...1) Product: Shoes The raw material is plastic, then transformed into stylish shoes and sandals, that can be used day or night, for work or party time, each shoe has its own style and message to pass on. 2) Target Market: Age: 15 – 35 Gender: Female Income: 20.000 per year and above Marital Status: Any Sexual Orientation: Any Occupation: Student, worker, stay at home mum Social Activities: Shopping, hang out with friends, drinking, dinning out, internet, movies and partying. 3) Benefits: • All shoes and sandals are made of plastic, therefore they are easy to be cleaned, and can be used in any weather. • With different styles, you can have one for each occasion, or you can use the same one to work and party, depending on your own style. 4) Brand Name: Melissa Logo: [pic] Slogan: Style at your feet Image: Fashionable Women [pic] 5) Packaging A carton box that will come in different colours and designs that can be used for storage, each shoe will come in a stylish plastic bag inside the box. [pic] 6) Promotional Deals: ...
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...A CUSTOMER DEFECTION ANALYSIS FOR: LIBERTY TAX SERVICE Prepared By Alexandra Burge Teale Hocker Anna Schoonover Andy Ward Presented to Dr. James Walker for Strategic Marketing February 27, 2013 TABLE OF CONTENTS TABLE OF CONTENTS i EXECUTIVE SUMMARY ii INTRODUCTION 1 Background Information 1 Literature Review 2 METHOD 3 RESULTS 4 RECCOMENDATIONS 5 CONCLUSION 7 ACKNOWLEDGEMENTS 8 WORKS CITED 9 APPENDIX A 10 APPENDIX B 11 EXECUTIVE SUMMARY A customer defection analysis was carried out for Liberty Tax Service, referred to as Liberty Tax, to determine why customers had defected and provide recommendations on how to retain current and future customers. The analysis was based upon a survey performed on 20 of the 280 customers who had Liberty Tax perform their tax services in 2012 but did not return in 2013. The results of the analysis were divided into controllable, and uncontrollable reasons that customers defect. Controllable reasons found included poor customer service (10%), speed of service (30%) and opting for an online or do-it-yourself tax service (35%). An uncontrollable reason was that customers were moving from the area (25%). The analysis showed that if Liberty Tax retained all the customers who defected in the last year for controllable reasons they would increase revenues by $50,400.00. Finally, four recommendations to help improve retention and capture the lost revenues are given. It is recommended that employees receive more...
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...our hard earned money going to the government may seem like a great idea; however we often rely on the services that are funded by personal income tax. Reducing the funding for these services and programs will affect the quality and quantity the government is able to provide. Many citizens rely on the government for important programs such as Medicaid and Child Protective Services. Not only does this affect the programs and services government provides and the citizens who depend on those programs, but it also may affect the state and local government when it comes to finding new funding. Arizona provides various programs to the people at low or no cost. The majority of the funding for these programs comes from the General Fund. The General Fund has various monetary sources, the second largest being personal income tax. This accounts for 33% of the fund. The General Fund has no restriction on how the money is spent. This is the most important fund. It seems to be the center for everything. The General Fund finances things such as education, corrections, health services, and many other services and programs. The General Fund provides over 1billion dollars to Medicaid, which makes it the main financial source for this program. Corrections receive just under a billion dollars from the General Fund. The General Fund also plays a large role in funding programs dealing with economic security. Over 6 million dollars is provided for these services and programs. The Department of Education...
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...Financial Management Project: Tax Environment and Its Relation with Financial Management Submitted By: Hooria Majid Submitted To: Sir Khalid Mehmood ACKNOWLEDGEMENT I would like to thank Allah Almighty for giving us the courage and devotion to complete this project. I am highly grateful to our advisor Mr. Khalid Mahmood whose supervision and guidance in relation to selection of material for perusal and formatting of the research paper helped us to do the work on time and in a professional manner. I extend my gratitude towards University of Lahore Islamabad Campus for giving me such kind of opportunities. Thank you Hooria Majid ABSTRACT Taxes affect citizens, economy of the country, businesses, governance mechanisms, etc. Not only revenue mobilization, an effective system of taxation helps in formalizing the economy, encourages economic growth, shapes political cohesion between tiers of the Government, and results in increase in social sector service delivery. We are now quite used to hearing the rhetoric by the government and bureaucracy on how Pakistan has one of the world’s lowest tax to GDP ratios since long...
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... 4 1.2 What is GST 6 1.3 Why is GST implemented 8 1.4 Difference between GST and SST 9 1.5 General operations of GST 10 1.5.1 Goods and Services Tax (Zero-rated supply) Order 2014 11 1.5.2 Goods and Services Tax (Exempt supply) Order 2014 132. Content 14 2.1 Effect of implementation of Goods Services Taxes (GST) in Malaysia 14 2.1.1 GST are regressive tax or progressive tax? 14 2.1.2 Effect of implementation of GST on inflation based on CPI 16 2.1.3 Effect of implementation of GST on the household income 19 2.2. Impact of GST on sub regions of Malaysia 24 2.2.1 How GST improve the standard of living 29 2.3. The...
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...VALUE ADDED TAX (VAT) SCHEME ON THE REVENUE GENERATION CAPACITY IN GHANA A LONG ESSAY PRESENTED TO THE SCHOOL OF ARTS AND SOCIAL SCIENCES (SASS), REGENT UNIVERSITY COLLEGE OF SCIENCE AND TECHNOLOGY, IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF BACHELOR OF SCIENCE DEGREE IN ACCOUNTING AND INFORMATION SYSTEMS NII TORTO QUAO (022 0207) DECEMBER 2009 DECLARATION I hereby declare that this long essay is the original research undertaken by me, including all references from other books, handouts, internet, magazines, textbooks, etc under the supervision of the under signed lecturer. Mr. Albert Akanferi …………………………….. ……………………………….. (Supervisor) Signature Date Nii Torto Quao …………………………….. ………………………………. (Student) Signature Date i ABSTRACT A strong and efficient tax system provides the basis for enhanced economic growth and development. Ghana’s fiscal structure prior to 1983 had generally been characterised by low tax revenue. As a result Ghana undertook a number of reforms prescribed by the International Monetary Fund and the World Bank under the Economic Recovery Programme (ERP) and the Structural Adjustment Programme (SAP). Tax reforms constituted one of the essential ingredients of SAP. The tax reform process has assumed diverse dimensions over the pass two and half decades. One of those tax reforms was the Value Added Tax scheme (VATs). The purpose of this study is to assess the impact of the VATs on revenue mobilisation in Ghana using tax buoyancy...
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................ 3 Effects of Tax systemt .................................................................................................................................. 4 Evaluation of Tax Reforms……………………………………………………………………………………………………………………..10 Conclusion…………………………………………………………………………………………………………………………………………....11 References…………………………………………………………………………………………………………………………………………….14 Easa Faheem S11422649 Bachelors Degree in Human Resource Management 1 Subject code: BBEK1103 Subject: Principles of Microeconomics Preface This is a work done as part of the module „Principles of Microeconomics‟, which is part of the course Bachelor of Human Resource Management. Consisting of an analysis of a Tax reforms for Maldives, this assignment evaluates the purpose of the tax system, types of tax systems, effects of the tax reform systems to the economy and other factors which affect it. The objective of this work is to develop students‟ ability to analyse the critically tax reform systems of certain country, as well as the various external factors that have an impact on the economy and other aspects. The assignment begins with a general preface followed by the various components of analysis with a bibliography at the end. Easa Faheem S11422649 Bachelors Degree in Human Resource Management 2 Subject code: BBEK1103 Subject: Principles of Microeconomics Introduction Until, 2nd October 2011, revenue of government of republic of Maldives is depending...
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...BIN RODIN 01-201106-00434 LECTURER: MRS. DIANA SALES AND SERVICE TAX Objective Service Tax is a form of indirect tax imposed on specified services called "taxable services". Service tax cannot be levied on any service which is not included in the list of taxable service. Sales tax is a single stage tax imposed at the import or manufacturing levels. In Malaysia, manufacturers of taxable goods are required to be licensed under the Sales Tax Act 1972.. Concept Companies with a sales turnover of less than RM100,000 and companies with Licensed Manufacturing Warehouse(LMW) status are exempted from this licensing requirement . A service tax applies to certain prescribed goods and services in Malaysia including food, drinks and tobacco; provision of rooms for lodging and premises for meetings, conventions, and cultural and fashion shows; health services, and provision of accommodation and food by private hospitals. The tax also applies to professional and consultancy services provided by accountants, advocates and solicitors, engineers, architect, surveyors (including valuers, assessors and real estate agents), advertising agencies, consultancy firms, management service provider, insurance companies, motor vehicle service and repair centres, telecommunication services companies, security and guard services agencies, recreational clubs, estate agents, parking space services operators and courier service firms. Certain non-essential foodstuffs and building materials...
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...GOODS AND SERVICES TAX (GST) IMPLEMENTATION IN MALAYSIA CHAPTER ONE - INTRODUCTION 1.1 Backgroud of Study Malaysian taxation system is generally divided into two, which are direct taxes and indirect taxes. Indirect taxes are controlled by the Royal Malaysian Custom Department (RMCD) and it consists of four components such as excise duties, customs duty, sales tax and service tax. Direct taxes are under the control of the Inland Revenue Board of Malaysia (IRBM). The IRBM is responsible for all policies relating to direct taxes such as income tax of individual and business, petroleum income tax, real property expansions tax, and stamp duty. From the government perception, taxation is a vital economic tool because it can be employed to regulate the economy, to invigorate economic growth through the granting of fiscal incentives as a principal aim of implementing tax policies and to provide funds for development projects (JeyapalanKasipillai, 2005). The contribution of direct taxes and indirect taxes to government revenue in 2009 amounted to RM78.375 billion (49.4%) and RM28.129 billion (1 7.73%), respectively. This shows that taxation contributes more than 60% to the Malaysian government revenue. Recently, the Malaysian government established the implementation of goods and services tax (GST) to replace Sales Tax and Services Tax (SST). The GST plan was first raised in 1988 but at the time it was considered unnecessary because the sales tax and services tax was effectively...
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...been introduced in 2015 budget. The first issue is about individual tax. The first change is that the income tax rate is reduced by 1 to 3% for resident individuals depending on different levels of chargeable income since Year of Assessment (YA) 2015 (KPMG, 2014). This results in that tax payers with family and income of Rm4,000 per month will not have tax liability. Besides, the income tax rate for non-resident individuals is reduced by 1% from 26% to 25% (KPMG, 2014) Chargeable Income(RM) | Current Tax Rate (%) | Proposed Tax Rate (%) | Reduction(%) | 1—5,000 | 0 | 0 | - | 5,000—20,000 | 2 | 1 | 1 | 20,001—35,000 | 6 | 5 | 1 | 35,001—50,000 | 11 | 10 | 1 | 50,001—70,000 | 19 | 16 | 3 | 70,001—100,000 | 24 | 21 | 3 | 100,001—250,000 | 26 | 24 | 2 | 250,001—400,000 | 26 | 24.5 | 1.5 | Exceeding 400,000 | 26 | 25 | 1 | This tax brackets illustrates the chargeable income is raised from RM100,000 to RM400,000 and the rate for chargeable income band exceeding RM100,000 is structured into three bands with reduced rates of 24%, 24.5% and 25%, which results in existing taxpayers receiving a saving of at least 5.3% (Reuters, 2014). It is significant to note that the deduction in tax rates is expected to provide tax saving for individuals This significant change in income tax rate aims to increase the disposable income of individuals and in line with GST implementation. Secondly, Malaysian government also suggests making an adjustment on the stamp duty...
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...Indexing and Abstracting: Ulrich's - Global Serials Directory Goods and Services Tax (GST): A New Tax Reform in Malaysia Nor Hafizah Abdul Mansor Faculty of Accountancy Universiti Teknologi MARA (UiTM), Malaysia Email: norha058@johor.uitm.edu.my Azleen Ilias College of Business and Accounting, Universiti Tenaga Nasional (UNITEN), Malaysia Email: Azleens@uniten.edu.my Abstract The Goods and Services Tax (GST) is becoming one of the most prominent topics in Malaysia. The announcement by the Malaysian Ministry of Finance (MOF) in the Budget 2010 on the implementation of GST had created various reactions from practitioners, academicians, general public and most important businesses. GST is one of the tools that are proposed by the Government to reduce continuous deficit budget in Malaysia. This paper discusses the GST as a new tax reform in Malaysia, and covers several issues in order to enhance the understanding and readiness among Malaysian in adopting GST. Keywords: Tax reform; GST; budget deficit. 1. Introduction The introduction of Goods and Services Tax (GST) was first announced in the Budget 2005 in order to replace the existing sales and services tax structure in Malaysia. This new tax reform is projected to be implemented in January 2007. However, the Government has announced on 22 February 2006 that the implementation would be postponed to a later date. Recently in Budget 2010 the Government is currently at the final stage of completing the study on the implementation...
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...Overview of GST GST (good and service tax), other words it also known as VAT (value added tax). It have implemented in many countries throughout the world. Currently there are 170 counties in the world that have implemented GST /VAT. NO REGION No of country 1 ASEAN 7 2 Asia 19 3 Europe 53 4 Oceania 7 5 Africa 44 6 South Africa 11 7 Caribbean, Central and North America 19 Table 1: No of countries implement GST/VAT Sources: Ministry of Finance GST is a multi-stage tax system, this is due to its nature which the tax is collected based on the supply of goods and services at each of the supply chain from the supplier to the retailer stage of the distribution. Even though GST is imposed at every stage of the supply chain, but the tax element will be not become a part of the cost of the product, because the GST paid on the business inputs is claimable as input tax. Where the business will pay the GST as output tax and claim for the input tax from the customs. In addition, it does not matter how many stages where a particular goods and services goes through the supply chain because the input tax incurred at the previous stage is always deductible by the businesses at the next in the supply chain. GST consider as a broad based consumption tax, which includes all sectors of the economy. In Malaysia the GST have been establish in a very clear manner, for example all goods and services made in Malaysia including...
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...Malaysian government has implemented a new tax called Goods and Service Tax (GST) in 1st April 2015. What actually is GST? GST is a multi-level secondary tax imposed on local consumption or products. It is also acknowledged as Value-Added Tax (VAT) in other countries. Many other neighbor countries of Malaysia have already been implementing GST for a very long time. It is a wide based tax which will be taxed on what you have spent, and this will have an effect from all parties of the product from manufacturing to the very last stage sales. GST is charged based on a tax-on-value-add which escapes from tax repetition. GST have a different characteristics compared to the Sales and Service Tax (SST), which SST is only added one time. GST was firstly proposed by the government in 2011 to substitute the current SST, but was met with much opposition from the community, partially due to the effect of a price raise in essential goods, but also partly due to the deficiency of transparency around the current consumption tax systems in Malaysia. Not every goods are taxable from GST, most essential goods are exempted from being tax by GST and so the current Malaysia had implemented GST. The Government’s choice in implementing GST is correct, it is because the prices of crude oil have decrease more than 50% from a benchmark of USD100 per barrel in the year 2014. PETRONAS funds a certain sum of dividend to the government every year. The quantity of dividend paid is highly reliable on the global...
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...well-developed tax structure with clearly demarcated authority between Central and State Governments and local bodies. Central Government levies taxes on income (except tax on agricultural income, which the State Governments can levy), customs duties, central excise and service tax. Value Added Tax (VAT), (Sales tax in States where VAT is not yet in force), stamp duty, State Excise, land revenue and tax on professions are levied by the State Governments. Local bodies are empowered to levy tax on properties, octroi and for utilities like water supply, drainage etc. In last 10-15 years, Indian taxation system has undergone tremendous reforms. The tax rates have been rationalized and tax laws have been simplified resulting in better compliance, ease of tax payment and better enforcement. The process of rationalization of tax administration is ongoing in India. Since April 01, 2005, most of the State Governments in India have replaced sales tax with VAT. 1.Direct Taxes a. Taxes on Corporate Income Companies residents in India are taxed on their worldwide income arising from all sources in accordance with the provisions of the Income Tax Act. Non-resident corporations are essentially taxed on the income earned from a business connection in India or from other Indian sources. A corporation is deemed to be resident in India if it is incorporated in India or if it’s control and management is situated entirely in India. Domestic corporations are subject to tax at a basic...
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...Definition of 'Value-Added Tax - VAT' A type of consumption tax that is placed on a product whenever value is added at a stage of production and at final sale. Value-added tax (VAT) is most often used in Eurepion union. The amount of value-added tax that the user pays is the cost of the product, less any of the costs of materials used in the product that have already been taxed. For example when a television is built by a company in Europe the manufacturer is charged a value-added tax on all of the supplies they purchase for producing the television. Once the television reaches the shelf, the consumer who purchases it must pay the value-added tax that applies to him or her. A value added tax (VAT) is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the value added to a product, material, or service, from an accounting point of view, by this stage of its manufacture or distribution. The manufacturer remits to the government the difference between these two amounts, and retains the rest for themselves to offset the taxes they had previously paid on the inputs. The purpose of VAT is to generate tax revenues to the government similar to the corporate income tax or the personal income tax. The value added to a product by or with a business is the sale price charged to its customer, minus the cost of materials and other taxable inputs. A VAT is like a sales tax in that ultimately only the...
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