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FIN623 GDB No. 01 Solution Fall 2015 Due Date Nov 13, 2015

FIN623 - Taxation Management GDB No. 01 Solution Fall 2015 Due Date Nov 13, 2015

Graded Discussion Board

Taxation Management (FIN623)

 

Dear Students!

This is to inform that Graded Discussion Board (GDB) No. 01 will be opened on November 12, 2015 for discussion and last date for posting your discussion will be November 16, 2015.

 

 

This Graded Discussion Board will cover Video lessons 01 - 08.

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Please Discuss here about this GDB.Thanks

Our main purpose here discussion not just Solution

We are here with you hands in hands to facilitate your learning and do not appreciate the idea of copying or replicating solutions.

An Overview of Taxation System

Learning Objectives: This activity aims to enable the students to understand different approaches and types of taxation.

Learning Outcomes: After going through this activity, the students would be able to differentiate different types and approaches of taxation and its applicability.

 

Fiscal policy is a discipline that deals with arrangements by government to collect the revenue and pay for the expenditures so that social and economic stability could be attained. Taxes are the major source of revenue for any government and it is a major instrument of fiscal policy as well. There are different types of taxes which are levied by any government in order to increase revenues, e.g. direct taxes and indirect taxes. Whereas, some approaches of taxes are; progressive tax, regressive tax and proportional tax (flat tax). Keeping in mind these different types and approaches of taxation, answer the following:

  1. a.      Differentiate direct tax from indirect tax.                                                             (2 Marks)
  2. b.      “If direct tax is applied on an individual, then indirect tax cannot be applied on the same”. Comment on this statement with appropriate rationale.                                       (2 Marks)
  3. c.       Which approach to taxation is currently applicable in Pakistan? Is that approach appropriate for a developing country like Pakistan? If not, suggest any other suitable approach supporting some appropriate economic rational?                                  (4 Marks)

Important Instructions:

  1. Your discussion must be based on logical facts.
  2. Do not copy or exchange your answer with other students. Two identical / copied comments will be marked Zero (0) and may damage your grade in the course.
  3. Obnoxious or ignoble answer should be strictly avoided.
  4. Questions / queries related to the content of the GDB, which may be posted by the students on MDB or via e-mail, will not be replied till the due date of GDB is over.

Ø For Detailed Instructions please see the GDB Announcement

 

 

  • direct tax will refer to any levy that is both imposed and collected on a specific group of people or organizations. An example of direct taxation would be income taxes that are collected from the people who actually earn their income.
  • Indirect taxes are collected from someone or some organization other than the person or entity that would normally be responsible for the taxes.

A direct tax is one paid directly to the government by the persons (juristic or natural) on whom it is imposed (often accompanied by a tax return filed by the taxpayer). Examples include some income taxes, some corporate taxes, and transfer taxes such as estate (inheritance) tax and gift tax. 

An indirect tax (such as sales tax, value added tax (VAT), or goods and services tax (GST)) is a tax collected by an intermediary (such as a retail store) from the person who bears the ultimate economic burden of the tax (such as the customer)

countries may lack effective governance structures.  Such countries need to develop and implement effective and efficient tax systems if they are to be able to provide for the needs of their people and to participate effectively in the world economy.  Another group of countries may have made substantial progress in meeting development goals.  There countries may still face significant problems in tax policy due to globalization and other factors. Although even the less-developed countries may face fiscal challenges due to heavy dependence on trade taxes, those countries with a developing economy must also cope with potentially troublesome and important problems in the income tax area. While globalization and other factors may lead to further convergence of tax systems, the evidence to date suggests that the size and structure of taxation in most countries will continue to be dominated largely by domestic rather than global factors.

direct tax is one that the taxpayer pays directly to the government. These taxes cannot be shifted to any other person or group. An indirect tax is one that can be passed on-or shifted-to another person or group by the person or business that owes it.

asif bhai second question ka kya answer hy??????

anyone here???

An Overview of Taxation System

Learning Objectives: This activity aims to enable the students to understand different approaches and types of taxation.

Learning Outcomes: After going through this activity, the students would be able to differentiate different types and approaches of taxation and its applicability.

 

Fiscal policy is a discipline that deals with arrangements by government to collect the revenue and pay for the expenditures so that social and economic stability could be attained. Taxes are the major source of revenue for any government and it is a major instrument of fiscal policy as well. There are different types of taxes which are levied by any government in order to increase revenues, e.g. direct taxes and indirect taxes. Whereas, some approaches of taxes are; progressive tax, regressive tax and proportional tax (flat tax). Keeping in mind these different types and approaches of taxation, answer the following:

  1. a.      Differentiate direct tax from indirect tax.                                                             (2 Marks)
  2. b.      “If direct tax is applied on an individual, then indirect tax cannot be applied on the same”. Comment on this statement with appropriate rationale.                                       (2 Marks)
  3. c.       Which approach to taxation is currently applicable in Pakistan? Is that approach appropriate for a developing country like Pakistan? If not, suggest any other suitable approach supporting some appropriate economic rational?                                  (4 Marks)

Important Instructions:

  1. Your discussion must be based on logical facts.
  2. Do not copy or exchange your answer with other students. Two identical / copied comments will be marked Zero (0) and may damage your grade in the course.
  3. Obnoxious or ignoble answer should be strictly avoided.
  4. Questions / queries related to the content of the GDB, which may be posted by the students on MDB or via e-mail, will not be replied till the due date of GDB is over.

Ø For Detailed Instructions please see the GDB Announcement

Not much differ from the indirect tax direct tax revenues because both of any government so it should be beneficial to our economic stability and social areas "is why it is very important to achieve generated

Dear Students Don’t wait for solution post your problems here and discuss ... after discussion a perfect solution will come in a result. So, Start it now, replies here give your comments according to your knowledge and understandings....

FIN623 - Taxation Management Quiz # 01 please past you Quize Here

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