Question 1:
What is the meaning of the phrase “resident” for the purposes of Income Tax Act when applied to?
• An individual
• A company
• A society
• A trust
• Any other association or body of persons
Question 2:
Illustrate out clearly how the taxation of a resident distinct from that of a non-resident.
Question 3:
Make a distinction between “economic double taxation” and “juridical double taxation”.
Question 4:
Provide a brief depiction of two techniques which might be employed by countries unilaterally in order to avoid double taxation and illustrate out why they might not be fully effective in practice.
Question 5:
In relation to the rule governing the deductibility of expenditures in connection with employment it has been stated that the provisions of the law are “notoriously rigid, narrow, and restricted in their operation”. To what extent do you agree with this proclamation, paying specific attention to particular provisions of Income Tax Act?
Question 6:
List all the types of expenditures that aren’t authorized for purpose of computing the taxable income of businessman.
Question 7:
List and briefly illustrate out five criteria which can be employed for evaluating the performance of taxation system.