Реферат на тему taxes

Обновлено: 05.07.2024

Tax as a word now is used the money that is collected by t5he government of a state in order to have enough fund to smoothly run the affairs of the state. Taxation is compulsory levies imposed on the citizens of a country are up to the age of paying tax. The laws that govern rates, procedure and qualifying items for taxation are called the “the tax laws” or Finance Act for those are living in UK.

We have both the direct and the indirect tax. Direct taxes are those taxes that are directly charged to taxable income of taxable persons while indirect tax are those taxes that are levied on middle men that will eventually be borne by the end user of a particular taxable product. A good example is the Vat (value added tax).A value added tax is the compulsory levy imposed on the extra value added to a product by the manufacturer which will ultimately be borne by the consumer of the product.

Government use monetary or fiscal tools to control money supply in a country and taxation which is the process fashioning out efficient ways of administering tax happens to be one of the fiscal tools that the government can use to control things like inflation and unemployment in a country.

Taxation

Objectives of taxation.Tax is a compulsory levy on individuals and companies by the state to meet the expenses of the government. Taxation is imposition of compulsory levies on persons or other entities by governments. Taxes are levied in almost every country of the world, primarily to raise revenue (money that a business or organization receives over a period of time, especially from selling goods or services) for government expenditures. One useful way to view the purposeof taxation is to distinguish between objectives of resources allocation, income redistribution, and economic stability. Economic growth or development and international competitiveness (the ability of a company or a product to compete with others) are sometimes listed as separate goods. In the absence of a strong reason for interference, such as the next to reduce pollution, the resourceallocation objective is furthered if tax policy does not interfere with market – determined allocations. The redistributive objective is to lessen inequalities in the distribution of income and wealth to the extent they are considered excessive and unjust. The stabilization objective is the maintenance of high employment and price stability.

Insurance

Insurance,the insurer and the insured. To insure means to buy insurance to protect yourself against something had happening to you, your family or your possessions. The insurer is a person or company that provides insurance. The insured is the person or people who are insured. Insuranceis a contract in writing between an insurance company and the insured, whereby the insurance company will pay the insured a stated sum of money on the happening of a stated event. Frequently the words insurance and ‘assurance’ are used in the same way. In return for a specified amount in the event that the insured suffers loss through the occurrence of a contingent event covered by the insurance contract (insurance policy). By pooling the financial contributions of a large number of policyholders, the insurer is usually able to absorb losses incurred over any given period much more easily than would uninsured individual. While the destruction of an automobile in a traffic accident imposes a heavy financial loss on an individual, for example, one such loss is of relatively small consequence to an insurer who is collecting sufficient premiums ( insurance premiums is the money that you pay regularly to an insurance company) on a large number of automobiles.

Definition

A fee charged (levied) by a government on a product, income or activity. If tax is levied directly on personal or corporate income, then it is a direct tax. If tax is levied on the price of a good or service, then it is called an indirect tax. The purpose of taxation is to finance government expenditure. One of the most important use of taxes is to finance public goods and services, such as street lighting and street cleaning. Since public goods and services do not allow a non – payer to be excluded, or allow exclusion by a consumer, there cannot be a market in the good or service, and so they need to be provided by the government or a quasi – government agency, which tend to finance themselves largely through taxes.

Process by which a taxation authority tries to assure that all taxable property under its jurisdictions assessed for property taxes at the same percentage of its market value. This percentage is called equalization rate.

An appraisal term used to describe assessed values that have the same relationship to market value, implying an equalization of the tax burden.

A title insurance policy that protects the interest in a collateral property of a mortgage lender who originates a new real estate loan.

Taxes in Europe – Tax reforms

The “Taxes in Europe – Tax reforms “database (TEDB )is the European Commission’s on – line information tool covering the main taxes in force in the Europe Member States. The system contains information on around 600 taxes, as provided to the European Commission by the national authorities.

The new “Tax reforms” database (TAXREF) is entailed by the update of the TEDB. It collects information on tax reforms in the member states in a structured way. It covers reforms in eight important tax categories: Vat, PIT,CIT, Social Security contributions paid by employees, Social Security contributions paid by employers and the three EU harmonized Excise duties on Alcoholic beverages, Energy products and Tobacco products. TAXREF is an innovative tool to analyses trends in taxation in the member states in a timely way. It revenue generated how European tax systems are evolving over time.

Access to the databases is free for all users. The information can be found quickly and easily using the search tool.

What type of information is available?

The “Taxes in Europe” database contains for each individual tax, information on its legal basis, assessment base, main exemptions, applicable rate(s), economic and statistical classification, as well as the revenue generated by it.

The information is listed in the form of a downloaded file.

The “Taxes in Europe” database is not meant to constitute a reference for legal purposes.

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Taxes Essay, Research Paper

Taxes: A Necessity For Everyone

Imagine not having to pay taxes. Many of us dream about what we d do with that solid chunk of money that gets sent away to the government. We don t exactly know where that solid chunk of our earnings goes. What we do know is that it can t go exactly where we want it to. I don t support NATO. Why does a whopping twenty percent of my taxes go towards the military? There aren t any fires anymore. I ll hire my own firefighters. What s a person to do? Thoreau says don t pay the taxes if you don t agree with them. However the truth of the matter is, it is one s civil duty to pay taxes.

Henry David Thoreau was living in America during a period of slavery and the Mexican War, both of which he strongly disapproved of. It crushed him to think that his hard-earned money would be used to buy weapons to kill people, or support a government that approves of slavery. He believed that the only way he could express his dissaproval was to simply not pay the taxes. By this method he was content in the fact that he was in no way approving or funding two issues that his morals conflicted with. Thoreau believed that if one s morals, the very code that they lived by, did not agree with any part of the government s workings it was not only his right, but his duty to disobey and rebel against these workings. He says that man cannot waste away his life serving his country and still live fully and that one should be a man (living by his own morals) before a subject (living by the morals of a government.)

It can be assumed that any citizen in the whole United States has some issue with the government. Even more importantly, many live with the conscience that their money funds a judgment of our government that their morals do not support. Should all of them refuse to pay taxes as Thoreau preached?

What would our country be like if society did as Thoreau said? For example, when state taxes are collected the money is sent to the government of that state. A portion of that money is distributed to the police force. Without money to pay police officers, the results would be unthinkable. Without police officers, there would be chaos. Stores would be looted, people would be robbed, and organized crime would run free and rampant. There would be no one to stop bank robberies, shootings, and rapists. And if, by some chance they were caught and stopped, who would punish them? Imagine walking down the street and seeing a helpless man being mugged as he leaves the ATM machine. You run over and try to stop the criminal but there s too many of them. You wake up next to the old man just as broke as he is. The next time you see it happen, perhaps an old lady being robbed of her groceries, you know better than to try and help. There s no one else you can get help from and you know it will only end up the same as before, so you watch painfully, waiting until it is over and then go over to her for comfort. Keep in mind that this is only one small example of what would happen if taxes were not dutifully paid. The police is only a small fraction of the government s infrastructure that would collapse.

Thoreau does have a point. When taxes are paid our money may go towards something that we do not feel right contributing to. However, what he fails to recognize is that when citizens seize to pay taxes, they are chopping the artery that funds the rest of the government also. It is important to keep in mind that many of those factions one does approve of, and not only approve of, but require. There are literally thousands of divisions of government that depend on the commonwealth s taxes to function. Without the taxes they require, all of these sections will crumble, and our government will be destroyed. Society requires a level of organization to allow man to live fully. By paying taxes we are securing protection in society for our children, their future generations and ourselves. We must think of ourselves as one community working together, and without the support of enough people, it will fall apart, resulting in chaos and dehumanization. Therefore everyone must support it by paying taxes.

On a certain day after the lecture on the UK taxation system the Group was to visit the Tax Department of a lawyers' firm in the centre of London. Mr. Hill and the participants went there by tube which is the fastest means of transport when one wishes to move in the centre of the city. After they got into the building of the firm they went to the secretary's office.

Mr. Hill: Good afternoon.

Secretary: Good afternoon, sir.

Mr. Hill: My name is Hill and here is the Group of Russian businessmen. We have got an appointment with Mr. Brown for three.

Secretary: Mr. Brown is waiting for you in the conference room. Follow me, please.

In the conference room a few Englishmen were waiting for the Group. Mr. Brown, Head of the Department, welcomed the Group and introduced his colleagues. They were solicitors and legal assistants of different offices. Each of them spoke about his scope of business for some time. Thus the participants had some information on commercial taxes, international taxes. Project Finance taxes and other taxation matters.

A lot of questions were asked and answered then. The discussions were very useful and informative. Before the participants left they were offered latest Tax Guides containing current tax rates and tax saving hints.

Here is an extract from the Guide:

Corporation Tax Rates 1997

Standard rate 33%

Small companies rate (see the note) 25%

Applicable if the company's total profits, including chargeable gains, are 300.000 pounds sterling or less. The threshold is reduced if the company has associated companies.

Examples: Corporation Tax calculations

Example 1. Standard rate of tax Company A has accounts year ending 31 December 1996. It has taxable profits for the year GBP 2,000,000.

Company A's Corporation Tax for 1996 is GBP 2,000,000х33% = GBP 660,000

Example 2. Small companies rate of tax Company В has accounts year ending 31 December 1996. It has taxable profits for the year of GBP 150,000. It has no associated companies.

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Taxes

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Plan:1. Concept and features of taxes?2. Types of Taxes3. Options taxes

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Concept and features of taxes

Tax - a compulsory, individual gratuitous payment levied from the organizations and individuals in the form of alienation of their funds in order to ensure the financial activity of the state. Signs of taxes Binding. The monetary form of payment. Objective - to ensure the activities of the state and the needs of society. Gratuitousness.

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Types of taxes

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Types of Taxes

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Options taxes

Regulatory Distribution Fiscal Accounting.