Taxation meaning for dummies Taxation meaning for dummies doc), PDF File (. Tax Break A general term for exemptions, credits, deductions, or any legal way to reduce your taxes In this article we will discuss about the principles of taxation. . It should be noted that the famous Aba women riot of 1929 was triggered by the inclusion of women in tax net by the colonial government, as against existing traditional practice. More than 3,000 years ago, the inhabitants of ancient Egypt and Greece used to pay income tax, consumption taxes and custom duties. Introduction of GST is considered to be a significant step in the reform of indirect taxation in India. So taxation has evolved over time. If you have just moved to Ireland to start work, you will need to apply for a Personal Public Service Number (PPSN). There is esusu in Igboland, there are owo ori and isakole in Yorubaland and other forms of traditional tax system. The most important source of government revenue is tax. The tax system in Ireland. Amalgamating of various Central and State taxes into a single tax would help mitigate the double taxation, cascading, multiplicity of taxes, classification issues, taxable event, and etc. All resources available to the government for taxation. Traditional African societies have various forms of taxation. txt) or read online for free. Also, the bracket into which the last dollar of one's income falls. Tax Bracket A range of incomes that is taxed at a specified tax rate. All of the nation's taxable income added together. If you are returning to Ireland, and you have worked here before, you may already have a PPSN. Thus, the partnership pays its profit earnings to the partners as income, wages and profit payments, and each partner pays the taxes on Taxation for Dummies - Free download as Word Doc (. Pass-through taxation is the type of taxation which generally applies to partnerships. History Income tax is today an important source of revenue for government in all the countries. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors. taxation simplifiedTax ppt 1. , and leading to a common national market. These examples are from the Cambridge English Corpus and from sources on the web. Presentation on Taxation 2. Income-tax was first introduced in India in 1860 by James Wilson who become Indian’s first Finance Member. A tax is a compulsory payment made by individuals and companies to the govern­ment on the basis of certain well-established rules or criteria such as income earned, property owned, capital gains made or expenditure incurred (money spent) on domestic and imported articles. This means that the partnership, itself, is not directly taxed, and the tax burden is instead passed on to the partners. The tax year in Ireland runs from 1 January to 31 December. pdf), Text File (. Microeconomics of Taxation This note provides a basic framework of public finance at the microeconomic level, starting from a general theory of taxation on commodity, income and corporate profits and then extending issues of tax evasion and compliance, and tax reform Taxation meaning for dummies