Taxation

Business Taxation is one of the accounting courses that we are taking in this semester. At the begging we were very surprise and angry because in our country we do not pay tax, so why we have to learn about the taxation and it’s rules and regulations. But now we are comfortable with this subject, we just have to memorize some rules and imply them on examples provided.

Actually, in last weekend I was thinking about the taxation and did we implement it in our life. I know that in our country there are some indirect taxes which have been imposed by government such as Salik. But, there is possibility that federal government will impose tax on corporate and maybe individuals. In addition, we forgot that taxation actually was first introduced by Muslim community. Basically, Muslim pay tax on wealth rather than income and its falls at 2.5% each one year.