Highest Corporate Income Tax Rate
Can someone please respond to these two post with feedback please. This is a discussion so all I need is your feedback to each of these question. can you please answer in about 2hours please.
Accounting Partnerships are actively growing in Australia. According to a study, partnership positions in the Accounting career field have grown 8.1%. The article continues with the fact that 15 major accounting firms now have 3314 Accounting Partnership positions. This number has risen 250 positions in the last year. The four largest Partnerships, PricewaterhouseCoopers, Deloitte, Ernst & Young and KPMG, have almost 2200 positions between them. These positions also have a “healthy” turnover rate of about 8 to 10%. This means that the best may stay with the company, but only as long as they are the best. We also see a divide in partnerships between Salary and Equity Partnerships. Equity Partnerships are reserved for the best who have proven themselves, while salary partnerships are for trial bases to make sure the new Partner is a good fit. Equity Partners will walk home with a percent of the income after expenses, while Salaried Partners only make so much money. If interested in a Partnership in these companies, the article includes that 43% of the new partners are from outside the company. So, if you have the resume and skills to back it, you can get a job in a partnership on a trial basis on salary until you prove yourself. This article applies to not just the partnership aspect mentioned in the first chapter and the accounting portion in the second chapter, but on the class as a whole. (Tadros & King, 2016)
To pay tax or not be taxed is the question. Every day the world is getting smaller especially with global reach of corporate enterprises. Facebook’s global reach led to their investigation of assets moved to Irish subsidiary (Fiegerman, 2016). An article titled, “The U.S. Has the Highest Corporate Income Tax Rate in the OECD”, (Kyle Pomerleau, 2014). Corporate income tax is listed at 39.1%. The highest rate listed in Europe during the time of the article was 34%, but as low as 22%. Ireland is reflected at 12.5%, which is the extreme other end of the chart. So it is very tempting for a business like Facebook to look at the tax policies of Ireland. Facebook maybe looking at a $3 billion to $5 billion penalty with interest. Facebook’s issues with the Internal Revenue Service (IRS) began in 2010, but was made public at the start of Jul 2016. Facebook are not only companies that have found tax havens in other countries such as big tech firms Apple and Google. At this point in the investigation Facebook has not responded to seven summons from the IRS.
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India