arrow_forwardAdopting wrongful means to show less profit to avoid tax is part of : a. Tax evasion b. Tax planning c. Tax accounting d. Tax managementarrow_forwardExplain the differences between sales taxes and excise taxes. Give an argument in favor of excise taxes. Give an argument against excise taxes.arrow_forward
- What are the pros and cons of the Value Added Tax (VAT)?arrow_forwardDiscuss problems about “Income tax rate is too high” in a country? What solutions can be done to solve it?arrow_forwardSales taxes tend to be regressive, that is why food, medicine are often excluded.a). True b). Falesarrow_forward
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