Tax evasion is inversely proportional to tax compliance, which means that if the rate at which the citizens evade tax is high, it will cause their compliance to be low and vice versa. Otekunrin et al. (2021) investigated the e-tax system’s effectiveness in reducing tax evasion. This ...
As of 2023, most workers pay a Medicare tax rate of 1.45% and the employer pays an additional 1.45%. Self-employed workers are responsible for paying the full 2.9% Medicare tax on their self-employment income. High earners pay a bit more, in what’s called an additional Medicare tax of...
Nigeria (Last reviewed 16 September 2024) Resident: 10 / 10 / 10;Non-resident: 10 / 10 / 10;For non-residents, the WHT rate will be reduced to 7.5% through the use of a DTT with certain territories. North Macedonia (Last reviewed 19 July 2024) Resident: NA;Non-resident: 10 / 10...
LUXEMBOURG- the standard VAT rate of 17% was re-introduced on 1 January 2024. Between 1 January and 31 December 2023 the standard VAT rate was 16%. Rate prior to 1 January 2023 was 17%. SWITZERLAND and LIECHTENSTEIN- the standard VAT rate was increased from 7.7% to 8.1% on 1 January...
Politicians don’t like cross-border investment because economic activity tends to migrate to places with lower tax rate, and thisputs downward pressureon tax rates. There is no evidence that people in the private sector use “offshore” entities in ways that are disproportionately dodgy. ...
Meals are usually deductible at a 50 percent rate; however, the IRS has made a temporary change. From January 1, 2022-December 31, 2022, businesses can deduct 100 percent of the costs of restaurant meals. Legal and accounting services If you engaged the services of a legal professional, ...
Generally, the PCC tax rate is 4.65% and the IRRF tax rate is 1.5%. If you are using our cloud services for business purposes and are registered for CNPJ, please maintain your CNPJ registration number in the account center. Check your bill address information to ensure that you have ...
This week in tax: Pillar two underpins 6.3% PwC tax revenue growth Sam Sholli,November 01, 2024 OECD pillars wouldn’t majorly affect MNEs in Nigeria, experts indicate Sam Sholli,October 24, 2024 Asia Pacific ‘Setting a precedent’: KPMG’s Perera on his award-winning practice ...
Archival data were sourced from the Central Bank of Nigeria statistical bulletin (growth rate in gross domestic product, investment to GDP ratio, labour force participation, and openness), Nigeria Population Commission (population growth rate), and Federal Inland Revenue Service (value-added tax). ...
Political cost theory and political power theory are two views on the effect of firm size on effective tax rate (ETR) in extant literature. The size effect of ETR can be investigated further by focusing on the relationship between firms and the government. This paper uses state ownership and ...