Double taxation is the collection of tax by two or more jurisdictions on the same income, assets, or financial transactions. This can happen if income is generated both at the corporate level and at the…

Objectives of the Industrial Relations Act The primary goals of labor-management relations are to create a productive, engaged workforce and to eliminate the perception that organized labor and management have a perpetually adversarial relationship. A…

Strike and Lockout Workers have a right to strike, and employers have a right to lock out workers if an argument cannot be determined. Certain procedures and certain limitations apply under certain conditions. Strikes and…

Partial Disablement and Total Disablement Disability can be considered temporary or permanent, and it can be full or partial. Both total and partial disability benefits are designed to protect your wages when you are injured…

Zero-rated Goods Zero-rated Goods refers to items that are taxable, but the rate of tax is nil on their input supplies. Zero-rated goods are products on which a Value Added Tax (VAT) is not levied…

Excise Duty An excise duty is an inland tax on the sale, or production for sale, of specific goods or a tax on a good produced for sale, or sold, within a country or licenses…

A bond-washing transaction is a transaction where securities are sold sometime before the due date of interest and reacquired after the due date is over. It is a practice of selling a bond just before…

Tax Shifting Last but not the least, the process of transferring the direct money burden of a tax to another person is known as the shifting of tax. If incidence differs from impact, a tax…

Recognized Provident Fund (RPF) Recognized Provident fund is constituted under the conditioned mentioned in Part B, First schedule in the Income Tax Ordinance, 1984 and approved by the commissioner of taxes. These funds are non-government…