Taxation in Islam
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An Overview of the European Tax Havens
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Maftei, Loredana Article An Overview of the European Tax Havens CES Working Papers Provided in Cooperation with: Centre for European Studies, Alexandru Ioan Cuza University Suggested Citation: Maftei, Loredana (2013) : An Overview of the European Tax Havens, CES Working Papers, ISSN 2067-7693, Alexandru Ioan Cuza University of Iasi, Centre for European Studies, Iasi, Vol. 5, Iss. 1, pp. 41-50 This Version is available at: http://hdl.handle.net/10419/198228 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. https://creativecommons.org/licenses/by/4.0/ www.econstor.eu AN OVERVIEW OF THE EUROPEAN TAX HAVENS Loredana Maftei* Abstract: In the actual context of economic globalization, tax havens represent a significant obstacle for global governments seeking to increase their fiscal incomes and a source of polarization of income and wealth. -
Arbeitskreis Quantitative Steuerlehre
arqus Arbeitskreis Quantitative Steuerlehre www.arqus.info Diskussionsbeitrag Nr. 3 Caren Sureth / Ralf Maiterth Wealth Tax as Alternative Minimum Tax ? − The Impact of a Wealth Tax on Business Structure and Strategy − April 2005 arqus Diskussionsbeiträge zur Quantitativen Steuerlehre arqus Discussion Papers on Quantitative Tax Research ISSN 1861-8944 Wealth Tax as Alternative Minimum Tax ? – The Impact of a Wealth Tax on Business Structure and Strategy – Caren Sureth∗ † and Ralf Maiterth∗∗ April 2005 ∗ Prof. Dr. Caren Sureth, University of Paderborn, Faculty of Business Administration and Economics, Warburger Str. 100, D-33098 Paderborn, Germany, e-mail: [email protected] † corresponding author ∗∗ Dr. Ralf Maiterth, University of Hanover, Department of Economics, K¨onigsworther Platz 1, D-30167 Hanover, Germany, e-mail: [email protected] Wealth Tax as Alternative Minimum Tax ? – The Impact of a Wealth Tax on Business Structure and Strategy – Abstract An alternative minimum tax (AMT) is often regarded as desirable. We analyze a wealth tax at corporate and personal level that is designed as an AMT as proposed by the German Green Party. This wealth tax is imputable to profit taxes and is hence intended to prevent multiple (multistage) taxation. Referring to data from annual reports and the German Central Bank we model enterprises of different structure, industry, size and legal status. We show that companies in the service sector which generally maintain rather high gearing rates are more frequently subjected to the wealth tax than capital intensive industries. This result runs counter to well-known effects of a common wealth tax. Capital intensive firms, e.g. in the metal industry, are levied with definitive wealth tax only if they have large loss carry-forwards or extremely volatile profits. -
TTB F 5000.24Sm Excise Tax Return
OMB No. 1513-0083 DEPARTMENT OF THE TREASURY 1. SERIAL NUMBER ALCOHOL AND TOBACCO TAX AND TRADE BUREAU (TTB) EXCISE TAX RETURN (Prepare in duplicate – See instructions below) 3. AMOUNT OF PAYMENT 2. FORM OF PAYMENT $ CHECK MONEY ORDER EFT OTHER (Specify) NOTE: PLEASE MAKE CHECKS OR MONEY ORDERS PAYABLE TO THE ALCOHOL AND TOBACCO TAX AND 4. RETURN COVERS (Check one) BEGINNING TRADE BUREAU (SHOW EMPLOYER IDENTIFICATION NUMBER ON ALL CHECKS OR MONEY ORDERS). IF PREPAYMENT PERIOD YOU SEND A CHECK, SEE PAPER CHECK CONVERSION ENDING NOTICE BELOW. 5. DATE PRODUCTS TO BE REMOVED (For Prepayment Returns Only) FOR TTB USE ONLY 6. EMPLOYER IDENTIFICATION NUMBER 7. PLANT, REGISTRY, OR PERMIT NUMBER TAX $ PENALTY 8. NAME AND ADDRESS OF TAXPAYER (Include ZIP Code) INTEREST TOTAL $ EXAMINED BY: DATE EXAMINED: CALCULATION OF TAX DUE (Before making entries on lines 18 – 21, complete Schedules A and B) PRODUCT AMOUNT OF TAX (a) (b) 9. DISTILLED SPIRITS 10. WINE 11. BEER 12. CIGARS 13. CIGARETTES 14. CIGARETTE PAPERS AND/OR CIGARETTE TUBES 15. CHEWING TOBACCO AND/OR SNUFF 16. PIPE TOBACCO AND/OR ROLL-YOUR-OWN TOBACCO 17. TOTAL TAX LIABILITY (Total of lines 9-16) $ 18. ADJUSTMENTS INCREASING AMOUNT DUE (From line 29) 19. GROSS AMOUNT DUE (Line 17 plus line 18) $ 20. ADJUSTMENTS DECREASING AMOUNT DUE (From line 34) 21. AMOUNT TO BE PAID WITH THIS RETURN (Line 19 minus line 20) $ Under penalties of perjury, I declare that I have examined this return (including any accompanying explanations, statements, schedules, and forms) and to the best of my knowledge and belief it is true, correct, and includes all transactions and tax liabilities required by law or regulations to be reported. -
Understanding the Concept of Islamic Sufism
Journal of Education & Social Policy Vol. 1 No. 1; June 2014 Understanding the Concept of Islamic Sufism Shahida Bilqies Research Scholar, Shah-i-Hamadan Institute of Islamic Studies University of Kashmir, Srinagar-190006 Jammu and Kashmir, India. Sufism, being the marrow of the bone or the inner dimension of the Islamic revelation, is the means par excellence whereby Tawhid is achieved. All Muslims believe in Unity as expressed in the most Universal sense possible by the Shahadah, la ilaha ill’Allah. The Sufi has realized the mysteries of Tawhid, who knows what this assertion means. It is only he who sees God everywhere.1 Sufism can also be explained from the perspective of the three basic religious attitudes mentioned in the Qur’an. These are the attitudes of Islam, Iman and Ihsan.There is a Hadith of the Prophet (saw) which describes the three attitudes separately as components of Din (religion), while several other traditions in the Kitab-ul-Iman of Sahih Bukhari discuss Islam and Iman as distinct attitudes varying in religious significance. These are also mentioned as having various degrees of intensity and varieties in themselves. The attitude of Islam, which has given its name to the Islamic religion, means Submission to the Will of Allah. This is the minimum qualification for being a Muslim. Technically, it implies an acceptance, even if only formal, of the teachings contained in the Qur’an and the Traditions of the Prophet (saw). Iman is a more advanced stage in the field of religion than Islam. It designates a further penetration into the heart of religion and a firm faith in its teachings. -
An Analysis of the Graded Property Tax Robert M
TaxingTaxing Simply Simply District of Columbia Tax Revision Commission TaxingTaxing FairlyFairly Full Report District of Columbia Tax Revision Commission 1755 Massachusetts Avenue, NW, Suite 550 Washington, DC 20036 Tel: (202) 518-7275 Fax: (202) 466-7967 www.dctrc.org The Authors Robert M. Schwab Professor, Department of Economics University of Maryland College Park, Md. Amy Rehder Harris Graduate Assistant, Department of Economics University of Maryland College Park, Md. Authors’ Acknowledgments We thank Kim Coleman for providing us with the assessment data discussed in the section “The Incidence of a Graded Property Tax in the District of Columbia.” We also thank Joan Youngman and Rick Rybeck for their help with this project. CHAPTER G An Analysis of the Graded Property Tax Robert M. Schwab and Amy Rehder Harris Introduction In most jurisdictions, land and improvements are taxed at the same rate. The District of Columbia is no exception to this general rule. Consider two homes in the District, each valued at $100,000. Home A is a modest home on a large lot; suppose the land and structures are each worth $50,000. Home B is a more sub- stantial home on a smaller lot; in this case, suppose the land is valued at $20,000 and the improvements at $80,000. Under current District law, both homes would be taxed at a rate of 0.96 percent on the total value and thus, as Figure 1 shows, the owners of both homes would face property taxes of $960.1 But property can be taxed in many ways. Under a graded, or split-rate, tax, land is taxed more heavily than structures. -
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5th International Conference on Accounting, Auditing, and Taxation (ICAAT 2016) TAX TRANSPARENCY – AN ANALYSIS OF THE LUXLEAKS FIRMS Johannes Manthey University of Würzburg, Würzburg, Germany Dirk Kiesewetter University of Würzburg, Würzburg, Germany Abstract This paper finds that the firms involved in the Luxembourg Leaks (‘LuxLeaks’) scandal are less transparent measured by the engagement in earnings management, analyst coverage, analyst accuracy, accounting standards and auditor choice. The analysis is based on the LuxLeaks sample and compared to a control group of large multinational companies. The panel dataset covers the years from 2001 to 2015 and comprises 19,109 observations. The LuxLeaks firms appear to engage in higher levels of discretionary earnings management measured by the variability of net income to cash flows from operations and the correlation between cash flows from operations and accruals. The LuxLeaks sample shows a lower analyst coverage, lower willingness to switch to IFRS and a lower Big4 auditor rate. The difference in difference design supports these findings regarding earnings management and the analyst coverage. The analysis concludes that the LuxLeaks firms are less transparent and infers a relation between corporate transparency and the engagement in tax avoidance. The paper aims to establish the relationship between tax avoidance and transparency in order to give guidance for future policy. The research highlights the complex causes and effects of tax management and supports a cost benefit analysis of future tax regulation. Keywords: Tax Avoidance, Transparency, Earnings Management JEL Classification: H20, H25, H26 1. Introduction The Luxembourg Leaks (’LuxLeaks’) scandal made public some of the tax strategies used by multinational companies. -
Imports in GST Regime (Goods & Services Tax)
Imports in GST Regime (Goods & Services Tax) Introduction Under the GST regime, Article 269A constitutionally mandates that supply of goods, or of services, or both in the course of import into the territory of India shall be deemed to be supply of goods, or of services, or both in the course of inter-State trade or commerce. So import of goods or services will be treated as deemed inter-State supplies and would be subject to Integrated tax. While IGST on import of services would be leviable under the IGST Act, the levy of the IGST on import of goods would be levied under the Customs Act, 1962 read with the Custom Tariff Act, 1975. The importer of services will have to pay tax on reverse charge basis. However, in respect of import of online information and database access or retrieval services (OIDAR) by unregistered, non-taxable recipients, the supplier located outside India shall be responsible for payment of taxes (IGST). Either the supplier will have to take registration or will have to appoint a person in India for payment of taxes. Supply of goods or services or both to a Special Economic Zone developer or a unit shall be treated as inter-State supply and shall be subject to levy of integrated tax. Directorate General of Taxpayer Services CENTRAL BOARD OF EXCISE & CUSTOMS www.cbec.gov.in Imports in GST Regime (Goods & Services Tax) Importer Exporter Code (IEC): As per DGFT’s Trade Notice No. 09 The taxes will be calculated as under: dated 12.06.2017, the PAN of an entity would be used as the Import Particulars Duty Export code (IEC). -
The Five Pillars of Islam
The Five Pillars of Islam Objectives: I will be able to describe the basic beliefs of Islam and explain the meaning of each of the Five Pillars of Islam. I will compare and contrast the Five Pillars of Islam with the duties of Catholicism. Materials: ● Station Note Taking Guide for students ● Primary Source Documents for each student station ● Construction paper (11x17) ● Colored pencils ● Rulers Technology: ● Computer ● SmartBoard ● Personal student devices Procedures: 1. Whole Group Share: What do you know about Islam? 2. Introductory Video: Students will watch “5 Pillars of Islam - part 1 | Cartoon by Discover Islam UK” (https://youtu.be/9hW3hH9_7pI) and “5 Pillars of Islam - part 2 | Cartoon by Discover Islam UK” (https://youtu.be/_bujwCZ9RHI) 3. Small Group Activity: Students will work in small groups of 4-5 and rotate between five stations (see below) and complete 5 Pillars of Islam note taking guide. a. Declaration of Faith (Appendix A-B) b. Ritual Prayer (Appendices C-G) c. Obligatory Expenditure (H-I) d. Fasting Ramadan (J-M) e. Pilgrimage to Mecca (N-P) 4. Individual Activity: Using their notes, students will create a visual representation of the Five Pillars of Islam. 5. Pair Activity: Students will create a double bubble comparing and contrasting Islam with Christianity. (**You can substitute any other religion the students are familiar with or have been studying.**) Resources: www.pbslearningmedia.org/resource/islam08.socst.world.glob.lppillars/the-five-pillars-of-islam/ http://www.thirteen.org/edonline/accessislam/lessonplan2.html http://www.discoverislam.co.uk/ http://www.pbs.org/wgbh/pages/frontline/teach/muslims/beliefs.html THE FIVE PILLARS OF ISLAM PILLAR DESCRIPTION/ NOTES PICTURE The Declaration of Faith Ash - Shahadah STATION 1: DECLARATION OF FAITH With your group, examine Appendices A-C and discuss the following questions. -
Unclassified ECO/WKP(2001)18
Unclassified ECO/WKP(2001)18 Organisation de Coopération et de Développement Economiques Organisation for Economic Co-operation and Development 03-May-2001 ___________________________________________________________________________________________ English text only ECONOMICS DEPARTMENT Unclassified ECO/WKP(2001)18 INCREASING SIMPLICITY, NEUTRALITY AND SUSTAINABILITY: A BASIS FOR TAX REFORM IN ICELAND ECONOMICS DEPARTMENT WORKING PAPERS No. 292 by Richard Herd and ThorsteinnThorgeirsson English text only JT00107006 Document complet disponible sur OLIS dans son format d’origine Complete document available on OLIS in its original format ECO/WKP(2001)18 ABSTRACT/RÉSUMÉ This paper analyses the possibilities for reforming the Icelandic tax system. It puts the current tax structure in its historic context, showing that there has been a steady movement towards simplification. The personal income tax has a lower than average number of bands and, taxes capital income at an unusually low rate. Such a structure favours saving, especially since consumption taxes are particularly high. Nonetheless, there are a number of additional taxes on capital income that serve to raise the overall tax on assets, notably the tax on net wealth. The paper concludes that, if the current budget surplus persists over the medium-term, priority should be given to further reducing corporate taxes and the net wealth tax. At the same time, a number of discriminatory indirect taxes should be replaced by a uniform tax, and the diesel tax reformed. Consideration should also be given to the gradual introduction of a resource tax or to auctioning fishing quotas to help fund the other tax reductions. JEL classification: H2 Keywords: Taxation, tax policy, Iceland * * * Le présent document analyse les possibilités de réformer le système fiscal islandais. -
Ecotaxes: a Comparative Study of India and China
Ecotaxes: A Comparative Study of India and China Rajat Verma ISBN 978-81-7791-209-8 © 2016, Copyright Reserved The Institute for Social and Economic Change, Bangalore Institute for Social and Economic Change (ISEC) is engaged in interdisciplinary research in analytical and applied areas of the social sciences, encompassing diverse aspects of development. ISEC works with central, state and local governments as well as international agencies by undertaking systematic studies of resource potential, identifying factors influencing growth and examining measures for reducing poverty. The thrust areas of research include state and local economic policies, issues relating to sociological and demographic transition, environmental issues and fiscal, administrative and political decentralization and governance. It pursues fruitful contacts with other institutions and scholars devoted to social science research through collaborative research programmes, seminars, etc. The Working Paper Series provides an opportunity for ISEC faculty, visiting fellows and PhD scholars to discuss their ideas and research work before publication and to get feedback from their peer group. Papers selected for publication in the series present empirical analyses and generally deal with wider issues of public policy at a sectoral, regional or national level. These working papers undergo review but typically do not present final research results, and constitute works in progress. ECOTAXES: A COMPARATIVE STUDY OF INDIA AND CHINA1 Rajat Verma2 Abstract This paper attempts to compare various forms of ecotaxes adopted by India and China in order to reduce their carbon emissions by 2020 and to address other environmental issues. The study contributes to the literature by giving a comprehensive definition of ecotaxes and using it to analyse the status of these taxes in India and China. -
The Transformation of Middle Eastern Cities in the 12 Century
Stefan Heidemann, Jena University The Transformation of Middle Eastern Cities in the 12th Century: Financing Urban Renewal The scope of the project1 The 12th century was a period of rapid change in the Middle East. It was a time of renewal as well as completion as the cityscapes’ Islamization came to a head. In Syria and Northern Mesopotamia a vast building program finally transformed the late Roman/early Islamic city of the sixth to the tenth centuries⎯followed by almost two centuries of decline⎯to the prosperous medieval city of the twelfth to sixteenth centuries, which can be still seen in the old towns of modern cities in the Middle East. The majority of the urban populations had become Muslim, and, with the appearance of a strong Muslim constituency, the cities became dominated by Islamic buildings and institutions, such as congregational mosques, schools of higher learning (madrasa), convents for mystics (khanqah), and hospitals. The period prior to the Seljuq conquest of Syria in 1087 witnessed urban decline. The beginning of the urban, political and economic renaissance2, and the extensive Zangid3 1 This chapter of my research project ‘the transformation of the Middle Eastern Cities in the 12th Century’ would not have been possible without the stimulating academic environment created by the Aga Khan Program for Islamic Architecture at MIT by invitation of Prof. Nasser Rabbat. Since 2004 this project is supported by the German Research Foundations (DFG) as ‘The New Economic Dynamics in the Zangid and Ayyubid Period’. The extended annotated version of this contribution will appear in Miriam Frenkel and Yaacov Lev (eds.), Charity in the Late Antiquity and Medieval Islam (Abhandlungen für die Kunde des Morgenlandes), Wiesbaden (forthcoming). -
Gunpowder Empires
Gunpowder Empires James Gelvin “Modern Middle East” Part 1 - Chapter 2 expanded lecture notes by Denis Bašić Gunpowder Empires • These empires established strong centralized control through employing the military potential of gunpowder (naval and land-based siege cannons were particularly important). • The major states of the Western Hemisphere were destroyed by European gunpowder empires while throughout the Eastern Hemisphere, regional empires developed on the basis of military power and new centralized administrations. • The world gunpowder empires were : the Ottoman, Safavid, Moghul, Habsburg, Russian, Chinese, and Japanese. • Emperor vs. King Military Patronage State • brought to the Middle East by Turkic and Mongolian rulers • Their three main characteristics are : • they were essentially military • all economic resources belonged to the chief military family or families • their laws combined dynastic laws, local laws, and Islamic law (shari’a) Ottoman Empire - 1st Islamic gunpowder empire • The Ottoman Empire was the first of the three Islamic empires to harness gunpowder. • Most probably the Ottomans learned of gunpowder weapons from renegade Christians and used it to devastating effects in the Battle of Kosovo in 1389. • The Ottomans used the largest cannons of the time to destroy the walls and conquer Constantinople in 1453. They conquered Constantinople the same year when the Hundred Years’ (116-year) War in Europe ended. The Siege of Constantinople (painted 1499) Sultan Mehmed II (1432-1481) on the road to the siege of Constantinople painter : Fausto Zonaro (1854-1929) The Great Ottoman Bombard Prior to the siege of Constantinople it is known that the Ottomans held the ability to cast medium-sized cannon, yet nothing near the range of some pieces they were able to put to field.