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Tax-free Shopping
Tax-free shopping (TFS) is the buying of goods in another country or state and obtaining a refund of the sales tax which has been collected by the retailer on those goods. The sales tax may be variously described as a sales tax, value added tax, goods and services tax (GST), value added tax (VAT), or consumption tax. Promoting tax-free shopping and making it easier for tourists to claim the refund back has helped to attract travellers to many countries. TFS is subject to national regulations, such as minimum spend and restrictions on the types of products on which it can be claimed. Refunds can only be claimed on goods which are exported. Buying goods tax free does not mean travellers are exempt from paying applicable taxes on their purchases when they get home; however, they will generally be able to benefit from an allowance of a certain amount on import. Tax-free shopping countries Fifty-four of the 130 countries that levy VAT/GST allow foreign visitors to have their taxes rei ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales Tax
A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a governing body directly by a consumer, it is usually called a use tax. Often laws provide for the exemption of certain goods or services from sales and use tax, such as food, education, and medicines. A value-added tax (VAT) collected on goods and services is related to a sales tax. See Comparison with sales tax for key differences. Types Conventional or retail sales tax is levied on the sale of a good to its final end-user and is charged every time that item is sold retail. Sales to businesses that later resell the goods are not charged the tax. A purchaser who is not an end-user is usually issued a "resale certificate" by the taxing authority and required to provide the certificate (or its ID number) to a seller at the point of purchase, al ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Massachusetts
Massachusetts (Massachusett language, Massachusett: ''Muhsachuweesut [Massachusett writing systems, məhswatʃəwiːsət],'' English: , ), officially the Commonwealth of Massachusetts, is the most populous U.S. state, state in the New England region of the Northeastern United States. It borders on the Atlantic Ocean and Gulf of Maine to the east, Connecticut and Rhode Island to the south, New Hampshire and Vermont to the north, and New York (state), New York to the west. The state's capital and List of municipalities in Massachusetts, most populous city, as well as its cultural and financial center, is Boston. Massachusetts is also home to the urban area, urban core of Greater Boston, the largest metropolitan area in New England and a region profoundly influential upon American History of the United States, history, academia, and the Economy of the United States, research economy. Originally dependent on agriculture, fishing, and trade. Massachusetts was transformed into a manuf ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Perjury
Perjury (also known as foreswearing) is the intentional act of swearing a false oath or falsifying an affirmation to tell the truth, whether spoken or in writing, concerning matters material to an official proceeding."Perjury The act or an instance of a person’s deliberately making material false or misleading statements while under oath. – Also termed false swearing; false oath; (archaically forswearing." Like most other crimes in the common law system, to be convicted of perjury one must have had the ''intention'' (''mens rea'') to commit the act and to have ''actually committed'' the act (''actus reus''). Further, statements that ''are facts'' cannot be considered perjury, even if they might arguably constitute an omission, and it is not perjury to lie about matters that are immaterial to the legal proceeding. Statements that entail an ''interpretation'' of fact are not perjury because people often draw inaccurate conclusions unwittingly or make honest mistakes without ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Return
A tax return is the completion of documentation that calculates an entity or individual's income earned and the amount of taxes to be paid to the government or government organizations or, potentially, back to the taxpayer. Taxation is one of the biggest sources of income for the government. There are two types of taxes—direct and indirect—which are both parts of the tax revenue. Tax revenue is the income gained by government from taxes that are levied on income, profit, goods and services, land revenue, ownership, and transfer of property, and other taxes. Total tax revenue calculated as a percentage of GDP shows the share of the country’s output collected by the government through taxes. Tax revenue is used by governments to grant sums of money to communities, the military, education, hospitals, and infrastructure. In the United States the Internal Revenue Service (IRS) administers federal tax laws. It is a government entity that fulfils three main functions. Firstly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Avoidance And Tax Evasion
Tax noncompliance (informally tax avoision) is a range of activities that are unfavorable to a government's tax system. This may include tax avoidance, which is tax reduction by legal means, and tax evasion which is the criminal non-payment of tax liabilities. The use of the term "noncompliance" is used differently by different authors. Its most general use describes non-compliant behaviors with respect to different institutional rules resulting in what Edgar L. Feige calls unobserved economies. Non-compliance with fiscal rules of taxation gives rise to unreported income and a tax gap that Feige estimates to be in the neighborhood of $500 billion annually for the United States. In the United States, the use of the term 'noncompliance' often refers only to illegal misreporting. Laws known as a General Anti-Avoidance Rule (GAAR) statutes which prohibit "tax aggressive" avoidance have been passed in several developed countries including the United States (since 2010), Canada, Au ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Protective Clothing
Personal protective equipment (PPE) is protective clothing, helmets, goggles, or other garments or equipment designed to protect the wearer's body from injury or infection. The hazards addressed by protective equipment include physical, electrical, heat, chemicals, biohazards, and airborne particulate matter. Protective equipment may be worn for job-related occupational safety and health purposes, as well as for sports and other recreational activities. ''Protective clothing'' is applied to traditional categories of clothing, and ''protective gear'' applies to items such as pads, guards, shields, or masks, and others. PPE suits can be similar in appearance to a cleanroom suit. The purpose of personal protective equipment is to reduce employee exposure to hazards when engineering controls and administrative controls are not feasible or effective to reduce these risks to acceptable levels. PPE is needed when there are hazards present. PPE has the serious limitation that it d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charitable Organization
A charitable organization or charity is an organization whose primary objectives are philanthropy and social well-being (e.g. educational, Religion, religious or other activities serving the public interest or common good). The legal definition of a charitable organization (and of charity) varies between countries and in some instances regions of the country. The Charity regulators, regulation, the tax treatment, and the way in which charity law affects charitable organizations also vary. Charitable organizations may not use any of their funds to profit individual persons or entities. (However, some charitable organizations have come under scrutiny for spending a disproportionate amount of their income to pay the salaries of their leadership). Financial figures (e.g. tax refund, revenue from fundraising, revenue from sale of goods and services or revenue from investment) are indicators to assess the financial sustainability of a charity, especially to charity evaluators. This ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internet Tax Freedom Act
The 1998 Internet Tax Freedom Act is a United States law authored by Representative Christopher Cox and Senator Ron Wyden, and signed into law as title XI of on October 21, 1998 by President Bill Clinton in an effort to promote and preserve the commercial, educational, and informational potential of the Internet. The law bars federal, state and local governments from taxing Internet access and from imposing discriminatory Internet-only taxes such as bit taxes, bandwidth taxes, and email taxes. It also bars multiple taxes on electronic commerce. One of the principal sponsors of the Act argued that the law also codifies the U.S. Supreme Court's Quill Corp. v. North Dakota decision and stipulates that no state shall collect a sales tax from retail purchases made over the internet or through a mail-order catalog unless the seller has a physical presence in the state attempting to collect such tax. If a seller does have a physical presence in a state, then that seller may be requir ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Franchise Tax
A franchise tax is a government levy (tax) charged by some US states to certain business organizations such as corporations and partnerships with a nexus in the state. A franchise tax is not based on income. Rather, the typical franchise tax calculation is based on the net worth of or capital held by the entity. The franchise tax effectively charges corporations for the privilege of doing business in the state. Nexus Whether or not a business must pay a franchise tax to a state in which it does business can cause some confusion. Some states report using both the economic and physical presence tests, and in some states, there are no written, public interpretations of their test at all.Baker Tilly, 2016 Midyear State and Local Tax Update. http://www.bakertilly.com/insights/midyear-state-and-local-tax-update-income-and-franchise-taxes/ Physical presence test The physical presence test is based on Quill Corp. v. North Dakota, ( 504 U.S. 298 (1992)), a United States Supreme Court rul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internet Taxes
Internet tax is a tax on Internet-based services. A number of jurisdictions have introduced an Internet tax and others are considering doing so mainly as a result of successful tax avoidance by multinational corporations that operate within the digital economy. Internet taxes prominently target companies including Facebook, Google, Amazon, Airbnb, Uber. As of 2019, several countries have passed various Internet tax laws including France and Italy (at 3%) as well as the Czech Republic (7%). Forms of Internet taxation Internet access tax Internet access taxes normally take the form of taxation on Internet service provider (ISP) access charges. ISPs levy these charges on users. Currently, these fees are typically imposed at the state level. There is no national tax on ISP user charges. No uniform description of Internet access taxes is possible; they fall within the category of sales taxes in some states, and telecommunications taxes in others; and they are considered service char ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internet
The Internet (or internet) is the global system of interconnected computer networks that uses the Internet protocol suite (TCP/IP) to communicate between networks and devices. It is a '' network of networks'' that consists of private, public, academic, business, and government networks of local to global scope, linked by a broad array of electronic, wireless, and optical networking technologies. The Internet carries a vast range of information resources and services, such as the inter-linked hypertext documents and applications of the World Wide Web (WWW), electronic mail, telephony, and file sharing. The origins of the Internet date back to the development of packet switching and research commissioned by the United States Department of Defense in the 1960s to enable time-sharing of computers. The primary precursor network, the ARPANET, initially served as a backbone for interconnection of regional academic and military networks in the 1970s to enable resource shari ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mail-order
Mail order is the buying of goods or services by mail delivery. The buyer places an order for the desired products with the merchant through some remote methods such as: * Sending an order form in the mail * Placing a telephone call * Placing an order with a few travelling agents and paying by installments * Filling in a form on a website or mobile app — if the product information is also mainly obtained online rather than via a paper catalogue or via television, this model is online shopping or e-commerce Then, the products are delivered to the customer. The products are usually delivered directly to an address supplied by the customer, such as a home address, but occasionally the orders are delivered to a nearby retail location for the customer to pick up. Some merchants also allow the goods to be shipped directly to a third party consumer, which is an effective way to send a gift to an out-of-town recipient. Some merchants delivered the goods directly to the customer via t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
