...that break out the functions and roles of law in business and society. This is enforced by Congress and many different acts have been passed that in addition to the constitution are the basis of the relationship between law, businesses and society. Mostly it is the basis for how business can or cannot be conducted. The foundation of Congressional powers in business fall under what is called enumerated powers. There are many enumerated powers in which are enforced in business. According to University of Phoenix The Legal Environment of Business: A Managerial Approach: Theory to Practice (2011), “The primary authorization of Constitutional powers is given to Congress under Article I. 2 Congress has enumerated powers in 18 different clauses. The powers that generally impact business owners and managers include (1) the power to regulate commerce ( Commerce Clause ); (2) taxing the citizenry and commercial entities and spending government funds (tax and spend provisions); (3) bankruptcy, patents, and copyrights; and (4) a more general implied authority to make all laws necessary for carrying out its enumerated powers (Necessary and Proper Clause ).” First this explains that Congress has an influence in businesses on how they produce, ship, sell etc. This is a power that comes from the Commerce Clause where Congress can regulate among several states. Congress is able to pass laws when interstate commerce is affected. Another role of law in business is taxes. According to University...
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...The Spanish Taxation System and the Manila Food Market: Indications of an Early Commercialized Economy LUIS ALONSO ALVAREZ Translated from Spanish by Trinidad O. Regala Before the Spanish conquest, Filipinos thrived on a system of mere subsistence.The Spaniards realized that in order for them to effectively maintain control of the colony they must improve the production of food and resources in the islands. To do this, the Spaniards instituted revenue-generating measures such as systematic taxation and compulsory sale of agricultural products to the colonial government. Later, having been introduced to better farming equipment, the natives were able to practice a more intensive form of agriculture that enabled them to sell to Chinese traders at higher market prices and fulfill their tax requirements. The 16th century galleon trade and a war against the Dutch, both of which required a vast array of construction materials and manpower, put an enormous strain on food and supply requirements and prompted colonial authorities to implement more coercive taxation and forced labor. By the 17th century, a survey of Manila provisions revealed growing mercantilism and a stable food supply owed to improved trading and surplus from trade and friar farmlands. No longer dependent on galleon trade, new patterns of consumption, foreign demand for agrarian resources and a legitimate labor market at the beginning of the 19th century signaled the era of modernization and growth for the Philippine...
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...market-oriented legislative and judicial environment is still emerging. D. Unlike in the U.K., where auditors receive support from the established professional bodies, these support mechanisms are still lacking in China. II. The recent economic reform program stimulated the growth of the accounting profession in China. A. With the recognition by the State of joint stock company form, the demands for financial information from investors and other interested parties increased. B. The establishment of two stock exchanges helped rapid growth of the accounting activities. C. Various government regulations on the implementation of economic reform measures require the involvement of independent auditors. D. The laws on joint ventures with foreign companies require the audit of annual statements. E. International accounting firms were allowed to be involved in training local auditors and setting auditing standards. III. There are clear signals that Anglo-American...
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...The objective of this paper is to argue the need for tax reforms specifically aimed at addressing global issues in an increasingly interconnected world where tax laws are not designed for the digital age. It highlights the issues faced by countries due to ‘Base Erosion Profit Shifting ‘. The emphasis is mainly on two taxes, namely, ‘Diverted Profit Tax’ and ‘Digital Goods and Service Tax’, which are recently mentioned in the Australian Budget 2015. Organisation for Economic Co-operation and Development’s (OECD) involvement to concrete changes to avoid Base Erosion Profit Shifting (BEPS) has been mentioned. UK’s ‘Google tax’ and the ‘Double Irish Dutch sandwich’ tax evading structure is explained in an effort to elucidate the steps taken by Australian Government to encounter issues similar to them. Facts are stated with regard to the current Australian economy meshing these two new taxes into the existing taxation system. A conclusion is drawn concisely assessing the enforcement of ‘Digital GST’ and ‘Diverted Profit’ taxes and their probable effects on the economy. 1. The need for comprehensive tax reform One of the prime ways of generating economic revenue is to improve the tax capabilities. A good tax system promotes sustainable growth, provides key platform for trade and investments and strengthens the accountability of government to their citizens. The growing complexity in business and technological advances has made it difficult for the existing tax system to keep in pace...
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...COMMITTEE ON FINANCE on May 15, 2012 Prepared by the Staff of the JOINT COMMITTEE ON TAXATION May 14, 2012 JCX-40-12 CONTENTS Page INTRODUCTION AND SUMMARY I. 1 GENERAL RULES REGARDING THE TAXATION OF INDIAN TRIBES AND TRIBAL MEMBERS AND THE TAXING POWERS OF INDIAN TRIBES ................. 3 A. Income Taxation of Indian Tribes and Wholly Owned Tribal Corporations................ 3 1. Federal income taxation of Indian tribes and wholly owned tribal corporations ... 3 2. State taxation of Indian tribes ................................................................................. 4 B. Tax Treatment of Enrolled Members of Indian Tribes ................................................. 7 1. Federal tax............................................................................................................... 7 2. State tax................................................................................................................... 7 C. Taxing Powers of Indian Tribes .................................................................................... 9 D. Alaska Native Settlement Trusts................................................................................. 10 II. SELECTED FEDERAL TAX RULES AND ISSUES RELATING TO INDIAN TRIBES AND THEIR MEMBERS .................................................................................. 12 A. The General Welfare Doctrine .....................................................................
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...Should the NFL Expand into Mexico? The NFL generates roughly $9.2 billion in revenue each year (Boudway 2014), but like most American companies it must find a way to expand its brand internationally. All thirty two of the NFL’s teams currently operate within the United States, though three games a year are played at Wembley Stadium in London, UK. Expanding football globally presents a challenge to the NFL because the game is not widely played throughout the world. While its television contracts of $7 million per year (Kottasova 2014) remain the world’s most lucrative, interest and participation outside the United States is much smaller than other sports. While it is agreed upon that the NFL needs to expand globally to continue to grow its business, they are presented with several options as to how to accomplish this. The current arrangement of playing several games a year overseas has been in place since 2007, and the NFL seems content to continue this practice. Some believe that the NFL ultimately wants to permanently move a franchise to a foreign country, with London, Toronto, and Mexico City being discussed as potential destinations. Despite last playing a game in Mexico City in 2005, the city presents an intriguing variety of opportunities and threats to the NFL. I believe that these threats outweigh the opportunities and the NFL should look into alternative strategies to capitalize on the growth of the Hispanic market. Like many American companies, the NFL would...
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...however cost somewhat more, due to the relatively lower yield of cannabis compared to tea and tobacco, and the high level of U.S. labor costs. Cultivation expert Ed Rosenthal estimates that domestic labor costs could be as high as $5 per ounce. Advertisements from medical catalogs indicate that cannabis cost about $2.50-$5 per pound in 1929-30. [01] Adjusting for inflation, this works out to $1.20-$2.40 per ounce, a breathtaking 100- to 300-fold reduction from today's illicit prices, which range from $100- $200 per ounce for low-grade Mexican to $400- $600 per ounce for high-grade sinsemilla. Abstract: Marijuana legalization offers an important advantage over decriminalization in that it allows for legal distribution and taxation of cannabis. In the absence of taxation, the free market price of legal marijuana would be extremely low, on the order of five to ten cents per joint. In terms of intoxicating potential, a joint is equivalent to at least $1 or $2 worth of alcohol, the price at which cannabis is currently sold in the Netherlands. The easiest way to hold the price at this level under legalization would be by an excise tax on commercial sales. An examination of the external costs imposed by cannabis users on the rest...
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...different GAAP. II. A variety of factors influence a country’s accounting system. A. Legal system – in code law countries, accounting rules tend to be legislated; common law countries tend to have a non-legislative organization that develops accounting standards. B. Taxation – financial statements serve as the basis for taxation in many countries. In those countries with a close linkage between accounting and taxation, accounting practice tends to be more conservative so as to reduce the amount of income subject to taxation. C. Providers of financing – in those countries in which family members, banks, and the government are the major providers of business finance, there tends to be less demand for public accountability and information disclosure. In countries where shareholders are a major provider of financing, the demand for information made available outside the company becomes greater. D. Inflation – countries with chronic high inflation adopt accounting principles in which traditional historical cost accounting is abandoned in favor of inflation adjusted figures. E. Political and economic ties – through previous colonization, a British style of accounting is used throughout most of the former British Empire. Ties between countries also help to explain similarities between the U.S. and Canada, and increasingly, the U.S. and Mexico. III. Differences in accounting across countries cause several problems. A. Consolidating foreign subsidiaries...
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...The United Nations’ Role in International Tax Policy A Research and Policy Brief for the Use of the NGO Committee on Financing for Development Hamrawit Abebe, Ryan Dugan, Michael McShane, Julie Mellin, Tara Patel, and Linda Patentas Graduate Program in International Affairs, Milano School of International Affairs, Management, and Urban Policy, The New School March 7, 2012 TABLE OF CONTENTS EXECUTIVE SUMMARY BACKGROUND AND PERSPECTIVES BACKGROUND AND ANALYSIS THE OECD, G77, G20, AND EU ON UPGRADING THE UN TAX COMMITTEE KEY INSTITUTIONAL PLAYERS ARGUMENTS FOR AND AGAINST A UN TAX BODY 3 4 8 12 17 REFLECTIONS AND RECOMMENDATIONS RELATIONSHIP BETWEEN OECD AND UN TAX COMMITTEE GLOBAL TAX POLICIES POLICY RECOMMENDATIONS 20 28 38 APPENDIX GLOSSARY AND ACRONYMS REFERENCES 44 48 52 2 Executive Summary The report provides an analytical view on the role of the United Nations in tax policy, highlighting the interventions made by and challenges to key players in attempts to streamline global tax cooperation. The first section of the paper provides a background on the importance of tax related issues, emphasizing its importance within the Monterrey Consensus. Debates are introduced between two key institutional players regarding global tax cooperation, the OECD’s Committee on Fiscal Affairs and the UN Tax Committee. Views from key players the OECD, Group of 77, Group of 20, and European Union are addressed in the areas of international tax cooperation...
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...In 1607, one hundred and four Englishmen were sent to North America to begin a new settlement. They settled in Tsenacommacah, an area near Chesapeake Bay. The men established the colony as Jamestown. After disputes in England, puritan separatists left England on their own financing and settled a new colony, Plymouth, in 1620. While both Jamestown and Plymouth originally established a legislative government, they diverged by the people of Jamestown seeking money and those of Plymouth looking for religious freedom. The settlers at Jamestown were members of the Church of England, contradicting the settlers at Plymouth who were separatist from the Church of England. The settlers that came to what is known as Jamestown and Plymouth were...
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...Joe Mittelstaedt Instructor Baasen English 101-24 09 December 2008 Legalization of Marijuana On August 2, 1977 President Jimmy Carter expressed his belief in a message to Congress that: "Penalties against drug use should not be more damaging to an individual than the use of the drug itself. Nowhere is this more clear than in the laws against the possession of marijuana in private for personal use" (NIDA, Government). Marijuana is the third most popular recreational drug in America; right behind alcohol and tobacco. Nearly 80 million Americans have tried the drug during their lifetime. Roughly 20 million Americans have smoked marijuana in the past year, and more than 11 million do so on a regular basis (NORML, About). It is rather obvious how the majority of Americans feel about marijuana consumption; why do our current public policies deny this reality? It should not be the ability of the government to force citizens not to indulge in recreational drug use. Instead, this decision should lie within each individual. Marijuana laws need to be revised on a state and national level in order to benefit both the citizens and the government. Marijuana is a mixture of the leaves, stems, seeds, and flowers resulting from the hemp plant Cannabis sativa. The main mind-altering ingredient present in marijuana is delta-9-tetrahydrocannabinol; better known as THC (NIDA, Infofacts). A few slang terms for marijuana are pot, weed, grass, herb, chronic, ganja, reefer. The use of marijuana...
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...marijuana in some states will there be a widespread across the united states? While Federal and State Laws may prohibit Marijuana use, many states are Considering legalization and some have already done so with both medicinal and recreational, its Likely of a widespread across the United States. Federal government has set regulations that are developed, these regulations are followed by what is called the Controlled Substance Act (CSA), which does not recognize the difference in the use between recreational and medicinal use. (Americans For Safe Access, 2014) According to Americans for safe access(2014) The Controlled Substance Act has classified Marijuana as a schedule one drug, its a controlled substance that is treated as any other drugs such as heroin, or cocaine. Along with the CSA, there is the Drug Enforcement Administration (DEA), According to Dea.gov (n.d.) The Drug Enforcement Administration has a mission to “is to enforce the controlled substances laws and regulations of the United States and bring to the criminal and civil justice system of the United States " Marijuana is illegal, and use is prohibited through federal laws, but many state laws have legalized the use for recreational and medicinal. State laws vary state to state. There are so many different laws on marijuana use, whether it be for recreational or medicinal. Many people feel that the laws on marijuana have to do with whether the state considering legalization is a commonwealth or not, but...
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...IRAC Method of Case Study Analysis Nsima Etok and Christopher Dunbar Business Law 531 March 31 2015 Gregory Martins Introduction In any type of business, whether it is partnership, Limited Liability Company (LLC) and or a Corporation, these are seen as different types of businesses that involves one, two or more People. The same is implied to businesses that are operated internationally between different Companies and Organizations across the globe which deals with either importing or exporting of products or other items of trade. It is therefore necessary that in this type of business, all the parties involved have to look into so many factors as will be analyzed in this paper from demographic, security, culture and values and other related issues which are more relevant to the smooth operation of the business and not forgetting the legal consequences from the business which is very paramount. Abstract With the increasing focus on globalization form(s) and companies operating their network of business activities across the globe, There are issues to be considered while dealing with those things that helps in streamlining how any business can operate effectively. Some of these are: Economy, Environment, Ethics, Social. It is obvious that when engaging in international business, the different parties must look into the merits and de-merits of their business operation and the overall impact on the business. (Thinkingbookwom...
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...States and United Kingdom is very similar as might be expected given the importance of the historical and investment connections between the two countries. Just as the language and legal system were exported from the United Kingdom to the United States. | Cont.The securities markets are the dominant influence on accounting regulation in the United States. Dealings in securities and investor protection are regulated and enforced at the federal government level under the Securities Act of 1933 and the Securities Exchange Act of 1934, which were passed in response to the stock market crash of 1929 and subsequent financial crises. The Securities and Exchange Commission (SEC) was established with the legal authority to enforce the securities laws and also to formulate as well as enforce accounting standards. However, the SEC recognizes as authoritative the "Generally Accepted Accounting Principles" (GAAP) embodied in standards issued by an independent Financial Accounting Standards Board (FASB), which was established in 1973 following criticism of the standard setting procedures of the American Institute of Certified Public...
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...Business School Course Title: MSc Academic Year: 2010/2011 Deadline Date: August 31, 2011 Module Code: BMS0013 Module Title: Postgraduate Dissertation Dissertation Title ------------------------------------------------- A Study for Implementation of Electronic Government upervisor Name: Stephen Gibbs Student Name: ALMABROK ALHUMRY ID Number: 1072062 Word Count: 17,711 Table of Contents Acknowledgements 5 Abstract 7 1. Chapter One: Introduction 9 1.1 Introduction 9 1.2 Research Title 10 1.3 Research Question 10 1.4 Aims of Research 10 1.5 Research Background 10 1.6 Research Scope and Limitations 11 1.7 Research Objectives 12 1.8 About Libya 13 2. Chapter Two: Literature Review 14 2.2 E-Government Benefits 14 2.3 E-Government for Developing Countries 16 2.4 Characteristics of Electronic government Services 17 2.5 E-Administration___ A part of e-government 18 2.6 Existing Administration System of Libya 19 2.8 E-Government in Libya 26 2.9 ICT Knowledge in Libya 28 2.10 E-Government Problems in Libya 30 2.12 Stages of E government Development 32 2.17.2 Training Public Employees for E-Government 41 2.18 Risks associated with E-government 42 2.19 Summary of Literature Review 42 3. Chapter Three: Research Methodology 48 3.1 Research Design 48 3.2 Research Methodology 49 3.3 Conceptual Framework 50 4. Chapter Four: Research Analysis 63 4.1 Research Limitation 63 4.2 Analysis Plan 64 ...
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