Presentation Transcript

1. Tax Accounting I

   Dr. Mohamed A. Hamada Lecturer of Accounting Information Systems Lecture 1 Introduction to Tax Accounting
2. Reference Book Tax Accounting , Tahseen Al-Shazly, Cairo University
3. Assessment Performance will be evaluated according to following criteria: Regular attendance is a prerequisite for passing the course. Continuous Quizzes and Assignments (20%) Mid year Exam (20%) Final written exam (60%)
4. Course objectives Identify tax structures, tax research sources, and tax practice. Explain the impact of taxation as a key aspect of financial and corporate decision-making. Explain the main types of Taxation in the Egyptian taxation systems Explain how to calculate all types of taxation Explain the effect of taxation on the Egyptian economy Explain the Egyptian Unified Tax on Individuals Incomes
5. Chapter One Essentials of Tax and Tax Systems
6. Tax Definition Tax can be defined as an amount of fund deducted from Individuals, Institutions and Like Corporations , which is transferred to Public Treasury to finance Public Expenditures and Public Projects for Social and Economical Welfare.
7. Tax Concepts The main concepts of Tax can be summarized as follows : (1)- Tax is a sacrifice paid to the Government without return or benefit. (2) – Tax is mandatory by the Law.
8. (3) – The main Base of Tax are : Revenues , Incomes , Earnings Wealth of Individuals and Institutions
9. (4) – Tax is calculated according a set of principles (Rules) which govern Its determination , measurement and Disclose. (5) – The main objective of Tax is to share in Social and Economical welfare.
10. Tax Objectives 1– Financing public expenditures and projects such as: Education health security and other Public services and benefits
11. 2- Sharing in social welfare for people whom under the standard well-living 3 –Sharing in Economical Growth 4 -Fair distribution of income and wealth between peoples
12. 5-It is a tool to help government in designing some policies such as : -Social well and benefits policies -Avoiding inflation policies – Investment policies – Deficit in public treasury policies
13. Main features of Ideal Tax They are as follows : &-Equity between peoples . &-Taxpayers Ability . &-Convenience to apply. &-Certainty and Awareness to Taxpayers.
14. &-Flexibility to change according to changes in social and economical environments. &-Efficient Administration . &-Commitment to Good Ethics. &-Commitment to Religious Rules .
15. Taxes Classification. - Direct Taxes: which are imposed directly on individuals, Who bear its burden and cannot transferit to others , such as : - Tax on income, -Tax on revenues, - Tax on wealth, - Tax on capital ,
16. 2- Indirect Taxes :which are imposed indirectly on Individuals such as : - Tax on production - Tax on sales
17. There are other classification of Taxes such as : - Tax on wealth - Tax on income - Tax on consumption And so on
18. Tax System Definition Tax system is defined as a plan or a framework consists of a set of components operate together to calculate Due Tax on individuals and institutions according to Tax Laws and Rules .
19. Tax System Components The main Components of a Tax System are as follow : - Taxpayers , - Tax Laws and Tax Instructions - Tax Governmental Units , - Tax Justice Units , - International Tax Rules and Tariffs
20. Egyptian Tax System. The Egyptian Tax System Framework consists of the following Taxes : =Unified Tax on Individuals Income =Corporation Incomes Tax , =Real Estate Properties Tax , =Sales Tax , =Stamps Tax , =Customs Duties
21. =Tax on transfer of Properties , = Other Taxes . We will concentrate only on The Unified Tax System on Individuals Incomes
22. Egyptian Unified Tax on Individuals Incomes It consists of the following Taxes : Tax on Salaries and Like Payments Tax on Income from Non-Commercial Professions , Tax on Income from Real EstateProperty Tax on Income from Commercial and Industrial Business ,
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