All categories

3 years ago

with reference to relevant legislation , case law, and secondary sources briefly explain different functions of taxation

Business

1 answer:

svetlana [45]3 years ago

8 0

Answer:

Tax is a statutory obligation to pay an amount to the state or other public body, which is imposed on a person or company on the basis of their activities, without a direct connection to consideration from the payee. The main purpose is usually to finance the public sector. The tax can also have other purposes, such as equalizing income or influencing people's actions with the help of financial incentives.

You might be interested in

Jose owns a dog whose barking annoys Jose's neighbor Amy. Suppose that the net benefit of owning the dog is worth $400 to Jose a

Alex Ar [27]

Answer: Jose has to pay $600.

Explanation:

Jose has to pay $600 to Jane for her inconvenience.

In Accordance with Coase theorem, when two conflicting parties exist, one has to ‘buy the right’ from the other party.

Which In this scenario or case, Jane has the ‘right to prevent Jose from having a dog’.

Thus, Jose has to pay compensation to Jane so that he can keep his dog and at the same time Jane is also compensated for the inconvenience which may arise later.

5 0

3 years ago

Read 2 more answers

Suppose Ruston Company had the following results related to cash flows for 2020: Net Income of $9,100,000 Adjustments from Opera

elena-s [515]

Answer:

The Net Cash Flow is $9,300,000.

Explanation:

A statement of cash flows with amounts in thousands can be created to determine the Net Cash Flow as follows:

Ruston Company

Statement of Cash Flows

For the Year 2020

Details $'000

Net Income 9,100

Adjustments from Operating Activities 1,100

Net Cash Flow from Operating Activities 10,200

Net Cash Flow from Investing Activities (4,300)

Net Cash Flow from Financing Activities of 3,400

Net Cash Flow  9,300 

Since the amount is in thousands, that implies that the Net Cash Flow is $9,300,000.

7 0

2 years ago

jameson machinery inc. wants to release their newest equipment in the south american market before other companies in order to e

Natasha_Volkova [10]

Based on the actions of Jameson Machinery Inc, we can infer that they want to benefit from First Mover Advantage.

First Mover Advantage:

Involves being the first company or brand to enter a certain industry
Gives the brand a competitive advantage and customer loyalty over other competitors
Allows company to perfect services offered

In trying to get to South America first and having their brand established, Jameson hopes to benefit from first mover advantage which would see them have a competitive advantage over competitors that come later.

In conclusion, Jameson hopes to benefit from First-Mover Advantage.

Find out more at brainly.com/question/14663095.

3 0

2 years ago

One example of a company that is allowed to sell shares to the public

Nuetrik [128]

A public company may be formed by persons among the public including Indian nationals or foreigners. It may be conceived in the government, cooperative, joint, as well as private sector of the economy. Some examples of public companies are, Reliance Industries, Tata Motors, Bharti Airtel, Larsen & Tourbo, etc.

mark me bainlest plss

5 0

3 years ago

When managers organize divisions according to the types of customer to whom they market their products, they are focusing on a p

mezya [45]

When managers organize divisions according to the types of customer to whom they market their products, they are focusing on the product structure: market structure.
The market structure is an organizational structure in which each kind of customer is served by a self-contained structure.

6 0

2 years ago