Sunday, December 29, 2019

Suicide Is A Bigger Problem - 1109 Words

Suicide is going to claim more lives than any of us realize. As the people of America, we have very little knowledge of what suicide is doing. Suicide has turned into a bigger problem than anyone understands by claiming a higher percentage than any other reason for death in the US. It also has claimed an area of the country to host itself and is using the internet to ruin people’s lives. Suicide is a larger problem than other forms of death such as homicides and car crashes. In 2009, Suicide was recorded as the top killer of humans in America. Suicide death rates have increased 15% between 2000 and 2009. When suicide is compared to car crashes, the second highest killer in the US, and homicide cases, ranked the fifth highest killer,†¦show more content†¦For the age group of 25 to 44 year olds, homicide rates were about half of the number of suicide cases. Suicide is such a serious problem that it is doubling the rates of homicide. One of the biggest causes of suicide is the lack of social connections people need. In the west, this is obvious because of the lack of people. Sociologist Matt Wray, of the University of Nevada, Las Vegas, told Freakonomics Radio, â€Å"The Intermountain West is a place that is disproportionately populated by middle-aged white men, single, unattached, often unemployed, with access to guns.† This area of the United States is composed of Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, and Wyoming. This region is also referred to as the â€Å"Suicide Belt.† Suicide is growing to hold a ‘host spot’ where it can claim as many lives as it wants. A place like this proves the CDC’s data when they said suicide rates were highest for 45 to 54 year olds or â€Å"middle-aged† people. The western area of the United States has less people and the people that are there tend to not stay long causing a fluctuation in population. Populatio n fluctuation, in turn, causes suicide rates to increase. The people that do stay experience individualism and loneliness. The 45-54 year olds that do take residency in the west are more likely to commit suicide because there are not all that many people in the western states compared to the east and other regions. The west has held a high suicide

Friday, December 20, 2019

Is Internet Art really a movement - 1138 Words

Over the years artists have generally been influenced by the developments in technologies of their era. Through impressionism, we had Monet who saw realistic paintings as redundant after the invention of photography. Instead, Monet focused on capturing how light and shadows affect our impression on a subject. By 1916, Picasso had taken this further and depicted all sides and shapes of reality at once with Cubism. It was technologies of The Industrial Revolution that handed Picasso and other artists their new found freedom and inspiration. Their art was reflected by the attention and understanding they had to the evolving change in times. Since then, technology has changed drastically and artists are constantly using this to their†¦show more content†¦The main goal of the virus was to just survive so overall was pretty harmless. Unfortunately not everyone felt this way and the piece was criticised by many, including Jason Catlett who said â€Å"If a thief leaves a note sayi ng he’s sorry, do we feel better? No.† The president of an anti-spam group who has testified before Congress on Internet privacy issues then went on to say, â€Å"Doing things that are socially undesirable in the name of art does not redeem the act†. Nonetheless, the piece was supported by some such as Lisa Jevbratt, teacher of media art at San Jose State University who expressed the following: â€Å"To talk about contemporary culture, you have to be able to use all kinds of expressions of contemporary culture, so a virus can be considered a legitimate art form.† (Reena Jana, 2001)) Not only was the virus to reproduce itself endlessly on computers, it was also intended to multiply itself by â€Å"using the human mind and the media hysteria as its reproductive machinery,† Mattes said. Their aim: to show that a computer virus isn’t just a destructive programme but that its existence and circulation depends on humans (Goran Mijuk, 2009). It even tually had to be destroyed by U.S. antivirus software maker Symantec after it had spread all around the world. Many debate whether the internet art movement is a valid term with a majority of non-believers observing the internet’sShow MoreRelatedAnalysis Of The Book The Big Boat 1091 Words   |  5 PagesThe Big Boat Going to the LACMA art museum was a very good experience to see many different types of artwork by different artists. In 1920 Robert Michel created a painting named â€Å"Ship†, which it contained many visual elements such as cool and warm colors curvilinear geometric figures. First of all, Michel shows the viewer a lot of curvilinear lines meaning a consisting of, bounded by, or characterized by a curved line, or a along a curved line of a set of coordinates determined by or determiningRead MoreContemporary Artists : Art No Authority Can Tell Your Own Body With A Knife1733 Words   |  7 Pagesto street art, to carving writing into your own body with a knife is considered Contemporary Design. In this world of art no authority can tell you what you’re allowed to do. With the definition of art so stretched, it really gives a lot of freedom to those of the contemporary time period to express a wide range of ideas. 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Literature- Existentialism, though it had been present since the 19th century, came of age in the mid-20th Century. This was largely through the scholarly and fictional works of the French existentialists, Jean-Paul Sartre, Albert Camus and Simone de Beauvoir. The heavily influenced post WWII movement spurred up a whole new way of thinking. Sartre made the movement popular in that he defined â€Å"Existentialism†Read MoreMusic Is A Big Part Of My Life1075 Words   |  5 PagesMusic is a big part of my life. There is rarely a day I do not listen to it. Whether I am driving in my car or working out at the gym. I started really paying attention to music when I was younger and took dance classes. I took Jazz, Ballet, and Hip Hop. Each style of dance had dramatically different type of music. I always loved how with music there is so many different layers. One song might mean something to someone and then it could mean something completely different to someone else. When watchingR ead More Internet Censorship Isnt Necessary Essay1283 Words   |  6 PagesInternet Censorship Isnt Necessary    Fear of chaos cannot justify unwarranted censorship of free speech (Quittner). This quotation came from a speech made by Vice President Al Gore, who was addressing the graduating class of 1996 from The Massachusetts Institute of Technology. This quotation expresses his viewpoint on this subject of censorship. Censorship has always been an issue in the world. What exactly is censorship? A censor is one who is authorized to examine books, films, orRead MoreThe Impact Of Art On Our Lives1338 Words   |  6 Pagesvery meaning of being alive on this planet. Art has played a huge role in many developments, with such massive visual influence. It has easily changed, manipulated and persuaded people throughout history, for good and for evil. Art plays an essential role in our everyday and social lives. It’s everywhere we are; in our homes and workplaces, on TV and radio, Plastered all over the Internet, in museums and in galleries. Art defines and reflects our world. Art has always has, and always will trigger changeRead MorePostmodernism And Postmodernism Art And Design Terminology, Meanings, Context And Principles1466 Words   |  6 Pagesand Postmodernism art and design terminology, meaning, context and principles. Modernism and Postmodernism are two art movements that massively contribute to each other’s ideas and principals, however have elements within them that are completely opposite to each other. This questions whether their principles actually help each other and if deep down are in somewhat similar, or whether the two ideas are wholly separate. Modernism is a term to describe the movement of new art, and was most activeRead MoreEssay On Audiobooks And Nature858 Words   |  4 Pageshungry and the first thing we want is to stop and buy one. In this case, taking an environmental point of view to a product that is totally digital is an art. This ad draws me my complete attention. The first thing that you can see is the figure of a whale. Them you can realize that this shape is part of the ring in a cut trunk. The colors are really beautiful. The colors are very warm and natural. The trunk is the most important shape in the image. The information is almost none excepted for two whiteRead MoreComputer Technology And The Military During The Cold War Era1433 Words   |  6 PagesEarly computer art stemmed from an unlikely place and as the computer technology advanced, minimized, and became affordable, the computer turned into the most important invention of the modern age and has been implemented in almost every aspect of human life. Like video art, computer art started small and progressed with the technology and now is a tool used for many digital mediums. The origin of the computer resides with the military. 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Thursday, December 12, 2019

Taxation Law Assessable Busines Income

Question: Describe about the Taxation Law for Assessable Busines Income. Answer: 1. According to the Income Tax Assessment Act sec 6-5, the assessable income or the ordinary income of a resident of Australia is considered to include all concepts that are considered to be ordinary (Australian Government, 2016). Ordinary income will be treated differently depending on whether you are a resident or a non-resident. If you are an Australian resident, your assessable income includes any ordinary income that was derived directly or indirectly from your work or source of production at the income year. The ordinary income of the resident of Australia will be said to be assessable if it includes all the sources of income that accrue to the resident person whether indirectly or directly. The income will be assessed in the country of residence that is Australia irrespective of whether it was gained in the country or oversees that is outside Australia in the income year (Wolters, 2016 p1). In Myer Vs. FCT case, a person who enters in an isolated transaction with an aim of mak ing profit shall be calculated for assessable income. The same notion can be seen in Westfield vs. FCT case. If the individual being assessed for income tax purposes is a non-resident that is he or she lives in Australia at the year of income but he or she is not citizen, the income that will be assessed will be that income that will be derived either indirectly or directly from his or her sources of income in Australia in the income year. In this case, a non-resident individual is a person who lives in Australia but he or she does not have an Australian citizenship or identification card (Australian Government, 2016).They include foreign investors and people who may have relocated to the Australia after some time, and they have not yet gained the full citizenship of the country. Another income that could be treated as an ordinary income is the income that is said to be derived from the citizen of Australia if the amounts accrued from his or her source of income in Australia were transacted on behalf of him and the income is directly attributable to him. In the case of Peta, she purchased the house in Kew. The case study, however, does not state whether Pete was a resident or a non-resident of the country (Australian Government, 2016). The case study further states that the main reason for buying the house is so that she could live there with her family as well as build three units of tennis courts for profit motives (Australian Government, 2016). The selling of the additional units would be treated as ordinary income for tax purposes irrespective of whether Peta is a resident or nonresident since it was realized from the ordinary activities from her source of income. The only difference between whether Peta is a non-resident and a resident is the rates of taxes that will apply. After Peta was offered the opportunity to sell the tennis courts, she was able to change her mind about building additional units for sale. The condition was that the tennis club would purchase the tennis courts only if they were restored into good condition (Australian Taxation office, 2016). The cost incurred for restoring the courts into a good condition would be considered as the cost of repairs and maintenance when preparing the income and expenditure account of Peta. That means that the costs will be deduced from the income that Peta will receive from the sale. Repairs and maintenance expenses are usually deductible for tax purposes because they are treated as capital expenses for an individual or a business. Peta therefore has to record all the expenses incurred (William, 2016, p1). Peta spent $ 100,000 to acquire the house in Kew. However, some amounts that Pet incurred while purchasing the house are disallowable and they should therefore be deducted for the purpose of calculation of taxes (Australian Taxation office, 2016, Pp.352). For instance, the cost of fencing is not an ordinary business activity for Peta and it should therefore be deducted for the purpose of calculation of taxes. This is because the items that are to be deducted are those that will be incurred for business activity that is the sale of the tennis courts and those that are aimed at restoring them in good condition of a place. Therefore, fencing of the tennis courts is not one of them. When calculating the capital gains tax of Peta, the receipt of the $ 600,000 from the sale of the tennis courts should be treated as ordinary income. This is because the income was derived directly from an Australian source. That means that the classification of the income will not matter whether the income w as from a resident or non-resident person. To calculate the capital gains, the expenses incurred while restoring the tennis courts into good condition should be lessed from the income received (Efile.com, 2010, Pp.137). 2. Part A Fringe benefits are those benefits given to an employee by an employer, which are out of the ordinary basic salary (Woellner, Barkoczy, Murphy, Evans, and Pinto, n.d., pp.10-20). According to Publication 15-B of the income tax act, a fringe benefit is a form of pay for the performance of services. For example, the company may allow the employee to use the business vehicle to or from work. Some are tax exempt while others are taxable. Below are the fringe benefit consequences of Allan: Mobile phone- Here, ABC ltd. paid for the mobile bill of Allan worth $ 220 per month. The case study also states that Allan uses this amount for work related purposes only. Since this is an expense out of the ordinary business operations, it will be considered as a fringe benefit for tax purposes. Mobile handset- Allan received a mobile handset from the company worth $ 2,000 inclusive of GST. Since this is a benefit to Allan from the company, it will be considered as a fringe benefit and it will be deducted for tax purposes. However, it states that it is inclusive of GST. This shows that we should first less the GST before calculating the fringe benefit tax. Dinner- ABC Ltd. hosted a dinner party a local Thai restaurant for Allan and his other co-workers. The total cost of the dinner was $ 6,600 inclusive of GST. Since this is a benefit out of the ordinary income or salaries and wages of Allan, then it would be considered as a fringe benefit and it would be deducted for tax purposes. However, the case study states that the cost of the dinner was inclusive of GST. We, therefore, have to less the GST before including the dinner expenses for the computation of fringe benefits. The company also pays for the school fees of Allan worth $ 20,000. The case study of ABC Ltd. states that this school fees is GST free. This implies that Allan will not have to pay for GST for this amount. Since this is a benefit to Allan from the company and it is out of the ordinary business income or salaries and wages for Allan, it would therefore be considered as a fringe benefit and should therefore be deducted for calculation of tax. The case study states that all GST inclusive goods and services are entitled for input tax credits (Commonwealth consolidated acts, 2015, Pp.33).This implies that after paying the GST, the amount paid for GST would be credited back to the bank account of ABC ltd. and later the fringe benefit tax would be calculated. The fringe benefit tax rate that applies for the year 2016 is 49% (Woellner, 2013, Pp.55). Below is the calculation of the fringe benefit taxes of Allan. Part B If the corporation had only five employees, then it would be assumed that the company owed the employees a fiduciary duty or an obligation of providing them with meals (William, 2012, Pp.269). This will form part of the employee expenses in the company and would be reduced from the income of the company. It would also be considered an employee expense since this is a small amount incurred on the meals and therefore it would not qualify for fringe benefits (Australian taxation office, 2016, p1). Below would be the calculation of the fringe benefit tax. Part C If clients of ABC Ltd. attended the dinner for the company, then the cost will be treated as a normal selling and distribution costs (Wolters, 2013, Pp.20-25). This is because during the dinner, the firm can advertise about their services and be able to retain the existing customers and lure potential ones to buy from them (Berube, and Pinto, 2010, Pp.45-50). It will also be treated as an advertising cost because it will be assumed that the dinner is aimed at appreciating the clients of the corporation and ensuring that the customers of the company will retain in the next financial year of the company and attract more potential customers (Australian taxation office, 2016, p1). The fringe benefit tax will therefore be similar to part b above. The only difference will lie when computing the income tax since we expect that the cost for the five employees would be less than when the company invites the clients. References Australian Government. (2016). Reducing your FBT liability. Web. Retrieved on 16th September 2016 from https://www.ato.gov.au/General/Fringe-benefits-tax-(FBT)/Do-you-need-to-pay-FBT-/Reducing-your-FBT-liability/ Australian Government. (2016). What is fringe benefits tax? Web. Retrieved on 16th September 2016 from https://www.ato.gov.au/General/Fringe-benefits-tax-(FBT)/In-detail/Employers-guide/What-is-FBT-/ Australian Government. (2016). How to calculate your FBT. Web. Retrieved on 16th September 2016 from https://www.ato.gov.au/General/Fringe-benefits-tax-(FBT)/How-to-calculate-your-FBT/ Australian Government. (2016). Types of fringe benefit. Web. Retrieved on 16th September 2016. from https://www.ato.gov.au/General/fringe-benefits-tax-(fbt)/types-of-fringe-benefits/ Australian Taxation office. (2016). Tax ruling No. IT 2650. Pp. 352. Retrieved On 16th September 2016 from https://law.ato.gov.au/atolaw/view.htm?docid=ITR/IT2650/NAT/ATO/00001/ Australian taxation office. (2016). ATO interpretative decision. Web. Retrieved on 26th September 2016 from https://law.ato.gov.au/atolaw/view.htm?docid=AID/AID200723/00001/ Commonwealth consolidated acts. (2015). Income tax assessment act 1997- sect 6.5. Pp. 33. Web. Retrieved on 16th September 2016 from https://www.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/s6.5.html/ Efile.com. (2010). How to claim, report tax-deductible home expenses. Pp.137. Retrieved on 16 September 2016 from https://www.efile.com/tax-deduction/income-deduction/home-deductions/ William, C. (2012). Deductions for repairs, maintenance, and capital improvements for businesses. Pp. 269. Retrieved on 16th September 2016 from https://thismatter.com/money/tax/business-deductions-repairs-maintenance-capital-improvements.htm/ Wolters, K. (2013). Residency. Pp. 20-25. Retrieved on 16th September 2016 from https://www.iknow.cch.com.au/topic/tlp703/document/atagUio694796sl24352044/legislation/residency/section-6-10-other-assessable-income-statutory-income/ Berube, W. and Pinto, C. (2010). Taxation, tax policies and income taxes. New York: Nova Science Publishers. Pp. 45-50. Retrieved on 16 September 2016. Woellner, R. (2013). Australian taxation law 2012. North Ryde [N.S.W.]: CCH Australia. Pp. 55. Retrieved on 16 September 2016.

Thursday, December 5, 2019

Tuffstuff Ltd Analysis

Question: Describe the organisational structure that is most likely to be applicable to Tuffstuff Ltd Discuss the utility, as an analytical tool, of a PEST analysis. Prepare a business report for the CEO of Tuffstuff Ltd that analyses the key factors to be considered with regard to Tuffstuffs proposed venture and sets out your recommendation. It is expected that a PEST analysis of Tuffstuffà ¢Ã¢â€š ¬Ã… ¸s proposed venture in Rwanda will form the basis of your report. Answer: Introduction Most of the companies, especially the leading companies throughout the world are gradually becoming interested to expand their business in the international markets for increasing their market share and profit. However, it is difficult to set up a business within an unknown territory, especially when the market environments of such territories are different from their domestic markets (Acar, 2015). Therefore, it is essential for the companies to analyse both internal and external environment (Micro and Macro environment) of the particular business and market or economy. The markets cannot control both Micro and Macro environment factors, but such factors can influence the strategic decisions of the marketers. There are various analytical tools such as Porter's five forces, SWOT and PEST analysis available for assessing the Micro and Macro environment factors (Frynas and Mellahi, 2015). The CEO of Tuffstuff Ltd is expecting less or no competition, but the CEO is expressing concerns re garding the expansion of the business in Africa. The current study concentrates evaluating the importance of SWOT and PEST analysis for justifying whether the CEO of Tuffstuff Ltd is making an appropriate decision by setting up manufacturing and distribution operation in sub-Saharan Africa, in particular, Rwanda. Applicable Organizational Structure to Tuffstuff Ltd Organizational structure has an impact upon the success of a business largely, as the structure implies how the organization is going to perform their business operations. It is essential for the organizations like Tuffstuff Ltd to select the most effective organizational structure, especially when such organizations are going to implement their business into an unknown territory (Gustafsson and Wikner, 2015). Geographical organizational structure and Matrix organizational structure are two effective organizational structures Organizational Structure is most likely to be applicable to Tuffstuff Ltd. There are various benefits of the Geographical organizational structure of Tuffstuff Ltd. The management of Tuffstuff Ltd should consider creating a separate geographical division for developing manufacturing and distribution operation in sub-Saharan Africa, in particular Rwanda. However, the division will also be responsible for reporting directly to their head office. The objectives of all the employees and staffs of that particular division will be same as the objectives the division. The managers of Tuffstuff Ltd should lead the division from the top of a chain of command. The company should also consider hiring the local people (Rasheed et al. 2015). Definitions (Organisational SWOT and PEST) PEST Analysis PEST analysis or PESTLE analysis is essential for analysing the macro-environment factors, which include Political (P), Economical (E), Socio-Cultural (S), Technological (T), Legal (L) and Environmental (E) factors. Controlling such factors is beyond the ability of the businesses, but they can make effective decisions based on those factors (Shah et al. 2015). Political Political factors can influence the decisions of the government of an economy. Due to political factor, the government may become convinced to implement particular policies regarding tax policies, Fiscal policy, trade tariffs etc. Such policies may largely affect the business environment (economic environment) (Shabanova et al. 2015). Economical Economical factors are the determinants for influencing the performance of an economy. The economic performance of an economy has an impact upon the performance of a business from the long-term perspectives. For instance, changes in inflation may affect the decisions of the businesses regarding their method of pricing their products and services. On the other hand, economic factors may also have impacts upon the demand and supply model in terms on purchasing power of a consumer (Snieskiene, 2015). The inflation rate, interest rates, foreign exchange rates, economic growth patterns etc are the key examples of economic factors. The policies of the governments regarding FDI (foreign direct investment) are also significant parts of the economic factors. Socio-Cultural Socio-cultural factors are one of the key macro-environment factors, especially in todays business world of globalization. The key determinants of socio-cultural environment include demographics, cultural trends, population analytics etc. Such factors may also include cultural influences (Haron, 2015). Technological Technological factors imply the extent to which innovations and advancements in technology may affect the operations of the industry and the businesses. Research and Development (RD), automation, technological awareness etc can also influence or make an impact upon the performance of a business (Schneider, 2015). Utility of PEST Analysis PEST analysis is one of the most simplistic and easy-to-use analytical frameworks for industry/market/business analysis for making appropriate and effective strategic decisions (Haron, 2015). PEST analysis includes cross-functional expertise and skills. PEST analysis largely helps to identify and to minimise the potential impact and effects of possible threats of an organization (Shabanova et al. 2015). PEST analysis encourages developing strategic thinking within an organization. PEST analysis is one of the most effective mechanism or analytical tools help to identify and to exploit new opportunities (Jeschke, 2015). PEST analysis largely helps to evaluate implication of entering new markets both nationally and internationally. Limitations of PEST Analysis Most of the external factors are dynamic and change rapidly. Therefore, it is essential for the organizations to conduct such process continuously to obtain an effective outcome. However, very few organizations have the financial capability to continue investing towards such process (Fragouli and Yankson, 2015). Businesses have the ability to generalise the information, which is essential for making information (Shah et al. 2015). An organization may consider rejecting a project in case the organization is getting enough negative feedback from too much information. However, the key purpose of PEST analysis is to identify the issues for making necessary decisions resolve such issues (Haron, 2015). Due to time and cost considerations, it is possible that an organization frequently restricts who is involved. Such situation affects the technique's effectiveness, as it may overlook the key perspectives (Schneider, 2015). Most of the businesses cannot manage to access adequate quality external information due to limited time and costs (Acar, 2015). It is subjective to make any strategic decision based on the assumptions. SWOT Analysis SWOT analysis is one of the effective analytical methods, widely used for evaluating the strengths, weaknesses, opportunities and threats of an organization. Strengths and weaknesses indicate mostly the internal factors while opportunities and threats imply external factors. SWOT analysis not only helps to assess the current position of the business, but it also helps to make effective strategic decisions. The companies should concentrate using their strengths to utilise their opportunities and to avoid strengths. In addition, the companies also have the ability to overcome their weaknesses by utilising their opportunities. Following is the example structure of SWOT analysis (Frynas and Mellahi, 2015). INTERNAL STRENGTHS WEAKNESSES Things an organization is good at Knowledge and Experience Creative and Unique characteristics Resources Geographical territory Core Capabilities and Competencies Reputation and Quality Pricing, Distribution, Flexibility on Product or Service Things an organization should improvise Skills and Knowledge Gaps Financial Issues Reputation and Market Awareness Management and Leadership Issues Staff Involvement and Motivation Poor location EXTERNAL OPPORTUNITIES THREATS Expanding Business in New Markets Acquisitions and Strategic Alliances Business and Product or Service Diversity Utilising new analytical tools such as PESTLE New Product Development Minimising Costs Innovation and technology Development RD Environment Changes (PESTLE) Losing business and existing Loyal Customers Increase in costs of Raw Material, Energy and Transportation Costs Increasing Market Competition New Product Development and Innovation by the competitors Technological Changes Seasonality Table 1: SWOT Analysis (Source: SniekienÄ—, 2015) Most importantly, as SWOT helps to give adequate information regarding the weaknesses, the companies have the opportunity to work upon their weaknesses to avoid any possible threats. Relationship between PEST and SWOT Analyses SWOT analysis implies the strengths, weaknesses, opportunities and threats of a business plan while PEST analysis examines the external political, economic, social, technological factors surrounding the macro-environment of the business. However, both tools are essential for making effective strategic decisions (Gustafsson and Wikner, 2015). PEST analysis largely helps to evaluate the components of the SWOT analysis. PEST analysis tends to broader perspectives while SWOT analysis is much focused and narrower (Jeschke, 2015). PEST analysis is relevant for analysing complex business issues and such process cannot consider analysing the internal factors of a business unlike the SWOT analysis (Shabanova et al. 2015). Report of Tuffstuff Ltd in analysing key factors on the proposed venture It is seen in the major business areas that bring proposed venture considered on Tuffstuff. The researcher has signed a treaty to gain the market share of companies in entering to Africa. A major quote says, Future lies on the common lines of business positions on Africa. A comparative review has been laid through major decisions where people find working age and the total population in the developmental area (Briggs, 2011). The main purpose of the topic is evident to check the business solutions to enter Africa in gaining the market through PEST analysis. Working as CEO of Tuffstuff Ltd has a good base of the operations of UK and Continental Europe to manufacture cement. However, it is actively considered in setting manufacturing and distribution process in Sub-Saharan Africa in major parts of Rwanda. The company also has a distribution policy that makes the competition even in making market competition high on Parts of Africa (Miyajima, Mohanty and Chan, 2012). Thus, working as a c onsultant that provides major firms and business readily accepts territories on the proposed investment policies. However, the support will regard in studying PEST analysis of Tuffstuff in making market through PEST analysis of Cement Company. However, this section introduces an idea that can be entertained on the business principles of performing a SWOT analysis of the company (Mulligan, 2012). Working as a Consultant in a firm that provides business solutions in development is approached by the CEO of Tuffstuff Ltd to operate the activities performed in Africa. Since, Tuffstuff Ltd enters major parts of Africa particularly in the areas of Rwanda to increase the market growth to form stability, but CEO has replied to the event that applying PEST analysis would not help to increase the market distribution on major scales. Thus, the main reflection on this topic suggests variable factors that are applying PEST analysis will determine good ability to cope with market share. Africa has been holding a political and legal environment, which stabilizes major events to make the country developed (Pimenta da Gama, 2011). However, there may be factors that evolve changes in the trade regulations and tariffs in business. The legal enforcement would simplify the working perspective, which will increase regulations of the market to stabilize good effects. The CEO of Tuffstuff Ltd has ev aluated key factors that are: The inflation rate is increasing the trend of business that can form gradual reduction. Here, the inflation targeting policies will govern an initiative on the targeting policies. The growth rate has made competition to increase prices on the financial economy. The social environment has made political factors stable on the increase in population and demographics (Saren, 2011). The consultant will motivate employees through a good sequence in making the competitive market of Africa even. PEST analysis will be performed through business ideas through Political, Economic, Social and Technological environment in analysing the perspectives of major opportunities (Srivastava, 2011). Since, Tuffstuff Ltd trade cement to major parts of UK and Europe, but now it wants to join hands with Africa. The market position would be sustainable if PEST analysis will support terms on operations of Sub-Saharan Africa in Rwanda. The information evolved on the personal ideas in making the assumptions clear, and contrast develops through a business approach in Africa (Teglio, 2012). Political factors would underline Africas current policies in holding good interest on market growth. The consultant would improvise changes through government and regional policies in making it effective (Briggs, 2011). There are other contenders, which empower sustainable positions right for making business policies ideal. However, they would review change perspective on a business policy that Tuffstuff Ltd develops in making a good reflection on market share. The treaty would assume major changes that make Tuffstuff Ltd to make a proper evaluation of rights and regulations in making market developed through legislation and taxation (Mulligan, 2012). The planning perspective would analyze business through an approach in launching distribution of cement through corporate policies, social responsibilities, environmental issues and customer protection rights in Rwanda. Economic factors also stabilize on the current economy to see how Tuffstuff Ltd Company makes market gain through growth, stability and declination. The consultant would see if major changes from significant positions on the customer levels to become disposable if income is falling apart (Chang, 2011). It is also seen if unemployment rate would be easy to build a workforce. Then it would be hard to sustain a good position in the business module. However, globalization has a great effect in holding economic barriers of Africa in making production good as done in UK and Europe. The Socio-Cultural factors have made the trend of market growth to increase population on the age of the individual relatively in major parts of Africa. Bringing newer changes on Africa has favored increasing societys level of education, health and social mobility. The employment patterns will reflect change perspective to show trends and attitudes in building good stability in holding market success (Hoballah and Erlich, 2012). Thus, population change will increase these factors on religious beliefs and lifestyles in Rwanda to hold good market share. Technological factors also have a great impact to see whether the change would reflect Tuffstuff Ltd to increase market distribution and growth in Rwanda. Since in the present market, technology holds a greater area. Thus, this strategy would avail major resources to access new technologies in redefining Tuffstuff product through government policies and educational institutions (Miyajima, Mohanty and Chan, 2012). However, infrastructural changes also balance technology to hold the good structure in the market in Rwanda. The researcher has made an effect to overcome ideas by taking PEST analysis on going to perform SWOT analysis. The CEO has evaluated major changes that could be ideal to sustain good effect in the market in performing SWOT analysis through the converging ideas in making it a perfect solution. Through a proposed venture, an explanation would reflect on the policies that make the assessment criteria evolved through the market structure of Tuffstuff Ltd in entering African market (Pimenta da Gama, 2011). Strengths would evolve good ideas that could make advantages of Tuffstuff Ltd better in Rwanda. This will lower costs for major resources that drive strategic market through Unique selling proposition (Saren, 2011). Looking among the competitors of Cement Company, Tuffstuff may provide high quality products in making the market gain effective in major areas of Rwanda in assessing the economic factors of PEST analysis. There may be major weaknesses in determining the companys areas that how it can be improved (Wenzel, 2012). The CEO of Tuffstuff Ltd has applied changes in making the market growth effective. However, through Socio-economic factors of PEST analysis, people may find good areas in making market gain developed. Competitors may form realistic and unpleasant here. Opportunities also have a good impact on the interesting trends in making market effective. This would be compact on major areas of Rwanda to apply social trends, increase in population, lifestyle changes. Thus, this research focuses on the local events as revised by the CEO of Tuffstuff Ltd to make local events an interesting perspective on technological areas of PEST analysis (Teglio, 2012). Threats would form a major obstacle among the competitors of Tuffstuff Ltd in making the market even through development procedures. There are major specifications that enhance services offered on products and services that are changing effectively (Mulligan, 2012). Hence, political factors can hold good stability on the competitive market on the major threats in Rwanda. Recommendations In this topic, the market has evolved a greater area in holding stability through profitability areas in development and succession. This would increase changes made through technological influence and good infrastructural facilities of Tuffstuff Ltd in Africa. Since, Tuffstuff Ltd has made a growing market in areas of UK and continental Europe. Therefore, to reflect new changes in the governmental procedures of cement industry in the business environment would increase market share in Africa. Thus, the researcher has taken ideas in giving necessary recommendations of Tuffstuff Ltd through sustainability, technology, infrastructure and rise of corporate social responsibility. Rise of Technology Technology has made a great impact on the African countries to make specifications through development in trading with these companies. Since, these companies have great technological influence. Thus, Tuffstuff can increase their market growth higher in Africa through various innovative ideas among the common people in future. Infrastructural facilities Since, Africa is an underdeveloped continent its major parts can be developed through good infrastructural techniques. Tuffstuff can do this through increasing cement on building blocks in major parts of Rwanda. Maintaining Environmental Sustainability The management of Tuffstuff Ltd should consider maintaining environmental sustainability to enhance their reputation and to develop the effective relationship with the African government and the community. Such commitment will also help the company to gain long-term sustainable growth. Better Communication with the African Government and the Community The Company should frequently communicate and collaborate with the local government and the community to obtain their support, which is essential for their business. The management should also consider hiring people from the local community to increase their CSR reputation. The management should also contribute financially to the well-being of the local community. Offering free education and medical treatment to the local people are the most popular contributions that the management of Tuffstuff Ltd may widely consider. Conclusion The idea performed in this research will help to assess various knowledge and skills performed in the business environment. This would change prolific ideas entertained on Tuffstuff Ltd to enter African market. In this research, the researcher has taken various concepts to perform strategic idea on organisational behaviour in making market distribution higher. The researcher has also outlined a strategy to perform SWOT and PEST analysis through objectives made in giving a specific proposition. Hence, the research concludes that through various factors as evolved by the CEO of Tuffstuff to make a good territory in Rwanda will help to stabilize market intensity higher. Reference List Acar, A., (2015). .Strategic Foresight in an Unstable Economic Environment. Marketing Intelligence Planning Briggs, M. (2011). Pegasus Town: innovative marketing of a new property venture. Marketing Intelligence Planning, 29(6), pp.602-610. Chang, J. (2011). Conceptualising the value of web content in marketing research. Marketing Intelligence Planning, 29(7), pp.687-696. Fragouli, E. and Yankson, J.K., (2015). . The role of strategic planning on the management of organizational change. Frynas, J.G. and Mellahi, K., (2015). .Global strategic management. Oxford University Press. Gustafsson, L. and Wikner, M., (2015). . The Sustainable Market ModelStrategic Market Analysis Emphasizing Sustainability and Growth. Haron, A., (2015). . Comparing Strategic Concepts, A New Strategic Mindset and Coping with an Ever-Growing Toolbox.J Mass Communicat Journalism,5(254), p.2. Haron, A.J., (2015). . Tools to Use in the Analysis of Potential New Market Expansion.J Entrepren Organiz Manag,4(126), p.2. Hoballah, A. and Erlich, I. (2012). Online market-based rescheduling strategy to enhance power system stability. IET Gener. Transm. Distrib., 6(1), p.30. Jeschke, B.G., (2015). Managing Assets in a Complex Environment: An Innovative Approach to Sustainable Decision-Making. InResponsible Investment Banking(pp. 641-657). Springer International Publishing. Miyajima, K., Mohanty, M. and Chan, T. (2012). Emerging market local currency bonds. Basel: Bank for International Settlements, Monetary and Economic Dept. Mulligan, C. (2012). The redistribution recession. New York: Oxford University Press. Pimenta da Gama, A. (2011). An expanded model of marketing performance. Marketing Intelligence Planning, 29(7), pp.643-661. Rasheed, S., Wang, C., Yaqub, F. and Memon, S., (2015). . Risk leveling in business environments-A novel approach for macro risk management.Journal of Industrial Engineering and Management,8(3), pp.738-762. Saren, M. (2011). Marketing empowerment and exclusion in the information age. Marketing Intelligence Planning, 29(1), pp.39-48. Schneider, T., (2015). . Development of Market Entry Strategies: An Initial Blueprint for Consulting Processes. Shabanova, L.B., Ismagilova, G.N., Salimov, L.N. and Akhmadeev, M.G., (2015). . PEST-Analysis and SWOT-Analysis as the Most Important Tools to Strengthen the Competitive Advantages of Commercial Enterprises.Mediterranean Journal of Social Sciences,6(3), p.705. Shah, S.T.H., Jamil, R.A. and Shah, T.A., (2015). . Critical Exploration of Prescriptive and Emergent approaches to Strategic management: A review paper.Business and Management,7(3). SniekienÄ—, G., (2015). . Evaluation of the effect of factors of external environment on the strategy of export pricing.ECONOMICS AND MANAGEMENT, (14), pp.968-975. Srivastava, R. (2011). Understanding brand identity confusion. Marketing Intelligence Planning, 29(4), pp.340-352. Teglio, A. (2012). Managing market complexity. Berlin: Springer. Wenzel, A. (2012). The entrepreneur's guide to market research. Santa Barbara, Calif.: Praeger.

Thursday, November 28, 2019

Taxation in the Philippines Essay Example

Taxation in the Philippines Essay The laws governing taxation in the Philippines are contained within the National Internal Revenue Code. This code underwent substantial revision with passage of the Tax Reform Act of 1997. This law took effect on January 1, 1998. Taxation is   administered   through the Bureau of Internal Revenue which comes under the Department of Finance. The chief executive of the Bureau of Internal Revenue is the  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Commissioner who has exclusive and original jurisdiction to interpret the provisions of the code and other tax laws.Read also The Philippine Peso Us Dollar Exchange RateThe commissioner also has the powers to decide disputed assessments, grant refunds of taxes, fees and other charges and penalties, modify payment of any internal revenue tax and abate or cancel a tax liability. Taxpayers can appeal decisions by the Commissioner directly to the Court of Tax Appeals. II. Primary tax incentivesA. Tax holidayThe Omnibus Investments Code grants to enterp rises that have registered with the Board of Investments and that qualify under the annual Investments Priority Plan   entitlements to tax holidays of either four or six years.In addition, they are granted tax credits for purchase of Philippine-made capital equipment and raw materials. B. Special Economic ZonesThere are over thirty special economic zones throughout the Philippines where export manufacturing firms are encouraged to start operations. Under the Philippine Export Zone Authority Law, a special economic zone registered enterprise can, in lieu of all other national and local taxes, pay a tax of 5% of its gross income.A firm that has registered under the Omnibus Investments Code that is located and registered to do business within a special economic zone can have a tax holiday for the first four or six years of its operations, followed by   a 5% tax thereafter. The exemption from national taxes covers all internal revenue taxes, including the Value Added Tax. III. Tax t reaty with the United StatesThe Philippines has tax treaties with many countries, including the United States, in order to minimize the effects of double taxation.The business profits of a resident of another country with whom the Philippines has a tax treaty   are taxable in the Philippines only if the resident has a permanent establishment in the Philippines to which the profits are attributable. IV. Primary types of taxationA. Individual Income TaxResidents engaged in trade or business are taxed upon their net income (gross income less allowable deductions and personal exemptions) according to a schedule of rates ranging from 3% to 33%.The maximum rate will be reduced to 32% on January 1, 2000. Residency tests are used to determine resident alien status where the resident alien falls under the Individual Income Tax schedule of rates. B. Passive income1. Interest  A ‘final’ tax of 20% is imposed on interest income. This tax is withheld at the source. Exceptions to this are:i. Interest income from a depositary bank with a Foreign Currency Deposit Unit is subject to a final tax rate of 7. 5%. ii. Philippine long term investments of over five years are exempt from tax. 2.DividendsA final tax of 10% is imposed on cash or property dividends from domestic corporations, joint stock companies, insurance or mutual funds, or regional operating headquarters of multinational corporations. The distributable net income, after tax, of a partnership is subject to the same final tax as dividends. 3. Capital gainsThe tax code imposes a final tax of 5% on net capital gains from the sale of stock in a domestic corporation up to 100,000 pesos. The tax is 10% for any income over 100,000 pesos. If the stock is stock exchange listed, a transfer tax of 0. 5% is also imposed. . Fringe benefitsFringe benefits, such as housing, expense accounts, vehicles, household personnel, membership fees and educational fees are taxable under the fringe benefits tax and are payable by the employer, who is responsible for withholding it and remitting it to the government. The fringe benefits tax is 33% (going to 32% on January 1, 2000) of the grossed-up monetary value of the fringe benefits given to the employee. C. Corporation taxResident foreign corporations engaged in trade or business in the Philippines are taxed at the same rates as domestic corporations.The corporation income tax rate is currently 30%. Effective January 1, 2000, the tax code includes an option for corporations to be taxed at a rate of 15% of gross income if the President of the Philippines chooses to enact this option. If the option is granted by the President, only firms whose proportion of the cost of sales or receipts from all sources does not exceed 55% may exercise the option. This method of taxation, once elected, shall be irrevocable for three consecutive years. Under the Tax Reform Act, the Philippines has also established a Minimum Corporate Income Tax.Subsequent to the fourth t axable year after a corporation has started its business, a minimum corporate income tax of 2% of the gross income is imposed if this amount is greater than the regularly computed tax. This amount can be carried forward and credited against the normal income tax for the three immediately succeeding taxable years. D. Value Added Tax (VAT)The VAT is equivalent to 12% of the gross selling price or gross value in money of goods or properties sold, bartered or exchanged. Any excise tax on these goods is also part of the gross selling price.In the case of imported goods, VAT is based on the total value of the goods as determined by the Bureau of Customs plus customs duties, excise taxes and incidental charges. The VAT is an indirect tax. While the obligation to collect and remit rests with the seller, the cost of the tax may be passed on to the buyer, transferee or lessee of the goods, properties or services. A VAT registered entity may credit the VAT paid on purchases of other goods and services against the tax on its current period sales of goods or services.If the amount of input tax is greater than the amount of output tax, the excess may be credited against succeeding period output VAT. VAT registered entities are required to issue an invoice or receipt for every sale and, in addition to regularly required accounting records, they must maintain subsidiary sales and purchase journals exclusively for VAT purposes. VAT reports must be submitted on a quarterly basis, twenty-five days after the end of the quarter. VAT payments must be made on a monthly basis. V. Other taxesPercentage tax (primarily for non-VAT registered entitiesExcise tax Documentary stamp taxEstate and donor’s (gift) tax  | Taxes|    Other Taxes|   | |   Corporate Taxpayers1. Domestic corporations are taxed at 30% of annual taxable income from worldwide sources with option for 15% tax on gross income subject to certain conditions. Domestic corporations are those established under th e laws of the Philippines and include  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   foreign-owned corporations, otherwise known as subsidiaries. 2. A foreign corporation, whether engaged or not in trade or business in the Philippines, is taxable on Philippine-sourced income at the same rates as domestic corporations.Such foreign corporation engaged in trade or business in the Philippines (also called resident foreign corporation) is taxed based on net income with the same option to pay 15% tax on gross income. On the other hand, a foreign corporation not engaged in business or trade in the Philippines (also known as a nonresident foreign corporation) is taxed based on gross income received. 3. Profits remitted by a branch of a foreign corporation to its home office are taxed at the rate of 15%. However, this tax does not apply to a Philippine branch registered with PEZA.Dividends declared by a domestic corporation to its foreign parent are generally taxed at 30%. However, if the home country of the recipient corporation allows an additional credit of 17% as tax deemed paid in the Philippines, the tax is reduced to 15%. Dividends remitted to countries that do not impose a tax on offshore dividends qualify for this rate. Under the Philippine tax treaties with Netherlands, Japan, Germany, Korea and Austria, a preferential tax of 10% on branch profit remittances is granted.Furthermore, under the tax treaties with these countries, dividends paid are subject to 10% tax if the payor-subsidiary is registered with the BOI or if the beneficial owner of the dividends is a company which holds a certain percentage of the capital of the payor subsidiary. Otherwise, the tax on dividends is 15%. 4. All corporations, whether domestic or foreign, are subject to capital gains tax on the sale of shares of stock, in the same manner as individual taxpayers. Other income items such as interest and royalties are taxed at various rates.Dividends received by a domestic or resident foreign corpor ation from a domestic corporation are exempt from tax. A minimum corporate income tax of 2% of the gross income as of the end of the taxable year is imposed on a corporation which is subject to normal income tax of 30% beginning on the fourth taxable year immediately following the year in which such corporation was registered with the Bureau of Internal Revenue, when the minimum income tax is greater than the normal income tax for the taxable year. 5.Any excess of the minimum corporate income tax over the normal income tax as computed shall be carried forward and credited against the normal income tax for the three immediately succeeding taxable years. Every corporation formed or availed for the purpose of avoiding the income tax with respect to its shareholders or the shareholders of any other corporation by permitting earnings and profits to accumulate instead of being divided or distributed, is taxed at the rate of 10% for each taxable year on the improperly accumulated taxable i ncome. . In general, an employer (individual or corporation) shall pay a final tax of 30% on the grossed-up monetary value of fringe benefit furnished or granted to the employee (except rank and file) unless the fringe benefit is required by nature of, or necessary to the trade, business or profession of the employer. Local tax on certain businesses1. Manufacturers, wholesalers, exporters and contractors are subject to graduated taxes on certain amounts of sales/gross receipts and percentage taxes at maximum rates ranging from . 75% to . 75% on the amounts not subject to graduated taxes, depending on the place where business is conducted. For essential commodities, the rates are 50% lower. Retailers are subject to 2% tax if their gross receipts are PhP400,000 or less and to 1% tax if in excess of PhP400,000. 2. Banks and other financial institutions- percentage tax at maximum rates ranging from . 50% to . 75% depending on the locality of the business. 3.Others varying rates  Ã‚     Ã‚  Ã‚  Ã‚     Ã‚   Aside from the above business taxes, there are other taxes  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   levied in the Philippines such as:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   a. Real estate tax b. Stamp tax on certain documents, instruments and related   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   transactions such as issuance of shares of stock, evidence  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   of   indebtedness, transfer of real property, lease contracts,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   insurance policies, etc.. c. Community tax d. Overseas communications tax  National Taxes  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   VALUE ADDED TAX1.Twelve percent (12%) VAT is imposed on importation of goods and sale, barter, exchange or lease of goods, properties and services in the Philippines, subject to certain exceptions. Goods or properties mean all tangible and intangib le objects, including real property, patents, trademarks and similar rights and movable and personal goods. Services cover performance of all kinds of services in the Philippines for a fee. Exports are generally subject to 0% VAT.VAT exempt goods include such items as books, fertilizers, livestock and poultry feeds  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   and agricultural and marine food products in their original state. 2. Gross receipts tax on certain businesses:. a. Bank and other non-bank financial intermediaries  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   0% to 5%   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   b. Life insurance companies  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   5%   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   c. Common passenger carriers  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚      3%   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   d. Electric, gas and water utilities  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     2%   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   e. Oth ers  ranging from 3% to 30% 3.Excise tax on alcohol, tobacco, petroleum and mineral products, cinematographic films, automobiles, jewelry, etc. at varying rates. Individual Taxpayers1. Taxable income from employment, business, trade and exercise of profession including casual gains, profits, and prizes of PhP10,000 or less; except items of income subject to final tax and special treatment, e. g. capital gains and passive income mentioned in items 4 and 5 below, derived by resident citizens from all sources within and without the Philippines are subject to the graduated tax rates of 5% to 32%.The top rate of 32% applies to taxable income in excess of PhP500,000. Resident aliens and non-resident citizens are subject to the same graduated tax rates but only for income derived from all sources within the Philippines. 2. Non-resident aliens are taxed at 25% of gross income from sources within the Philippines if their stay within the country does not exceed 180 days in the calendar year . Otherwise, they are taxed on the basis of graduated rates as in (1) above. 3.Aliens who are employed by regional or area or regional operating headquarters of multinational corporations, representative offices, offshore banking units, petroleum service contractors and subcontractors are subject to income tax at 15% of their gross income from such employers (e. g. salaries, annuities, honoraria and allowances). 4. Net capital gains realized during each taxable year from the sales of shares of domestic stocks not traded in the Philippine Stock Exchange (PSE) are taxed at the rate of 5% on the first PhP100,000 gains and 10% on the excess over PhP100,000.For domestic shares listed and traded in the PSE, the tax is 1/2 of 1% of the gross selling price or gross value in money of the shares of stock sold. Likewise, there is a tax on shares of stock sold, exchanged or otherwise disposed through initial public offering at the rates of 1%, 2% and 4%, depending on the proportion of the share s sold, exchanged or otherwise disposed to the total outstanding shares after listing of the shares of closely held corporations. Capital gains on sale of real property are taxed at 6% of gross selling rice or fair market value, whichever is higher. 5. Passive income items like interest, dividends, royalties, prizes and other winnings are also taxed at different rates. For instance, dividends received by citizens and residents from a domestic corporation and the share of an individual partner in a taxable partnership are taxed at 10%. However, the tax on such dividends shall apply only on income earned on or after January 1, 1998. If the dividends are paid to  Ã‚  Ã‚  Ã‚   non-residents, the tax is 20% for those engaged in trade or business and 25% for the others. | |

Sunday, November 24, 2019

Laissez-faire Versus Government Intervention

Laissez-faire Versus Government Intervention Historically, the U.S. government policy toward business was summed up by the French term laissez-faire leave it alone. The concept came from the economic theories of Adam Smith, the 18th-century Scot whose writings greatly influenced the growth of American capitalism. Smith believed that private interests should have a free rein. As long as markets were free and competitive, he said, the actions of private individuals, motivated by self-interest, would work together for the greater good of society. Smith did favor some forms of government intervention, mainly to establish the ground rules for free enterprise. But it was his advocacy of laissez-faire practices that earned him favor in America, a country built on faith in the individual and distrust of authority. Laissez-faire practices have not prevented private interests from turning to the government for help on numerous occasions, however. Railroad companies accepted grants of land and public subsidies in the 19th century. Industries facing strong competition from abroad have long appealed for protections through trade policy. American agriculture, almost totally in private hands, has benefited from government assistance. Many other industries also have sought and received aid ranging from tax breaks to outright subsidies from the government. Government regulation of private industry can be divided into two categories economic regulation and social regulation. Economic regulation seeks, primarily, to control prices. Designed in theory to protect consumers and certain companies (usually small businesses) from more powerful companies, it often is justified on the grounds that fully competitive market conditions do not exist and therefore cannot provide such protections themselves. In many cases, however, economic regulations were developed to protect companies from what they described as destructive competition with each other. Social regulation, on the other hand, promotes objectives that are not economic such as safer workplaces or a cleaner environment. Social regulations seek to discourage or prohibit harmful corporate behavior or to encourage behavior deemed socially desirable. The government controls smokestack emissions from factories, for instance, and it provides tax breaks to companies that offer their employees health and retirement benefits that meet certain standards. American history has seen the pendulum swing repeatedly between laissez-faire principles and demands for government regulation of both types. For the last 25 years, liberals and conservatives alike have sought to reduce or eliminate some categories of economic regulation, agreeing that the regulations wrongly protected companies from competition at the expense of consumers. Political leaders have had much sharper differences over social regulation, however. Liberals have been much more likely to favor government intervention that promotes a variety of non-economic objectives, while conservatives have been more likely to see it as an intrusion that makes businesses less competitive and less efficient. - Next Article: Growth of Government Intervention in the Economy This article is adapted from the book Outline of the U.S. Economy by Conte and Carr and has been adapted with permission from the U.S. Department of State.

Thursday, November 21, 2019

WMD Research Paper Example | Topics and Well Written Essays - 3500 words

WMD - Research Paper Example Some scholars of the world have often referred to the disease as ‘rabbit fever’. The disease is less contagious hence not communicable and individuals can only contract the disease upon breathing in the dust that is contaminated with the Francisella tularensis virus, drinking water or eating food contaminated with the virus, being bitten by an insect that is infected with the disease and touching the wounds, hair, skin of both the infected animals and human beings. The Department of Health and Human services (HHS), Office of Emergency Preparedness (OEP), Centers of Disease Control and Prevention (CDC), National Institute of Health (NIH) as well as the Federal Bureau of Investigation would adequately respond to the Francisella tularensis virus release situation since it is a bioterrorist event. The local law enforcing agencies as well as the Texas Health Department would also play a significant role in containing the incidence. At this juncture, the different health agencies will work towards minimizing the number of casualties by all means possible. The emergency response system in Texas would be fully tasked and resources fully committed. The Texas Health Department (THD), health care physicians and other medical practitioners would work for long hours to try and contain this situation. Resources within the Texas hospitals in this regard would be strained and eventually drained. Chen is a medical chief at Harborview Medical Center and also an associate professor in the University of Washington. Hickner is a professor of Family Clinical medicine and a Head of Department in the University Of Illinois College Of Medicine. Dr. Fink is a physician practicing family medicine. Calligher is one of the best research consultants in America while Dr Helen is the vice president of National Quality Forum (NQF). The main aim of this article was to establish the nature of