Tax Implications of E-Commerce in Nigeria - 4601 Words

ABSTRACT This paper examines the Tax Implications of E-Commerce. The issue of e-commerce and its tax implications continues to receive a high level of attention because of the fast growth of e-commerce activities. In the emerging global economy, e-commerce has increasingly become a necessary component of business strategy and a strong catalyst for economic development. The integration of information and communications technology (ICT) in business has revolutionized relationships within organizations and those between and among organizations and individuals. Specifically, the use of ICT in business has enhanced productivity, encouraged greater customer participation, and enabled mass customization, besides reducing costs. Even before the†¦show more content†¦Countries might differ over where the presence of a facility, the location of customers, the passage of title or a number of other factors determines where the income arises. E-Commerce facilitates cross-border transactions and as a mechanism has particular relevance to international taxation. Consequently according to Li, Jinyan(2003) while e-commerce might not introduce any new problems, it is apparent that any problem already associated with an inability to synchronize or inter-relate a variety of disparate taxing systems became exacerbated by a model that facilitates the very types of transactions that result in such problems in the first instance. A fundamental change in existing tax rules does not appear to be requisite. However internet and e-commerce has increased the need for efficient and equitable tax treatments of firms operating in multiple tax jurisdictions. Current procedure used by most countries to allocate the tax base between jurisdictions and to avoid double taxation through a network of more than 1,500 bilateral double taxation treaties, is not only cumbersome, but will also come under increasing pressure as the scope and volume of cross border activities expand sharply. This is because the double taxation treaties are based on the assumption of national sovereignty in tax policy, which will become less relevant as globalization progresses. Most discussions with respect toShow MoreRelatedBusiness and Small Scale Industries9686 Words   |  39 PagesTHE ROLE OF SMALL SCALE INDUSTRY IN NATIONAL DEVELOPMENT IN NIGERIA Ayozie Daniel Ogechukwu, Delta State University, Abraka, Delta State, Nigeria, The Federal Polyt echnic, Ogun State, Nigeria Abstract A business whether small or big, simple of complex, private or public is created to provide competitive prices. Business in Nigeria has been classified as small, medium and large. In both the developed and developing countries, the government is turning to small and medium scale industries, as a meansRead MoreRatio Analysis17644 Words   |  71 PagesAS A TOOL FOR DETERMINING CORPORATE PERFORMANCE ( A STUDY OF SELLECTED BANKS IN NIGERIA) RATIOS ANALYSIS AS A TOOLS FOR DETERMINING CORPORATE PERFORMANCE :( A STUDY OF SELECTED BANKS IN NIGERIA) BEING A RESEARCH PROJECT SUBMITTED TO THE POSTGRADUATE SCHOOL IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION (MBA) OF AHMADU BELLO UNIVERSITY,ZARIA NIGERIA DEPARTMENT OF BUSINESS ADMINISTRATION, Read MoreThe Impact of Foreign Direct Investment on Nigeria Economic Growth9932 Words   |  40 PagesCHAPTER ONE INTRODUCTION 1.1 Background of the Study Industrialization has not only changed the way the world do business but also changed the world itself. Fortunately, Nigeria is one of the countries that did not escape its impact. Industrialization is the process of social and economic change that transforms a human group from a pre-industrial society into an industrial one. It is a part of a wider modernization process, where social change and economic development are closely related withRead MoreThe Impact of Foreign Direct Investment on Nigeria Economic Growth9940 Words   |  40 PagesCHAPTER ONE INTRODUCTION 1.1 Background of the Study Industrialization has not only changed the way the world do business but also changed the world itself. Fortunately, Nigeria is one of the countries that did not escape its impact. Industrialization is the process of social and economic change that transforms a human group from a pre-industrial society into an industrial one. It is a part of a wider modernization process, where social change and economic development are closely related withRead MoreThe Accounting Profession and Nat39077 Words   |  157 Pagescorrespondence, enquiries, contributions and research notes should be submitted to: The Editor, The Journal of Accounting, C/o Nigerian College of Accountancy, Plot 42T Bauchi Ring Road, Dogon Dutse, P. M. B. 2734, Jos, Plateau State, Nigeria. Subscription Rates: Nigeria Outside Nigeria - N1000 (Exclusive of postage) N1000 $10 (Exclusive of postage) Prof. Edet R. Iwok Editor-in-Chief iv EDITORIAL Like any other profession, Accounting is not static. It constantly responds to the dynamism ofRead MoreImpact of Monetary Policy on Nigeria Commercial Banks11620 Words   |  47 PagesTHE IMPACT OF MONETARY POLICIES ON NIGERIA COMMERCIAL BANK (A CASE STUDY OF ZENITH BANK P.L.C) For more project materials Log on to Or call +2348130686500 +2348093423853 TERMS AND CONDITIONS Using our service is LEGAL and IS NOT prohibited by any university/college policies You are allowed to use the original model papers you will receive in the following ways: 1. As a source for additional understanding of the subject 2. As a source for ideas for yourRead MoreProblems and Prospects of Marketing6358 Words   |  26 PagesInternational Journal of Business and Management September, 2009 Problems and Prospects of Marketing in Developing Economies: The Nigerian Experience Sunday O. E. Ewah Alex B. Ekeng Department of Business Administration, Cross River University of Technology Ogoja Campus, Nigeria Tel: 80-5901-4300 Abstract The study takes a holistic view of some of the problems facing marketing in developing economies, such as low marketing education, preferences for foreign products and low patronage for non-essentialRead MoreInformation and Communication Technology as Bedrock of the Nation13285 Words   |  54 Pagesrecognizes that Biotechnology, especially genetic engineering provides the potential to make Life Sciences an engine of growth and business for the 1 country. This has led to the establishment of the National Biotechnology Development Agency (NABDA). Nigeria is considered one of the richest countries in Bio-resources with its extensive biodiversity. The Federal Ministry of Science and Technology recognizes this and is therefore collaborating with the Federal Ministry of Environment and other stakeholdersRead MoreImport And Local Production Of Cement Importation9782 Words   |  40 Pages(Mojekwu, Idowu, Sode, 2013). See table below for the import and local manufacturing trend over time Table 3: Cement imports and local production 1986-2011 As seen from the above table 2, between 1999 and 2008 the importation of cement into Nigeria was in excess of local production with millions of metric tonnes per annual. This was due to continue high demand in the domestic market as importation reached its highest peak in 2008 with the import of 6.9mtpa. The lack of investment in the sectorRead MoreFormal and Informal Institutions21073 Words   |  85 PagesAcknowledgements Abstract 1. 2. 3. 4. 5. 6. 7. 8. Introduction Problem statement Objectives and hypothesis of the study Literature review Structure and performance of the financial sector in Kenya Methodology Empirical results Conclusions and policy implications 1 3 4 5 13 20 23 37 40 References List of abbreviations ACK ANOVA GDP ICDC K-REP Ksh MAGs NBFIs NGOs POSB PRIDE ROSCAs SACCOs SCAs SMEs Anglican Church of Kenya Analysis of variance Gross domestic product Industrial and Commercial Development

The Ascent Of Money By Niall Ferguson - 1278 Words

Have you ever finished a book and said to yourself â€Å"Wow, I am going to reread this book again?† Unfortunately, The Ascent of Money by Niall Ferguson is not a book where you will likely reread it, instead you will be saying â€Å"Is it finally over?† Ferguson explains how money came to be in our society by starting off with the first use of currency to the end where money has become something we cannot even touch. As a person who is not interested in the history of money, but interested in my net worth going up, I believe The Ascent of Money by Niall Ferguson did a mediocre job on attempting to persuade us on how money is one of the backbones of human history. Initially, the first issue of the book I did not like, jumping from place to place on the timeline. Ferguson begins with how, before money came about, we â€Å"primitive peoples chanced upon each other, it seems, they were more likely to fight over scarce resources (food and fertile women) than to engage in commercial exchange.† (Ferguson 19). Back then we did not need money; instead we just took what we needed. Then Ferguson jumped right into how the Spanish found gold and silver, then the Roman Empire, and then Mesopotamia. Ferguson should have followed a timeline and it would have made the book less confusing to read. In class, I understood what was going on in between those timelines, however if somebody just picked up the book and started reading it, they would be confused especially with how we came from the Spanish toShow MoreRelatedThe Ascent Of Money By Niall Ferguson1516 Words   |  7 PagesIn The Ascent of Money, Niall Ferguson argues that the progress of money is essential to the progress of man. More importantly, he argues that understanding the history of finance provides some insights into making better financial decisions. Although Ferguson’s book is not an introduction to finance, it contains some well-supported arguments with historical lessons and insights of world finance. Ferguson’s book has many strengths and a few weaknesses. One of the strengths of the book is the organizationRead MoreThe Ascent Of Money By Niall Ferguson1524 Words   |  7 Pages A Critical Review of The Ascent of Money In The Ascent of Money, Niall Ferguson argues that the progress of money is essential to the progress of man. More importantly, he argues that understanding the history of finance provides some insights into making better financial decisions. Although Ferguson’s book is not an introduction to finance, it contains some well-supported arguments with historical lessons and insights of world finance. Ferguson’s book has many strengths and a few weaknesses. OneRead More`` Safe As Houses `` And A Financial History Of The World1113 Words   |  5 PagesNiall Ferguson clearly illustrates several economic principles and findings that are also illustrated in our Macroeconomics class. These concepts are seen in Episodes 5 and 6 of The Ascent of Money of money series. â€Å"Safe as Houses† and â€Å"A Financial History of The World† are both episodes that Ferguson uses to emphasize concepts that are also seen in our Macroeconomics. Some of the concepts that are seen in these episodes are property ownership and the finances that come with the ownership of propertyRead MoreBanking : An Old Aged Idea1501 Words   |  7 Pagesbanking ideas can be linked to money and how money has changed the power of people and countries. It can be proven throughout the history of that money, power, and banks are directly related. The banks and money relate to power because the more ec onomic strength a country has the more they can do military wise. It can also be proved over time that money and power create issues that can be counterproductive to society. In Niall Ferguson’s book, The Ascent of Money, Ferguson connects the conquering ofRead MoreThe True Origin Of Debt1257 Words   |  6 Pagescivilizations that dealt with money. Many argue that money does not buy you happiness however then explain how money dictates the lives we live. Money has a large effect in our lives but we do not realize this until we grow up and become aware of this ourselves. Nevertheless, how was debt created that we would owe an amount of money due to us borrowing it and using it for our personal pleasure? Without going in the topic of debt and money too much, we were taught at a young age how money has created a massRead MoreThe Effects Of The Recession On The Economy And It s Citizens1105 Words   |  5 Pageswho control the well-being of the economy (pg.182). It was ultimately positive thinking contaminated the financial system. This idea of being optimistic in everyday life has carried over into the economies, which has caused individuals to spe nd more money than they are saving. As a result, this action â€Å"builds up credit card debt on expenditures† (pg. 182). As the debts become larger, they become more difficult to pay off. However, it was something that wasn’t of concern to individuals at the time, dueRead MoreDreams Of Avarice : The Rise Of Money And Credit Essay1317 Words   |  6 PagesIn The Ascent of Money Niall Ferguson gives an in-depth historical look at money and finance. He begins with ancient banking practices in ancient Mesopotamia, and finishes his book with his predictions for the near future based on patterns that he sees. In the book he discusses the rise of money and credit; the bond market; the stock market; insurance; real estate; and international finance. Niall Fergusson believes that finance and money was made as a necessity for urbanization and developmentRead MoreThe Socio-Economics of the Industrial Revolution and Its Effects on the American Economy1042 Words   |  5 Pagesbeing created at an astounding rate, consumption from consumers skyrocketed, further increasing the income of the wealthy factory owners (History.com Staff 8). This class lived luxuriously, erecting museums, mansions, and other lavish structures (Ferguson 285). Furthermore, the wealthy, with a greater number of mass-produced goods, also had great material wealth. These factors contributed to the first major growth of a social class in the Industrial Revolution, the upper class. Another class thatRead MoreEconomies of Scale2129 Words   |  9 Pagescongressional committees requesting the banks have more capital than one who can assume the losses. The larger the bank should be more regulations on their capitals (New York Times, July 27, 2009, Editorial). However, the laws do not fully protect public money from the externalities of risk created by the banks. In a majority of cases, bank failures, term assumes the people who pay their taxes. In assessing the effects of size and risk factors, Taleb / Tapiero [2009] choose a significant example of firmsRead MoreThe Prince by Niccolo Machiavelli2045 Words   |  8 PagesIntroduction The Renaissance was the tumultuous rebirth of European literature and art. It started in Florence and was ‘funded by the Medici’ (The Ascent to Money 2009) family. This is particularly significant as Niccolà ² di Bernardo dei Machiavelli, was born into the nobility in the Republic of Florence on 3rd May 1469. He was educated in Latin and then studied at the University of Florence. This fuelled his interest in political theory and so the Medici. During his childhood, Lorenzo de Medici

Food truck analysis free essay sample

Studies have shown that due to the apparent combination of economic and technological factors combined with street food and conforming with being what it is considered in by the young generation; gourmet trucks menus run the gamut of ethnic and fusion cuisine. These street food stalls often focusing on limited but creative dishes at reasonable prices, they offer customers a chance to experience food that they otherwise may not be able to. Street food has also evolved with the growing need of its consumers thus the creation of food trucks. While one truck may specialize in outlandish burgers, another may serve only pizza cones. Due to its popularity, food truck franchises began to form, catering to the public who were searching for these delicious gourmet treats. Gourmet Streets, one of the most respected food truck franchises in America became a huge sensation as a result of this gourmet revolution. Food trucks started in the late 1800s in America by Charles Goodnight as a means of transporting and cooking food for cattlemen. We will write a custom essay sample on Food truck analysis or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Mobile food trucks or roach coaches, was known to serve construction workers and other blue collar professionals. Food trucks nowadays not only serve meals but also desserts. As aforementioned above, some have established themselves as restaurants-on-wheels selling prime meals. Because of the nature of the mobile truck, it can very well serve you any time of the day; whether breakfast, lunch or dinner depending on the time of the trucks arrival. With this, the proponents will be creating a food truck that will sell food for the on-the-go costumer such as students, working professionals and the like. Overview of the Concept The researchers have observed that there is an abundance of Filipinos who patronize street food, fast food and the like. The idea of creating a food truck business in the Philippines is to target and capitalize this said market. As more and more Filipinos are embracing the fast paced trend of today’s society the food truck business will be more than capable of catering to their needs. The food truck will offer a variety of carefully constructed, deliciously invented high protein, high carb, and energy loaded meals served in medium sized proportions. All meat and no green, just pure energy is our motto. Reaserch has proven that the food truck will be very effective with its flexibility and adaptabilty to any area as long as there is a road with hungry, busy people. It will be operated by the 4 owners with 8 hour shifts. The first shift will serve 2 hours for the morning rush then 3 hours catering to the hungry lunch eating machine and the remaining 3 hours will be for the merienda cunsumers who seemingly wont last a day without their afternoon meal. The second shift will focus more on the night market, catering to people who work from dinner time to the wee hours of the morning. Business will start at 6 pm to 2am shifting venues from the pioneer center in mandaluyong to the call center heart of the country, libis. Business Name â€Å"Yeah Men† Meals on Wheels Epic Meal Truck Meat Wagon Type of service Take-out semi dine in Location Mezza norte Taft U-belt Cusina andare (Glorietta 3 park Fri-Sun) Banchetto, Pioneer center and Libis Type of ownership: General partnership Organizational chart: Officers staff of the business (rotation of positions): Manager person who has control or direction of an institution, business Accountant inspecting and auditing financial accounts also helps in taking orders. Cook – does prep work and cooking duties. Expeditor – responsible for calling expediting orders from the customer. Benefits Allowance 1. Free food -the food is free to our entire employee during their work shift. 2. Free Uniform -Our company is provides free uniform for our crew/s. The number of uniform will be based on your time availability. 3. Recognition -once you have been doing well on your job you can be one of our Crew of the Month, Crew of the Quarter Crew of the Year 4. 13th month pay -Every year, you are entitled to a 13th month pay, which is equivalent to ? of your basic salary. This is released not later than December 24. 5. PHILHEALTH -The philhealth program provides benefits for hospital room and board allowance, allowance for medical, laboratory examination, X-ray, surgeon fee, operating room fee, anesthesiologist’s fee, medical and dental practitioner’s fee. However, the allowance will not necessarily cover the total expense incurred. 6. SSS BENEFIT -The Social Security System provides benefits and services to the covered employees and their families. The company and the employees jointly make monthly contributions to the SSS 7. PAG-IBIG -coverage of the PAG-IBIG fund is mandatory upon all employees covered by the Social Security System and earning a monthly compensation of at least P4,000 -the company and the covered employees shall contribute to the Fund an amount equivalent to two precent (2%) of the monthly compensation of each covered employee.

Types of Bankruptcy

Introduction Bankruptcy refers to a federal court process in which repayment arrangements are made to allow an insolvent debtor to clear the outstanding debts. Bankruptcy is often declared when a company or an individual is so deep into debt that starting afresh is the only reasonable option. This paper compares and contrasts the five types of bankruptcy proceedings.Advertising We will write a custom essay sample on Types of Bankruptcy specifically for you for only $16.05 $11/page Learn More Different Types of Bankruptcy The first type of bankruptcy is referred to as liquidation. It can be accessed by individuals, matrimonial couples or business partners. The group or individual seeking to apply for this bankruptcy proceeding must first attend an interview conducted by an agent of a credit counseling agency. The agent is obliged to appear in court during the bankruptcy proceedings. Unlike the other types of bankruptcy, the applicant is delegated a truste e who is expected to oversee the selection of assets that are to be excluded from the bankruptcy. Apart from the assets selected for exemption, the remaining assets are to be sold, and the proceeds used to settle the outstanding debts. The second type of bankruptcy involves municipalities that want to adjust their debts. It is contained in chapter nine of the United States bankruptcy code. This type of bankruptcy is different from the rest because it only is suited for municipalities. Municipalities in this respect include towns, cities, school districts, and counties. The third type of bankruptcy applies to business corporations and is referred to as reorganization. Unlike in liquidation where a trustee is allocated, this type of bankruptcy allows the corporation to design its own restoration plans. These plans for reformation can comprise measures that try to restore the productivity of the company, consolidate debt and begin repayment. Unlike liquidation, the reorganization type of bankruptcy does not seek to purge all arrears immediately. On the contrary, a suitable payment plan is formulated to enable the business to keep all or most of its essential assets while paying its debts. The strategy for reorganization is ultimately ratified or dismissed by the court. The fourth type of bankruptcy involves fishermen and family farmers who have access to regular sources of income. Unlike liquidation, the applicant does not lose any of his assets.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The applicant is instead allowed to repay his debts out of his prospective earnings. A debt repayment plan is designed in a format that the applicant can observe. This bankruptcy is similar to the fifth type of bankruptcy since the debtor is allowed to design a plan for repayment in both cases. It is similar to liquidation with respect to the concept that a trustee is allocated to oversee the repayment. The fifth type of bankruptcy covers individuals who are not necessarily fishermen or farmers, but who must have regular sources of income. It resembles the previous type of bankruptcy since both types deal with people who have regular sources of income. However, unlike the previous, this type of bankruptcy is not restricted to specific professions. Like in liquidation, a credit counselor must be consulted. However, in this case, the work of the counselor is to establish the applicant’s ability to restructure his own debt payment plan. The fifth type of bankruptcy compares with the fourth and third since they all allow the applicants to retain their assets. Unlike liquidation, the insolvents do not acquire instantaneous absolution from debts. Conclusion There are five different types of bankruptcy outlined in the United States bankruptcy code. These types of bankruptcy apply to different individuals and companies and vary according to income, profession and level of debt. It is advisable that each individual or organization examines the different bankruptcy types before settling on one. This essay on Types of Bankruptcy was written and submitted by user Raquel Wilder to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.