Tax Law is defined as a specified group of laws that deal with the levies imposed by the governments on financial dealings. The system of tax law is premised upon some major issues that are common all over the world. The issues of taxation vary as per countries.
In the United States the tax laws administer the following categories:
Limited Liability Companies
Specific Investment Products
The matter of taxation is a complex process all over the world with each and every country having its unique features. An interesting feature of taxation in the United States is the presence of multiple levels at which the taxes need to be paid. There are several methods involved in the process of paying taxes.
In the United States the taxpayer needs to pay taxes to the local government, as well as governmental agencies at the municipal, district, township and county level. Regional bodies like transit, school and utility districts are also entitled to receive taxes in the United States in addition to the state and federal governments.
The tax system in Holland dates back to the Romantic Age or before it.
The most important tax laws in Holland cover the following subjects:
Games of Chance
The income tax laws in Holland are quite liberal, while the value added taxes are divided into foods and essentials and non-foods and luxuries. The corporate taxes are directly proportional to the amount and the games of chance taxes are dependent on the amount won and the entry fee.
Australia has a wide and varied system of taxes covering the following subjects:
Goods and Services
In Australia only the federal government is responsible for imposing the personal income taxes while the business organizations need to pay taxes on the profits. The tax rate for goods and services in Australia is 10% for the bodies who are registered under the relevant regulations.
Last Updated on : 5th July 2013