Taxation can be defined as a compulsory financial charge that a government imposes on an individual or a legal entity. The aim is also fund different types of public expenditures. If an individual or an entity fails to pay the tax, then they are punishable under the law.
To deliver finest quality taxation assignments, a student is required to have detailed knowledge, along with superior research methodology. A lot of students find this subject difficult due to lot of calculations. For some students, it is the lack of writing skills that makes tax-related assignment a challenging part of their education. Non-availability of resources to write essays or dissertation is another reason of difficulty related to assignments. The students can get Taxation assignment help from BookMyEssay, which offers assignment writing help & homework support with the help of tax experts.
Categories of Taxes
There are numerous forms of taxes under each category, which include:
Property Tax
The taxes on imposed on real property and some sections of movable property include:
- Millage tax: Simply known as property tax, this is a tax that an owner of a property has to pay to a government. Three varieties of property include land, improvements to immovable property, and movable things.
- Inheritance tax: The beneficiaries of the estate has to pay inheritance tax in the event of the death of the previous owner.
- Expatriation tax: The individuals who renounce their residence or citizenship are levied expatriation tax.
- Transfer tax: Also known as stamp duty tax, it is charged by the government on transactions related to land or securities.
- Wealth tax: it is levied on an individual’s total value of real estate, bank deports, stocks, financial securities, pension plans, and other personal assets.
Goods and Services
The taxes of services and goods vary from country to country. The common types of taxes under this category include:
- Value Added Tax (VAT): In some countries, this tax is referred to as single business tax, turnover tax, or goods & services tax (GST). The customer has to pay VAT for any service or goods purchase by him/her.
- Sales Tax: The final consumer has pay sales tax while purchasing a commodity. Retail companies do not support this type of tax, as they believe sales tax reduces the retail sales.
- Excise Duty: This tax is levied on goods during the stages of manufacturing or distribution. In some cases, excise is imposed to discourage the sales of specific products.
Tariff
When goods are moved through political border, a tax is imposed referred as tariff or customs duty. Several countries form a group called trade bloc under which tariffs are minimized are eliminated to perform trade with each other. Some countries levy tariff to protect their domestic industries.
Income
The tax levied on income is also divided into various sections:
- Income tax: The individuals and business entities have to pay tax on their income in various jurisdictions. The tax has to be paid on net gains, net profits from business, or other income sources.
- Negative income tax (NIT): It is a concept of progressive income tax in which government pays supplemental income to those who earn below a particular amount.
- Capital gains: After selling the capital assets, the individual has to pay taxes on profits received from this transaction.
- Corporate tax: The taxes levied on corporations related to income, net worth, or related taxes are referred to as corporate tax. The taxable base and tax rates for corporations usually vary from those levied on individuals.
Social Security Contributions
In several countries, the employers or/and employees have to make compulsory payments, which are usually utilized for publicly funded health care and retirement systems.
Other Taxes
There are other forms of taxes like license fees, environmental tax, consumption, and payroll tax. There might be some other forms of taxes in some developing countries.
Direct and Indirect Taxes
The taxes are also classified as direct or indirect taxes. The exact meaning of these tax types varies from economy to economy. In general, direct taxes are those that are levied according to the financial condition of a person or an entity. Conversely, indirect taxes are levied on the basis of the nature of transaction, irrespective of the financial condition of the entity or individual.
During your taxation-related education, you might come across assignments based on these classifications of taxes. You can get taxation assignment help for these categories and taxation types.
Dissertation Writing on Taxation
Several finance students face difficulties when it comes to taxation-related dissertation. From choosing topic and writing proposal to doing research, there are multiple issues a student faces during taxation-related topics. The dissertation can be written on topics revolving around how taxation impacts small businesses; health insurance tax; rights of a taxpayer; human rights in tax policy; environment taxes; gambling taxes, international tax treaties; tax transparency; factors affecting tax policies, and international tax treaties. For all these types of topics, the students can receive the taxation assignment help from our assignment experts. The students can also consult these experts for an advice on which topic to choose.
Features of Assignment Help
We offer taxation assignment writing help for all the topics discussed above. If you have a specific topic related to impact of taxes on society or vice versa, you can get our support. We will also offer dissertation writing help on taxation structure or history of a particular country.
We have tax experts who have practical experience from this field. We allocate writers according to the nature of your taxation assignment. This means, will not allocate a writer from the USA if the topic of your assignment revolves around taxation system of the UK.
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