Taxation is the means by which a government or a taxing authority imposes or levies a tax on the individuals and business houses in the country. The rules and regulations revolving around this process are referred to as the taxation laws. While this is one of the popular branches of law, you may still require expert taxation law assignment help during your law program. To give you a brief idea about the taxation laws, let’s discuss the variations of these laws in the major countries of the world.
1. Australian tax assessment law:
Most of the major business taxes in Australia, including the income tax, are collected by the government through the Australian Tax Office (ATO). In some cases, businesses are also subjected to state-based taxes, most commonly for payroll tax. The country also holds a number of tax treaties with more than 40 nations in order to prevent double taxation of foreign companies operating in Australia. If the taxation rules seem a bit confusing at first, you can always rely on the law dissertation writing services available online.
For most employees, the personal income tax is paid by the employer. The employer is generally responsible for subtracting the required level of tax out of the salary of an employee before it is handed to the employee. The employer also remits the amount to the ATO. Even the temporary residents are required to pay taxes on income earned in Australia. Having knowledge of these taxation laws can also help you with expository essay writing services.
2. Tax assessment law in the US:
The International Revenue Code (IRC), the body of statutes, governs tax assessment in the US. It incorporates various administrative duties, including pay, domain, and extract charges. In fact, it is the guideline on government expenses and all enactment regarding the tax assessment law. If you need to write an essay on US taxation laws, you can again find expert essay writer for assistance.
In 1913, the sixteenth amendment to the US constitution was ratified. It states that congress shall have the power to lay and collect taxes on incomes, from whatever source derived, without appointment among the several states.
3. Taxation law in the UK:
In order to safeguard the companies from the fake alteration of UK profits and legalise the companies positioned in low-cost jurisdiction, the Controlled Foreign Company (CFC) rule is used by the UK government.
HM Revenue and Customs (HMRC) is responsible for administering and collecting taxes in the UK. Basic UK taxes include property taxes, income taxes, capital gains, Value Added Tax (VAT), and UK inheritance taxes.
For more information about the taxation laws in these countries, you need to refer to textbooks.
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