Category: Tax

Towards a Successful Personal Income Tax System in Hong Kong Table of Contents Introduction Dynamics of Tax System versus Tax Player Participation Engaging the Tax Player Participation Comparisons and Amendments: US versus Hong Kong Tax Systems Conclusion List of References Introduction The primary purpose of any form of taxation practiced across civilizations the world over…

Tax Planning for Executive Compensation The efficiency of executive compensation for shareholders is something that boards of directors and companies strive to achieve by maximizing their tax deductibility. The tax code (Internal Revenue Code) includes several provisions that apply to executive compensation such as Tax Code §162(m)  Deductibility of Executive Compensation and Tax Code…

Multijurisdictional Tax Planning The choice of jurisdiction to which taxpayers, individuals, and business representatives resort may be based on several principles. According to Weinreich (2016), they include selecting jurisdictions with minimum tax audit requirements and an opportunity to choose tax rates for the totality of taxes. In other words, the possibility of giving preferences to…

Tax Research Problem: Determination of Taxable Income Introduction A leasing agreement guarantees a firm or an individual to use certain specific assets for which payment is required. This contractual relationship between the lessor and lessee can be for an indefinite period or periodic where there is an automatic renewal or certain agreed-upon fixed duration by…

Is the United States Earned Income Tax Credit Fair? Table of Contents Introduction Arguments for and against the EITC The EITC is fair Arguments against EITC and counterarguments Conclusion References Introduction The United States Earned Income Tax Credit (EITC) refers to a government initiative that aims to improve the financial stability of citizens by giving…

Contemporary Taxation Issue: Green Tax System Table of Contents Introduction Objectives of a Green Tax System Pigouvian vs. standards and pricing Environmental taxation Development of environmental taxes in the UK References Introduction The evolution of a green economy (GE) has become the main concern for many countries. It requires significant law reforms at the local,…

International Tax Treaties for Multinational Firms Table of Contents Difference between legal and economic double taxation Methods used to relieve international double taxation Implications for financing multinational enterprises Prove of Tax paid to foreign government Reference List Companies engage in business to make profits after which they either reinvest back into the company for the…

Systems of Hong Kong Tax Reform Table of Contents Introduction Basic Tax Principles The Hong Kong Tax System Reforms in the Hong Kong tax system The unified tax system Conclusion References Introduction Littlewood (1997) defines taxes as the charges levied against a citizens personal income or on the property or for some specific activity. Taxes…

Tax Model in Hong Kong Tax Reform Introduction Low taxes and low government spending makes Hong Kong to be ranked among the most successful tax systems in the world. Hong Kongs tax system withholds Goods and services Tax, pay as you earn not used and focuses on big income sources. This has seen it gain…

The Role of Tax System, Tax Reform in Hong Kong Introduction Currently, Hong Kong primarily derives its tax revenue from the Salaries Tax and the Profits Tax, this makes up approximately two-thirds of the total revenue from tax collection in Hong Kong (Arnold & McIntyre, 2002). The existing tax base of Hong Kong is extremely…