Income Tax Essay Examples

There have been major changes in tax systems of countries with a wide variety of economic systems and levels of development during the last two decades. The motivation for these reforms has varied from one country to another and the thrust of reforms has differed from time to time depending on the development strategy and […]

In 1910, Straits Settlements (Singapore, Malacca, Penang) Legislative Council introduce a draft bill for imposing a tax on income, but faced strong opposition from tax-paying public. So, proposal s to introduce income tax were stated as to “fund the Imperial War Expenditure”, not to raise revenue. The public agreed. Then, War Tax Ordinance was introduced, […]

Rev. Ruling 82-11 states that Coyote Corp. is required to include the dividend income for federal tax purposes as they are contractually entitled to receive the dividend on the date of record. In contrast, Fox does not include the dividend income on their federal return. According to Rev. Rule 82-11, the ex-dividend rules of a […]

Tax avoidance is a common practice in many societies, where individuals or organizations aim to reduce their tax payments and reap the benefits. One frequently employed method for tax avoidance involves restructuring arrangements. The Inland Revenue Department (RD) scrutinizes these arrangements using laws and previous cases to determine if they qualify as tax avoidance. This […]

Over the past 20 years, countries globally have been adopting less progressive tax systems. Critics claim that this reduction in progressivity may hinder the ability of individual income tax to redistribute wealth effectively. This raises concerns about implementing direct individual income tax plans in developing nations (Burkhauser et al., 2015). Nevertheless, it remains uncertain whether […]