Assignment Tax essayEssay Writing Service

Assignment Tax essayEssay Writing Service Assignment Tax essay Assignment Tax essayOn 10 May 2013, the IRS issued regulations under section 336(e) that allow taxpayers in certain situations to elect to treat sales and distributions of 80Â  percent of a corporation’s (the target) stock as taxable sales of the target’s assets (Taxation of Cross-Border Mergers and Acquisitions, 2014). In such a way, the US fiscal policy aims at the enhancement of the transparency of fiscal operations and minimizes the risk of tax avoidance. The development of section 336(e) contributed to raising barriers on the way of international fiscal schemes that allow money laundering and transferring money off shore.Net investment income tax imposes 3.8% tax on net investment income of individuals, estates and trusts (Taxation of Cross-Border Mergers and Acquisitions, 2014). In such a way, the US fiscal policy aims at the accurate and effective taxation of investment incomes obtained by companies as well as individuals operating internationally. At this point , it is worth mentioning the fact that some companies have developed numerous schemes of tax evasion using their investments as the way to transfer their capital off shore or to other countries, where the fiscal legislation is more liberal and less restrictive. In such a way, the national legislation raises barriers for international schemes planned for tax avoidance and other schemes.Furthermore, the Foreign account tax Compliance act (FatCa) was enacted into law to address tax evasion by US taxpayers that hold unreported assets in financial accounts and undisclosed interests in foreign entities (Taxation of Cross-Border Mergers and Acquisitions, 2014). The tax evasion is a serious threat to the national economy. At the same time, international transfers are the most efficient way to complete tax evasions fast and effectively. Local law enforcement agencies have difficulties with the investigation of such crimes. The elimination of fiscal barriers and the enhancement of the foreign account tax policies help to minimize the risk of the violation of tax policies and prevents the problem of tax evasion.One of the major advancement in fiscal policies at the international level is the introduction of International Financial Reporting Standards. International Financial Reporting Standards introduce the common set of standards of financial reporting at the local and international level. In such a way, International Financial Reporting Standards help to balance the international legislation and fiscal policies, to harmonize them and develop common, transparent standards and principles that will contribute to the transparency of accounting and financial performance. International Financial Reporting Standards have been implemented since 2012. The first phase of the International financial Reporting Standards was introduced in 2013 and the preparation for the introduction of the second phase has started. 2014 involved the evaluation and assessment of the implementation of phase one of International Financial Reporting Standards. The accurate assessment is pivotal for the further implementation of phase two of International Financial Reporting Standards.Furthermore, the international cooperation in fiscal policies contributes to the tighter regulations and higher transparency of fiscal policies and accounting of businesses operating at the domestic and international market (Chernick Reschovsky, 2000). In this regard, the introduction of the automated information exchange international standard is an important step toward to the enhancement of the international fiscal policies and standards that facilitate the tax policy and tax accountability of businesses.At the same time, well-developed nations, including the US and the EU assist developing countries into the implementation of international accountability standards and fiscal policies that match international standards (Fighting Tax Evasion and Avoidance: A year of progress, 2014). In such a wa y, developed nations help developing ones to close fiscal gaps and help to introduce effective systems of monitoring and control. However, the key to the effective fiscal policies at the international level is the transparency of fiscal policies.However, one of the primary concerns of the international community in terms of fiscal policies was tackling tax heavens and aggressive tax planning that prevent the risk of the development of tax evasion schemes and transferring substantial financial resources offshore.3)International Financial Reporting Standards may become the tax framework within which international fiscal system can operate successfully. At the same time, the implementation of the common, global fiscal framework does not necessarily mean the resolution of the problem of tax avoidance. In fact, the tax avoidance occurs not only because of differences in fiscal policies and different policy standards but also because of the different in fiscal policies conducted by fiscal institutions of each country. At this point, the International Financial Reporting Standards can become a solid financial framework for well-developed nations with the solid legal system, well-established democracy, and low level of corruption. On the contrary, some developing nations, like Nigeria, for example, face the high risk of corruption. Even emerging economies, like China, suffer from the high level of corruption. Therefore, in case of the creation of the global tax framework after the implementation of International Financial Reporting Standards, countries with the high level of corruption may become new tax heavens for companies and individuals, who want to hide their profits and pay fewer taxes.At the same time, the risk of corruption is not the only obstacle for the successful introduction of the global fiscal framework. The implementation of the International Financial Reporting Standards and the elaboration of the common fiscal policy worldwide raises the problem the economic disparity in the global economy and the different dynamics of the economic development of different countries (Holzman, 2005). What is meant here is the fact that fiscal policies, including fiscal policies regulating international financial operations, are effective tools that help governments to stimulate business activities and balance the economic development. For example, in case of ‘overheating’ of the domestic economy, the government of a country may be willing to raise taxes to avoid the further ‘overheating’ that may lead to the crisis of overproduction and further economic decline. On the contrary, the government of a country that suffers from the economic recession may need to eliminate fiscal barriers and introduce more liberal fiscal legislation to attract more investors. In such a way, they can boost their economic development. However, the introduction of the International Financial Reporting Standards as the common, global tax frame work will become an obstacle for such independent policies conducted by governments. Obviously, at the moment, national governments are not ready to put international fiscal policies above their national economic interests. Therefore, even in case of the introduction of the International Financial Reporting Standards as the global tax framework, this framework will be unable to prevent the risk of tax avoidance.Nevertheless, the introduction of the International Financial Reporting Standards as the common, global tax framework can lay the foundation to the development of common fiscal policies and tax legislation. The introduction of the tax framework implemented internationally will stimulate the introduction of the common tax legislation that will help to prevent the risk of tax avoidance. Even though the International Financial Reporting Standards will not eliminate the problem of the tax avoidance point blank, but still such global tax framework helps to decrease such a risk. At this point, the elaboration of common international standards is an important step toward the effective prevention of tax avoidance at the international level. At any rate, the global tax framework helps to stimulate companies to introduce common strategies to match international fiscal standards. In the course of time, International Financial Reporting Standards can help to make the global business more transparent.In such a way, the International Financial Reporting Standards as the global tax framework will not bring immediate positive changes in terms of the tax avoidance minimization but still the global tax framework will have a positive impact on the development of international business and fiscal policies. Even though the International Financial Reporting Standards will not eliminate the problem of the tax avoidance, they will help to decrease the risk of the tax avoidance.

Death Penalty6 essays

Death Penalty6 essays In national news today, a black man from southern Texas was killed today. He was brutally beaten and than roped to the back of a pick-up and dragged to his death. This isnt all too uncommon to hear in todays news and if anything I think that we have grown numb and gotten use to hearing things of this nature. I dont think that crimes are getting more gruesome, but it does seem that they are becoming more frequent. Either way whether or not they are becoming more frequent there is no cure for the problem. There have been plenty of talks in the recent presidential debates about the death penalty, and many discussions of George Bushes fancy for it and in many cases I just have to agree. In my personal opinion if you are bold and brave enough to take someones life than you should be bold and brave enough to give up your own. To those who stand against it I ask Why? For some its a religious issue, I have heard the phrase, Well, no one has the right to play god. Which is fine if thats what you believe and there is nothing wrong with that, but personally I dont buy into the whole religion thing, I am not a holy man, I have found nothing in my short 18 years here on this planet to prove to me there is a god. I have seen no evidence and Im not one of blind faith, which is what were supposed to have, but that is an entirely different subject. Others say, Well, an innocent man could be killed. The way our government works there are plenty of appeals before the man is put to death that if he wa s innocent Im sure that he could get off, the odds of that happening seem to be slim. But it may be possible that the death penalty may be going in the wrong direction, now this is just a theory that I have. Drug dealers for example are out on the street starting gang wars and basically running around and shooting each other. Th ...

Philosophy Essay Example | Topics and Well Written Essays - 1250 words - 28

Philosophy - Essay Example If looked at closely, one thing that comes out in the open is that the ontological argument given by Descartes differs from the original explanations of the ontological argument. The model for the majority of conventional deductions is the ontological argument presented by St. Anselm in the Proslogium II. Interpreted loosely, Descartes argument means that his notion of God is that of a superlatively perfect being. In itself, existence is excellence. In reality, God must exist or else the idea that one has about God would lack any form of perfection and as expected this would be illogical. The core of God is confined in the idea of existence just like the essence of a triangle revolves around its three sides (Platinga 11). Over the years, there have been various interpretations given on what Descartes really meant in his ontological argument. However, most of given interpretations only examines the simple meaning of existence but Descartes arguments looks at existence in relation to the perfection of God. In short, what Descartes is claiming is that there is no any other way that he can examine the context of God due to his nature as an omnipotent and perfect being. According to Descartes, any idea that an individual has on God must reflect this need. Naturally, this is a special case of perfection and for that reason, any idea of God that an individual has must have objective reality owing to the nature of what it symbolizes (Malcolm 41). According to some modern philosophers, it is apparent that what Descartes depicts by necessary existence is not what a few modern philosophers refer to as logical necessity. In its place, Descartes points to an ontological requirement or perpetual as well as the unconditioned existence. In to ensure that the ontological consideration re understood with certainty, he brings in discussions of epistemological and psychological essentials to match his epistemology. It is interesting to