Taxation

Taxation basically refers to the means by which the taxation authorities or governments fund their expenditure through putting financial charges on its citizens and corporate forms. Taxation usually implies an act and any revenue collected is usually referred to as taxes. It is enforced by a legislative authority and therefore refers to any contribution imposed by a government whether under the title of duty, subsidy, impost, aid, toll, custom, supply, tribute, or other title. Taxation thus forms one of the principal powers of any government over its citizens (Gibbon, 2008).

Classical economists were of the viewpoint that taxation’s main objective was to raise revenue for the government. However, with changes in terms of ideologies and situations, the objectives of taxes have changed. As such, other than the objective of raising government revenue, taxes are imposed to influence production, distribution and consumption with an intention of guaranteeing social welfare through the economic growth of a nation. Therefore, for economic growth of a nation, tax can be employed as a crucial tool in as far as achieving various government functions are concerned; one of the functions is raising revenue (Nightingale, 2002). In this contemporary time, the objective of the public finance is not just to raise enough financial resources to enable it meet its administrative expense, for economic infrastructures, expenses on war, law enforcement and order, property protection, subsidies and other government operations, but the principle objective is to guarantee social welfare (Dennis-Escoffier & Fortin, 2007).

Another significant role of taxation to various governments is that taxation acts as a means of encouraging or discouraging particular economic decisions. For instance, a cut in the taxable personal or household income on the amount payable as interest on mortgage loans leads to an increase in terms of construction activities, as a result, generating more job opportunities. Taxation is also employed by governments as a control mechanism. Tax policy is employed as a regulatory mechanism to check on inflation, liquor consumption and luxury goods as well as to protect local industries from uneven competition. In addition taxation forms the only effective weapon through which unnecessary consumptions can be controlled and therefore resources shifted to the state. This ensures sustainable development. Funding public and welfare services forms another significant function of taxation by governments (Razin & Slemrod, 2008) .Part of the collected taxes are used to clear the debt owned by a given state in addition to the interest accumulated by the debt. These services may include public transportation, waste management, health care, education, energy, unemployment benefits and a retirement fund for the aged (Gibbon, 2008).

In order to achieve the above goals, various forms of taxations are applied including tax on personal incomes , company profits, consumption through VAT, local land and property rates, and levies on products. Many jurisdictions often rely majorly on the tax from individual incomes (pay-as-you-earn) and taxes on incomes from business entities. Income tax is generally imposed on the individual’s income and business’s net profits, net gains, as well as other incomes using calculations based on the alterable accounting principles or tax-laws. In as much as the income tax may vary or remain constant according to the income level, taxation incidences vary according to the system, whereby systems may be perceived as progressive or even regressive.  Contrary to this, however, is the corporate tax where a corporation’s tax rate and taxable base is quite distinct from that of taxable individuals.  The tax on company profits or corporate tax is imposed on the company’s net worth, income, or capital (Gibbon, 2008). On the other hand, the tax on goods and services (the value added tax) is basically a sales tax imposed on every operation creating value. To administer this, companies fill the VAT return form, fully detailed with the VAT charged on them (input tax), and the VAT the company has charged its clients and partners (output tax). The local tax authority as such receives the difference in the tax between the output and the input tax, where the company may still claim some money back in case the input tax becomes higher than the output tax. Apart from VAT, other taxes under this category include excises, sales taxes, and pigovian taxes. The tax on land/ property, however, can be summarized as taxes imposed on the immobile properties and to some extent particular mobile properties, including the estate tax and the gift tax. Currently however, there is a continuing search for alternative taxation globally as governments world-wide demand further financing while also intending to limit over-reliance on the conventional taxation sources (Legum, 2013). From the analysis, taxation has been and is still a major source of financing government projects. The paper also highlights the fact that the objectives of taxation has changed from the classical viewpoint of its main objective being a source of revenue to applying a number of other functions.

 

References

country. "Tax - Wikipedia, the free encyclopedia." Wikipedia, the free encyclopedia. N.p., n.d. Web. 28 May 2013. <http://en.wikipedia.org/wiki/Tax>.

country. "Value added tax - Wikipedia, the free encyclopedia." Wikipedia, the free encyclopedia. N.p., n.d. Web. 28 May 2013. <http://en.wikipedia.org/wiki/Value_added_tax>.

 

Dennis-Escoffier, S & Fortin, K.A. (2007). Taxation for Decision Makers, Cengage Learning

Gibbon, A. (2008).Taxation: Its Nature and Properties, Colburn

Legum, M. (2013). Alternative Forms of Taxation. Occasional Paper No. 1, Retrieved on 12^th       May, 2013 from <http://www.sane.org.za/pubs/alternative.html>

Nightingale, K. (2002).Taxation: Theory and Practice, Financial Times/Prentice Hall

Razin,A & Slemrod,J.(2008).Taxation in the Global Economy,NBER-Project Report, University of Chicago Press

The Tower of Pisa

Torre Pendente di Pisa, the Leaning Tower of Pisa is a bell tower in Pisa, Italy; it is located next to the Duomo (Cathedral) of Pisa. The bell tower was built on August 14, 1173. There is inconsistency about the original designer of the tower. Diotisalvi is the actual architect and there was a contribution by the designers Guglielmo and Bonanno Pisano. Tomasso di Andrea da Pontedera realized that the tower began to lean during construction, when reaching the second floor, due to the soft and unstable land; while builders tried to find a solution for the tilt by supporting construction, the building was paused for a while, and construction stopped again after 1284 because the Republic of Pisa was engaged in fights with Genoa, Lucca, and Florence but resumed in 1272 and the seventh floor was completed in 1319.The tower was finally completed in 1372. The duration to complete the tower was about 200 years. Due to the tower’s age, currently the tower is under surface restoration to overhaul visual damage.

 

The Tower of Pisa project was designed and planned by Guglielmo and Bonanno Pisano, a prominent 12th century artist based in Pisa. The original purpose was to act as a bell tower for the Pisa Cathedral. However, it was also argued that it served no practical purpose except for boasting and showing off to the whole world Pisa’s riches and power, especially since Pisa had won many victories hence resembling a super power. To some extent, its purpose was also associated with boasting to the nemesis of Pisa, Florence, about Pisa’s power and influence. The construction of the tower commenced on 9th August 1173 in the City of Pisa, Italy at Piazza dei Miracoli. The area where the construction was planned measured 7,000 sq m. this construction was commissioned by the city of Pisa.   It was also estimated to be very costly to a tune of about 18-19 million dollars in overall cost. Bonnano Pisano and Deotiusalvi undertook the duty of constructing it using materials such as rocks, cement, wood, and stone from within Italy. Later on, limitations emerged through the shortcomings realized after the completion of the second floor (11m high). Due to problems such as bankruptcy, a slowly sinking base and the vertical deflection error (4cm), Bonnano Pisano abandoned the whole project after five years and left the city to go to Monreale in Sicily, leaving behind his bronze castings in the Tower. Later on though, Bonnano Pisano died in his home town. It is also argued that Deotiusalvi was the architect while Giovanni di Simone remained a prominent figure in the final phase of the project. It is also stated that he continued the whole project to its climax under Giovanni Pisano’s directions.

 

Construction of the Tower of Pisa progressed very slowly and took a long time to complete; given that it begun on 9th August 1173 and ended in the year 1350, approximately 200 years down the line.  The reason for the long duration in construction is attributed to the constant battles that bedeviled the city during that period hence constructors worked on and off depending on the situation at hand. While its construction cost could not be established, its restoration during the year 1990 cost the taxpayers US$25 million. This followed after the world at large was concerned about its significance and its increased leaning. Recently the Tower is restored and continues to serve various national and global interests.

 

The Tower of Pisa’s value both in the past and at the present can never be underrated. Ever since it was completed, the Tower of Pisa has remained a dominant feature globally. The Tower of Pisa currently holds a great significance in the world owing to various factors including the tourism potential. Despite its past, the Tower of Pisa is currently among the main tourist attractions globally. It is also in this particular tower that Galileo Galilei dropped the two balls with different masses to understand the relationship between mass and speed. In addition to this, the tower became declared as a world heritage site and famed for over 800 years of gravity-defying leaning, the Tower of Pisa is no doubt one of the most interesting phenomena in the world and yet the most challenging to engineers. Whilst considering its historical development and its current global status, it could be deduced that the significant transformations have not only stabilized the tower but have additionally added to its appeal.

 

References

"  Leaning Tower of Pisa History, Facts & Location – Italy."   Famous Wonders of the World – Best Places to Visit & Travel. N.p., n.d. Web. 30 Apr. 2013. <http://famouswonders.com/leaning-tower-of-pisa/>.

" The architecture ."  Home page . N.p., n.d. Web. 30 Apr. 2013. <http://www.opapisa.it/en/miracles-square/leaning-tower/the-architecture.html>.

"Construction of the Leaning Tower of Pisa." The Leaning Tower of Pisa | Travel Guide, History And Facts. N.p., n.d. Web. 30 Apr. 2013. <http://www.leaningtowerofpisa.net/tower-of-pisa-construction.html>.

"Leaning Tower of Pisa - Wikipedia, the free encyclopedia." Wikipedia, the free encyclopedia. N.p., n.d. Web. 30 Apr. 2013. <http://en.wikipedia.org/wiki/Leaning_Tower_of_Pisa>.

Pierotti, Prof. Piero. "Leaning Tower of Pisa: The Bells." The Unofficial Leaning Tower of Pisa Web Site. N.p., n.d. Web. 30 Apr. 2013. <http://www.pisabelltower.com/ltpinfo/belltower.htm>.

method, using this, and where it was in 1838. The top of the tower now leans just over 13 feet (4 meters) off center.. "Tower of Pisa: The Leaning Tower of Pisa." Construction Industry News: Construction Industry News, Tips and Materials. N.p., n.d. Web. 30 Apr. 2013. <http://construction.about.com/od/Benchmark-Projects/a/The-Tower-Of-Pisa-What-We-Learned.htm>.

Youths put skills ahead of money

Emirati students and recent graduates took part in the forum held a day before the Emiratisation Summit. In a live voting session, the opportunity for growth and promotion was the most important element when considering a job offer for 30 per cent of participants; on the other hand some Emiratis thought that learning new skills is the top; work environment and culture was the main factor for some, as 10 per cent said salary first and the rest 2 per cent saw the working hours as the most important factor. Moreover voting showed that more students believed working in the private sector would present more demands than working for the government. The main fear about working in the private sector was competition for promotion and recognition; in the government, it was dealing with routine. Job fairs, career guidance and workshops with corporate guests are ways that universities can help to encourage working in the private sector. Nearly 70 per cent of respondents of a survey of Emirati youth consider factors other than salary and benefits to be the most important criteria when choosing a job, and getting a job is their most immediate priority after graduation, and their trend is toward growth and promotion opportunities, work environment and skill development when choosing between public and private sector positions.

Hydroponics: getting more for less without soil

Recently, many farmers in Abu Dhabi have been switching to different kind of growing methods which includes using hydroponics that help produce more foods with less time, water and energy. Some still don’t value this change as it can cost a large amount of money depending on how big the farm is. Moreover, the procedure of training workers for a different technique than the traditional way they are used to, may take a lot of time and effort at the beginning. Therefore, they are given cash loans by the Khalifa Fund to encourage and help them through the process of converting. The idea of this system actually comes from Holland where they grow their fruit and vegetables without the use of soil. Hydroponics replaces the soil with a combination of other things such as sand, perlite and peat to help reuse and recycle water. This also supports the farmers to be able to grow much larger amounts of different kinds of foods in their greenhouses during all different seasons. In addition, hydroponics can be used in the open field as well so it may cost money in the beginning but it saves and produces a lot more at the end once everything is installed.

How do Gulf corals beat the heat?

The waters of the Gulf reach 35 C in the summer; the Gulf’s corals have found their way to handle the heat and survive over thousands of years. The symbiosis life that corals and algae live is a way to acclimatise to hot water. Producing sugars by the algae inside the coral’s tissue for energy and the corals provide to the algae shelter, nutrients and carbon dioxide for photosynthesis. When temperatures increase more than 35C, corals change the process of exchange.

Corals reproduce in one of two ways: fragmentation or larval production. Fragmentation is when a piece of coral breaks off and lands somewhere and starts growing. Coral larvae are produced in massive spawning events; billions of tiny larvae are released and float around the sea until they have the ability to attach themselves to a rocky surface and start growing. Sometimes they don’t like their new neighborhood, so they change their home.

New Pearl Museum opens in RAK

The precious pearl is our historical treasure, which is brought us to this modern life. In RAK which used to be called Julfar and was a pearl trading center was opened the new Pearls Museum; which shows the story of the treasure.

 In the early 1930s the old pearling industry collapsed in the Gulf due to the Japanese invention of cultured pearls, but pearls are still in our life, as Emaratis. RAK Pearls Holding is the company which organized the museum; the museum is graced by thousands of local pearls and on the trip you can see detailed showcases of tools and gear worn by pearl divers on the first floor. The divers had no protection from the dangers of the sea. You can have diving experience with expert guide as the divers used to do and they had a designated singer, and took with them drums. The second floor is displays of the famous pearls and instruction on how to distinguish natural and cultured pearls from different areas, shape, color and cost.

First reflective statement

LSC 2103 is an academic reading and writing level 2 course; it is to improve our reading strategies which we have learnt in the previous course and get information from different sources with APA format referencing for creating an academic report. In addition we will keep practicing on summarization skills, and vocabulary exercises.

I have learnt about the blogger so far; it is a new way for me to post and share my documents with the teacher and my colleagues. Creating a new blog was the first step in our class; it is a good tool to have as many blogs  I like and classify them in groups which keeps you in privacy.

In LSC 2103 course I expect to get a good background about reading and writing skills by choosing suitable sources for researching, and how to transfer the ideas to my paper by my own words.  Meaning of new vocabularies I will know about them and usethem in my work.

Hedley was born in England; he is married with two daughters; his career started in 1992.He has worked at Bell Educational Trust Summer Schools. Hedley as an Englishman; he likes rugby. He has traveled to many countries for working and holidays.

The hajj

Each year about 2 million Muslims from all over the world go to Mecca to do the hajj, this pilgrimage is a pillar of Islam. Once life time all Muslims should perform the hajj. It starts on the eighth day of Dhul-Hijjah.The mosque in Mecca is special to Muslims; the ka’aba is located in the middle of the mosque, and it is the direction for Muslims to pray. The pilgrims follow the prophet Muhammad in the biggest annual mass movement of people in the world. The Saudi authorities are taking a huge responsibility to host the hajj. Pilgrims stay in hotels or tents. All pilgrims must be vaccinated to prevent epidemics. Before entering Mecca, pilgrims stop for cleansing rituals, then wear white robes. Pilgrims start their first Tawaf seven time around the Ka’aba, then perform Sa’i and go seven times between the hills of Safa and Marwah. On the first day of the hajj pilgrims travel about three miles(4.8kms) to Mina for an overnight stay and in the morning they go to Arafat. In the evening pilgrims travel to Muzdalifah where they camp. After that pilgrims go back to Mina to throw seven pebbles at each of the three statues at the Jamraat. The pilgrims will return to Mecca for Tawaf and journey again between the hills of Safa and Marwah and then return to Mina for three days of prayers. Finally will be the last Tawah around the Ka’aba in Mecca.