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1. Introduction - general aspects of taxes and tax law: a. Tax definition. b. Tax classification. c. Obligatory and facultative components of tax. d. Tax system.
Tax legislation is interpreted using the doctrine of precedent, a process not used in interpretation of financial accounting standards. There are five key differences between tax concepts and accounting principles.
Tax Law and Policy. Taxes fund the largest entities in the world, have a first-order influence on all economic activity, create incentives and subsidies that shape behavior as strongly as any regulation, and are the primary channel for distribution of wealth through law.
Tax law or revenue law is an area of legal study in which public or sanctioned authorities, such as federal, state and municipal governments (as in the case of the US) use a body of rules and procedures (laws) to assess and collect taxes in a legal context.
1. Introduction - general aspects of taxes and tax law. Tax definition and tax classification. 2. Tax functions and significance of taxes. 3. Basic elements of tax legal construction: subject and object of taxation, tax base and tax rate, time limits for payment and payment conditions. 4. Tax principles and sources of tax law. Interpretations ...
tax law, body of rules under which a public authority has a claim on taxpayers, requiring them to transfer to the authority part of their income or property. The power to impose taxes is generally recognized as a right of governments.
We will investigate what a tax system should look like and what ideals it should have and then we study whether a particular tax system might meet those ideals and the extent to which those ideals can operate in the real world of today.
