The firm converts certain type of transactions in which the tax implication is favorable to the firm. What element in the SAVANT Framework was used in this scenario?(type your answer in small letters)
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- Tax accounting is a service offered by public accounting firms that involves both tax planning and which of the following? Multiple Choice A.)tax compliance B.)tax avoidance C.)tax elimination D.)tax payment. Please explain incorrect and correct option without plagiarismIn your opinion, should “tax arbitrage” be made legal? Discuss and provide examples.Assuming that you were a tax consultant of a certain company, discuss the specific provisions of the TRAIN LAW which you can use in tax planning. Apply your knowledge in tax saving strategies.
- You and Sunny are arguing whether tax laws can be retroactive in its application. Sunny noted that they can only be prospective but you take the stand that it may retroactive. 1. Which of the following would be the least fit example you could give? A. tax laws implementing riles and regulations that are remedial in nature B. tax memoranda that are interpretative in nature C. tax laws imposing business tax D. tax circulars that are intended for internal purposes of BIRWhich is NOT a proper exercise of administrative feasibility?a. Electronic Tax Payment System (eTPS)/Land Bank Remittance System (LBRS)b. Payment of tax thru credit/debit/prepaid cards/G-Cashc. Requirement to all taxpayers to file tax returnsd. Substituted Filing of Qualified Compensation Income EarnersTo assess the tax repercussions, it is crucial to comprehend the type of perks that a firm provides to its employees. True False
- What is the advantage of Making versus Buying? Give a scenario and explain the effect focusing on tax implications.Objective Question: What is a crucial step in the tax return process for businesses that involves identifying eligible expenses and activities to optimize their tax liability? Data collection and organization Compliance with tax laws Depreciation and amortization Strategic tax planningWhat do you find interesting, confusing, surprising or difficult to understand about the treatment of tax in your firm’s financial statements? What new insights, if any, have you gained about how companies account for income tax as a result of examining your firm’s tax expense in its accounts?
- The form of employees compensation ir relevant to tax deductibility of the firm true? or false?You and Jackie are arguing whether tax laws can be retroactive in its application. Jackie noted that they can only be prospective but you take the stand that it may retroactive. Which of the following would be the least fit example you could give? A. tax laws imposing business tax B. tax laws implementing riles and regulations that are remedial in nature C. tax circulars that are intended for internal purposes of BIR D. tax memoranda that are interpretative in natureDiscuss the potential advantages and disadvantages of implementing an internal business processmeasure called total dollar amount of tax refunds generated. Would you recommend using thismeasure in Ariel’s balanced scorecard?