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FM Lecture : CANONS OF TAXATION

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School
Nueva Vizcaya State University
Department
Business
Course
FM
Professor

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Document Summary

Notes: canon of equality, canon of economy, canon of certainty, canon of convenience, canon of productivity, canon of elasticity, canon of diversity, canon of simplicity, canon of co-ordination refer to the administrative aspect of the tax. They relate to the rate, amount method of levy, and collection of a tax. is the most important and basic canon of taxation. It is based on the principle of social justice and ability to pay. explains that taxes should be collected at minimum cost. The tax laws and procedures should be simple. That is, there must be certainty about the tax which an individual has to pay. It explains that a tax should be levied in such manner or in such a time that it is convenient for the taxpayer to pay it. large. According to this canon it is desirable to have a few taxes yielding large revenue rather than having a large number of taxes yielding small revenue.

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Related Questions

URGENT: please solve. All information and directions are there

A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: 

Members of the company's board of directors are surprised to see that net income increased by only $ 233,000 when sales increased by $ 1,752,000.
 
Required:
1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)
 
     This Year       Last Year 
 Sales    %   %
 Cost of goods sold   %   %
 Gross Margin 0.00 % 0.00 %
 Selling and administrative expenses:        
       Selling expenses    %   %
       Administrative expenses   %   %
 Total selling and administrative expenses 0.00 % 0.00 %
 Net operating income 0.00 % 0.00 %
 Interest expense   %   %
 Net income before taxes  0.00 % 0.00 %
 

Case Study – Activity 1

The case of an Abusive Supervisor?

This challenge involves the behavior of Kofi Amponsah, the supervisor of a Municipal Tax Collection Office in the Greater Accra Region. He has worked through the ranks for more than 20 years to get to his current position. Efua Mensah also worked in the same Municipality for more than 20 years but got transferred to the Tax Collection division recently as an Administrative Assistant. Efua filed a lawsuit claiming that her boss (Kofi) and the office allowed a hostile work environment to exist. She had worked at the office for about three years at the time of the suit. The hostility allegedly began on Efua’s first day at work in that office. Upon arriving, Kofi showed her the “Wall of Shame,” Placed conspicuously in the main office, it contained a funeral urn with the “ashes of problem employees.” Efua noted that it resembled “the way Adolf Hitler treated the disabled and the Jews during the Holocaust,” with “various nameplates of the employees who were ‘exterminated’” or fired by Kofi. The lawsuit alleges that Kofi stated “that all personnel of his office should be ‘perfect humans,’ as he believed he was.” Media reports about the situation allege that “Kofi threw papers at Efua and called her a ‘waste of a human being,’ and referred to her as a ‘mess up’ who should just ‘quit her job.’” Efua ultimately experienced stress and anxiety and took sick leave for medical and psychiatric treatment. When she returned to work, Efua alleges that Kofi relocated her desk so that she had to look at the Wall of Shame, which now contained her name along with the others.

A more detailed information of a least on page.

Case Study – Activity 1

The case of an Abusive Supervisor?

This challenge involves the behavior of Kofi Amponsah, the supervisor of a Municipal Tax Collection Office in the Greater Accra Region. He has worked through the ranks for more than 20 years to get to his current position. Efua Mensah also worked in the same Municipality for more than 20 years but got transferred to the Tax Collection division recently as an Administrative Assistant. Efua filed a lawsuit claiming that her boss (Kofi) and the office allowed a hostile work environment to exist. She had worked at the office for about three years at the time of the suit. The hostility allegedly began on Efua’s first day at work in that office. Upon arriving, Kofi showed her the “Wall of Shame,” Placed conspicuously in the main office, it contained a funeral urn with the “ashes of problem employees.” Efua noted that it resembled “the way Adolf Hitler treated the disabled and the Jews during the Holocaust,” with “various nameplates of the employees who were ‘exterminated’” or fired by Kofi. The lawsuit alleges that Kofi stated “that all personnel of his office should be ‘perfect humans,’ as he believed he was.” Media reports about the situation allege that “Kofi threw papers at Efua and called her a ‘waste of a human being,’ and referred to her as a ‘mess up’ who should just ‘quit her job.’” Efua ultimately experienced stress and anxiety and took sick leave for medical and psychiatric treatment. When she returned to work, Efua alleges that Kofi relocated her desk so that she had to look at the Wall of Shame, which now contained her name along with the others.

Adapted from Kinicki & Fugate (2018)