Free Essay

Tax Objectives

In: Other Topics

Submitted By ofargo1311
Words 750
Pages 3
To reduce the Amended Returns for correction of figures to the 50% compared to 2015 in order to calculate accurately the annual tax provision, monitoring the tax figures of all latam entities each Quarter, as well as prepare the tax return for the 3 Mexican legal entities by December 31st 2016 duly on time according to Mexican regulations.
Description
Tax Analyst has to calculate the advanced payments month by month through the analysis of trial balances and accounts.
Monthly tax returns have to be filed before the 17th of the following month.
Informative returns have to be filed according to tax authority’s calendar.
Archive and have an accurate record of returns with their proper authorizations and payments.
Have reconciliations of tax accounts duly prepared.
Track and calculate Invoices made by 9714 Grupo and have a follow up of the pending balances.
By December 31st, calculate the annual tax payment scenario by preparing all the files requested by UK International Tax Direction.
Request the tax reconciliation template to Latam Entities each quarter and monitor the posted figures.
Prepare the tax reconciliation template of mexican Entities each quarter and monitor the posted figures.
Weighting
35
Due Date
12/31/2016

To obtain the 100% of VAT refunds and offsets as well as the Income Tax offset by the following month in case it is refunded automatically or by the end of the third month in case documentation is required, as well as train The AP responsible and the Royalties responsible giving them the know-how required for this task.
By December 31st, 2016, both trainees will have to be able to submit any tax refund or offset, the amount refunded will have to be 20 Million MXN at least whereas offset’s status will have to be “accepted” in a 100%, with the support of the Electronic Accounting Records that will be entirely functional with the same deadline.
Description
Tax Returns have to be filed before the 17th of each month in order to trigger the amount to be refunded or offset.
Within the current month the return is filed, the Informative Return of Transactions with Third Parties (DIOT)
Support documentation has to be gathered, inluding the electronic forms required by tax authorities.+
Tax analyst has to apply for the offset withing the 5 following days the original return was filed. Regarding VAT refunds, they have to be filed 10 days after the original return was submitted.
Monitor pending refunds and offsets everyday until they become successful.
In case tax authorities require further detail and information, prepare the propper files and file the answer within the following 20 days the requirement is received.
Train AP responsible and Royalties Responsible each time a refund or offset is submitted. Once they have acquired the proper knowledge, supervision will be required and then only review of final figures will take place.
Weighting
25
Due Date
12/31/2016

To reduce in a 50% (3.5 Million MXN) the Annual Transfer Pricing Tax Adjustment made to 9713 by the end of Tax Year 2016 compared to 2015 and historic results.
Description
To have a detailed analysis of transfer pricing scenario in Mexico, Colombia and Chile for 2015 and 2016.
Gather the information required to perform an analysis of current and historic operating margins.
Create an "if" scenario where financial information can be forecasted and analyzed.
Contact international Tax Director and Local Latam Tax Teams so an agreement of the process is reached.
Calculate the % of increase for sales to Colombia and Chile entities has to be done in order to meet TP Margins.
Evaluate the impact of the Charge Notes issued to Colombia and Chile and monitor the operating margins after the adjustment is performed.
Evaluate 2016 end-year numbers and decide if any extra adjustment needs to be done.
Explain and support possible variations from year 2014 to 2015 after the adjustment.
Evaluate the Transfer Pricing policy and suggest the appropriate modifications to the International Tax Direction.
Have the proper follow-up of this situation in 2016.
Weighting
30
Due Date
12/31/2016

To participate in the General Accounting area, focusin on the provision accounts entries made at month closing in order to be responsible for at least 2 of them by the end of December 2016.
Description
Prepare information at month closing with the General Accountant in order to gather all data.
Prepare provisions according to the information generated.
Post entries and have follow.-up on them.
Weighting
10
Due Date
12/31/2016…...

Similar Documents

Premium Essay

Objectives

...Omar Hassan Principles of Management Professor Joe MArkert October 10, 2012 In the article “Objectives of an Organization” one can learn that a business or organization’s vision and mission plays a very important role in maintaining a consistently successful business. Workers of an organization and just people in general tend to lose track towards the path to success without a vision providing strategies for the future of a company. An organization that lacks this ingredient is likely to fail in achieving its goal. Therefore, It is very essential that the leader of an organization sets a well defined and reachable goal for which an organization could work towards achieving. With this being said, I feel that CEO’s/leaders truly have a very vital role in terms of setting the vision and mission for the organization ultimately building it into a stronger one. It doesn't just take any highly ranked manager to convey the vision/mission to the employees, but one that is cautious, aware, and very well understands the job enough to be able to clearly communicate to the employees so that they can appropriately work their part seriously. This technique can also help managers to guide worker’s behaviors. Relatively, I believe that setting such motivational and propelling guidance such as vision and mission to influence employees behaviors is crucial when trying to maintain a positive working atmosphere because it will drive workers into providing outstanding results. Thus, it......

Words: 347 - Pages: 2

Premium Essay

Uk Objectives

...Explain the government's various macroeconomic objective and their importance to UK economic. Is it possible for government to achieve all these objective at the same time? Individuals, governments, firms and nations make selection on apportion rare resources to fulfil their unlimited desire which is economic concern about. Economics can generally be resolved into: microeconomics and macroeconomics. Microeconomics centralizes particular market and segments of economy such as individual consumer behaviour, supply and demand in individual markets, externalities arising from production and consumption and the theory of firms. However, macroeconomics is the concentration of the overall economy behaviour which is looking at ‘aggregate’ variables such as aggregate demand, national output and inflation. ‘Aggregate demand is the demand for the gross domestic product (GDP) of a country,’ the level of national output can be determined by AD which places a leading role. Aggregate demand is represented by this formula: Aggregate Demand (AD) = C + I + G + (X-M). ‘C’ means Consumers' expenditures on goods and services. ‘I’ expresses investment spending by companies on capital goods. ‘G’ indicates government expenditures on publicly provided goods and services. ‘X’ signifies exports of goods and services and ‘M’ presents imports of goods and services. Moreover, macroeconomics is also concerned with issues. Besides, there are some objectives that governments or countries want to......

Words: 2233 - Pages: 9

Premium Essay

Tax Assessement

...Chapter-One: Introduction Chapter-One: Introduction Executive Summary: Tax is the main source of government revenue. Every country has a good taxation policy. Like this Bangladesh has also a Tax policy or act. There is an Income Tax Ordinance which is Published in the Bangladesh Gazette, Extraordinary, dated the 4th June, 1984. As a student of Business Administration I need to learn about the tax system of the country. For the purpose of gathering ideas on taxation and fulfillment of course requirement I have prepared this report. I think it will helpful to know the taxation policy. This report made on especially individual tax assessment (Income Tax). Keywords: Income Tax Ordinance, 1984; Tax, Income, Income year, Assessee, Assessment year, Salary, Heads of Income, Section 2(1), Section 33, Section 20, Other sources, Income from Agriculture. Objectives of the Study: Every assignment must have a clear and certain objective. The objective of this assignment is to gather ideas about individual tax assessment. Beside this there are some other objectives behind this report. These are cited below. * To know about the tax and taxation policy. * To identify individual’s tax liabilities * To know the policy regarding tax implication and tax exemption. * To know how tax is calculated and what rate is applicable on specific items. Methodology of the study: This report has been written on the basis of secondary data by Francis Mondol, a student of BBA,......

Words: 2599 - Pages: 11

Premium Essay

Objectives

...www.thetimes100.co.uk Social responsibility - using resources more efficiently Curriculum Topics • Aims and objectives • SMART objectives • Strategy • Tactics Images supplied by Vismedia Introduction The challenge facing business and society in the 21st century is how to use resources more efficiently. Every business large or small needs to consider carefully: 1. how to reduce its use of energy 2. how to minimise waste. The central economic problem is how to match finite resources with unlimited wants. With the demand for resources rising as the world economy grows this is becoming more of a challenge. Leading global companies like Anglo American strive to find new solutions to this problem every day. Anglo American is one of the world’s largest mining companies. Its portfolio of mining businesses spans precious metals and minerals – in which it is a global leader in platinum and diamonds, base metals (copper and nickel) and bulk commodities (iron ore, metallurgical coal and thermal coal). The company’s mining operations and extensive pipeline of growth projects are located in southern Africa, South America, Australia, North America and Asia. The purpose of the organisation is set out in a mission statement. In 2008 there was a downturn in world economic activity. This resulted from a loss of confidence in the world financial system. The downturn led to a steep fall in commodity prices such as coal, copper and platinum. By late 2009 these prices started to......

Words: 2386 - Pages: 10

Free Essay

Objectives

...Project title: Project Nature: Environment Objective: The purpose of this project is based from what one of the barangays that we had talked to needed and that is cleaning materials like for example, trash bins. We chose Barangay Teresa as a community to help since we also noticed that there are only few trash bins around the area (especially along the street way to the main entrance gate of our campus) which is one source why the surroundings are so messy. We also would like to include having a seminar about what we had learned on our topic last CWTS 1 which is proper waste disposal. Target/Beneficiaries: Residents of Barangay Teresa ages 9 to 40 years old Project Location: Barangay Teresa, Sta. Mesa, Manila Initiating section: BSCoE 1-4 Over-all in charge: CERBITO, JOLESSA 0. Head Committee: SAN JOSE, ATHENA MARIE ANGELA G. MONTEROZO, AYRA D. MENDOZA, ELMERIELI BEVERLY CAISSA SAYNO, JOSEPH ADRIAN R. AGNO, RANIEL CHRISTIAN M. ALBEZA, NOEL ANGELO S. ALIMA, JOMARI LOUIS R. ARINGO, NOMER R. BALAURO, KEVIN EDEL JOSHUA C. BISQUERA, SAMUEL G. BONDAD, HARLENE MAE D. BUYOC, CHRISTINE ANN O. CAYONA, CHRISTINE JOY C. CHING, MARC RENDELL M. CRISOSTOMO, JUSTINE S. DE TORRES, MARMELAINE U. DE VILLA, RACHELLE ANNE G. DIEL, ZYRELLE MARIE B. DIOCERA, REGINALD M. ESTREMERA, JOHN VICTOR F. EUSTAQUIO, ROGER LOUISSE L. FADRRIGA, RAYMOND L. GALON, RONEL Z. GATCHECO III, ROMEO G. GOMEZ, PATRICK L. HORIGOME, JOJIE R. JACOB, EJAY L. JAMILI,......

Words: 362 - Pages: 2

Premium Essay

Objectives

...UNIT 4 Objectives UNDERSTANDING HUMAN BEHAVIOUR Indian Environment: The Changing Scenario After going through this unit you should be able to understand: • importance of understanding human behaviour. Structure 4.1 4.2 4.3 4.4 4.5 4.6 4.7 4.8 4.9 4.10 4.11 4.12 4.13 4.14 4.15 4.16 Introduction Models to Understand Human Behaviour Implications for the Organisation Personality Determinants of Personality Type and Trait Approaches to Personality Theories of Personality Importance of Personality Attitudes Attitudes and Organisation Values Socialisation's Influence on Personality, Values and Attitudes Schein Socialisation Model Summary Self-Assessment Questions Further Readings 4.1 INTRODUCTION It is very essential to understand human behaviour in today's world as the existence of the organisation depends op the employees/individuals. Without understanding human behaviour it is very difficult to work in an organisation. In order to understand human behaviour let us see how the perception of human being has changed from time to time. All organisations are composed of individuals, with different personality, attitudes, values, perception, motives, aspirations and abilities. The main reason to understand behaviour is that individuals are different. No two individuals are similar. In the early studies, theories of organisation and management treated people as though they were the same; scientific management was based on the similarities among workers, not the......

Words: 7370 - Pages: 30

Premium Essay

Objective

...Aims And Objectives Of Mcdonalds Aims & Objectives Why are Aims & Objectives important in a business? In a business when a number of brains are working together, there are always different views on a certain aspect, therefore aims and objectives are used to help them focus on one view on the aspect which either seems right or is right. Aims and Objectives help an organisation grow; it is used as a guideline, a plan and a goal. What the organisation is heading for and how it is heading there and where it is heading? All the answers for these questions are answered by Aims & Objectives. The Main Objectives of a Business are: - Sales – Sales revenue is the total amount of money a company has earned by providing their service or selling their stock. Growth – An increase in the Business capacity to produce more stock or provide better or greater service. Profit – Residual value gained from business operations after cutting out expenses such as stock cost etc. Customer Satisfaction – Providing service to customers to their satisfaction level such as hygienically clean place or high quality food. S M A R T Before a business can set objectives it is important that they follow the SMART criteria. • Specific – Detailed and Exact • Measurable – Targets should be measurable • Achievable – Something that can be achieved • Realistic – Targets must be realistic, so that they can be met • Time Specific – That can be achieved by a deadline Aims & Objectives of......

Words: 335 - Pages: 2

Premium Essay

Tax Avoidance and Tax Evasion in Bangladesh

...“TAX EVASION & AVOIDANCE - A REAL PROBLEM FOR BANGLADESH” INTRODUCTION: Tax evasion and avoidance are both phenomena that are probably as old as taxation itself. Wherever and whenever authorities decide to levy taxes, individuals and firms try to avoid paying them. Though this problem has always been present, it becomes more pressing in the course of globalization as this process extends the range of opportunities to dodge taxation while simultaneously reducing the risk of being detected. Developing and emerging countries like Bangladesh are particularly vulnerable to tax evasion and avoidance activities of individual taxpayers and corporations. While tax revenues in OECD-countries are almost 35 per cent of GDP ,in case of Bangladesh it is only around 10%.This can be considered one of the primary reasons for large differences in the ability to mobilize own resources between developed and developing countries. Tax evasion and tax avoidance is a great problem in our country. In Bangladesh there are many individual taxpayers and corporations who are evading or avoiding tax. As a result government’s developments activities are hampered. So, we should know about the tax evasion and tax avoidance and thereby its preventives measures. For development of a country government needs to create infrastructure and invest in various sectors. For this activities government needs founds and tax revenue is the main source for the purpose. But due to tax evasion and tax avoidance......

Words: 5263 - Pages: 22

Free Essay

Objective

...Statement of Objectives My reason for choosing to do graduate work in the field of Water and Environment Energy is based on many reasons which I would mention below. • Studies related to Water and Environment energy would help me acquire better future and personal growth as this is the requirement of our tomorrow, with energy production through fossil fuels is going to end as the resource of this energy production which is fuel is to eng and we need alternative solutions to produce energy and producing energy by Water is a clean energy which is environmental friendly. • My own interest lies in finding out new ways of producing cheap and clean energy, I have always been interested in solar power and hydrothermal power plants as they inspire me that there are many other ways to produce energy. I would like to see a carbon free world where breathing air is clean and pure. • Me as alone can do nothing to change this world as we all are dependant of each other. I may have ideas to produce clean energy but I also need resources to produce it. Masdar can help me pursue my dreams, Masdar and I can make efforts to bring up new innovations and technology. Reduction of carbon emission is my first priority and would like to work and gain knowledge from the faculty of Masdar about it. Admission into Masdar on scholarship would be an honour for me, I am fully aware that my past academic result is below your requirement but I definitely have the interest and passion......

Words: 299 - Pages: 2

Premium Essay

Tax Evasion

...EXPLORATORY STUDY OF MALAYSIAN TAX PRACTITIONERS’ PERCEPTION ON THE PRACTICE OF AGGRESSIVE TAX AVOIDANCE Nur Fikhriah Binti Takril, and Sri Wahyu Sakina Ahmad Sanusi Depertment of Accounting Faculty of Management and Muamalah Kolej Universiti Islam Antarabangsa Selangor nurfikhriah@kuis.edu.my, sriwahyu@kuis.edu.my ABSTRACT Malaysian tax research has put little attention on the tax morale of Malaysian tax environment. Therefore, the objective of this study is to explore the perception of Malaysian tax practitioners in giving tax advice to tax clients whether to promote aggressive tax avoidance or to promote tax compliance. It is accordance to the implementation of SAS which had given taxpayers freedom to declare their income and compute their own tax liability. This self-determination in tax assessment had given them the opportunity to manipulate the tax account which resulted to lower or minimum tax paid. Aggressive tax avoidance is a non-compliance behavior by exploiting tax law ambiguity, playing with accounting figures and transactions to reduce tax. Moreover, the SAS had increases the demand of tax practitioners services as most taxpayers especially from the corporate sector feel incompetence and unqualified to file their own tax affairs appropriately. A survey approach is used to obtain information from tax practitioners practicing in public accounting firms in urban towns. Tax practitioners who perceived leniently on the practice of aggressive tax avoidance signify a......

Words: 3145 - Pages: 13

Free Essay

Objective

...time, or place (Sickels,1868). This allows for people to describe in detail what they see, whether it is a person, place, or thing. Second, is the sense of hearing. Hearing is the sense by which we distinguish sounds to allow us to hear conversations between individuals, music that is playing, and the sounds of everyday life (Sickels,1868). Both of which play a role when defining the main characteristics of objectivity, which goes unnoticed in everyday life. Objectivity is an important concept and practice that is used throughout most professions around the country. However it is most often used in the criminal justice profession. “More often than not, criminal justice professionals are writing reports and findings based on facts. Objective writing means that you are writing only what you observed as factual. When writing reports based on facts, it's important to exclude personal feelings or opinions on the issue. For example, if a police officer or probation officer is writing an incident report, they would not include their personal opinion on the subject's behavior” (Rasmussen,2014). It is not professional or ethical to include personal judgments or biases within an official report. In some cases, there may be a need to include a recommendation based on facts. When this is necessary, a professional opinion can be drawn, but only based on facts” (Rasmussen,2014). It is important in the criminal justice profession to use objectivity reporting because they want real......

Words: 548 - Pages: 3

Free Essay

Objective

...Long Term Objectives Dr Pepper Snapple Group has a five-year goal of its corporate social responsibilities. In 2010, Dr. Pepper Snapple Group introduces a five-year goal which called ‘Sustainability ACTION’ to improved environmental and social performance across the company’s operation. Dr. Pepper Snapple Group establishes their long term objectives in the area of public responsibility. They focus on the environmental sustainability, health and well-being, philanthropy, workplace environment and ethical sourcing. The long term objectives of DPS are measurable, understandable and motivating. The long term objective of DPS is to improve the environmental and social performance in 5 year time and its clearly state what will achieved and when it will be achieved. This objective also motivates their employee due to the safety working environment and they will work hard to help the company to achieve the long term objective. In environmental sustainability, Dr. Pepper Snapple Group aim to improve the energy efficiency by 10%, reduce water usage by 10% and recycle 80% of solid waste by 2015. In order to improve the health and well-bring of the society, DPS aim to produce more product that reduce the calories and able to improve the nutrition of the consumer in year 2015. In the area of corporate philanthropy, DPS aim to contribute a total of 100,000 volunteer hours and attain an annual giving level of $10 million in charitable cash donations, with the majority of support focused......

Words: 312 - Pages: 2

Premium Essay

Objective of Accounting

...the preparation and presentation of the classified data in a manner useful to the users. This function involves the preparation of financial statements such as Income Statement, Balance Sheet, Statement of Changes in Financial Position, Statement of Cash Flow, Statement of Value Added. (iv) Interpreting: Nowadays, the aforesaid three functions are performed by electronic data processing devices and the accountant has to concentrate mainly on the interpretation aspects of accounting. The accountants should interpret the statements in a manner useful to action. The accountant should explain not only what has happened but also (a) why it happened, and (b) what is likely to happen under specified conditions. 2.0 OBJECTIVES OF ACCOUNTING The following are the main objectives of accounting: (a). To keep systematic records : Accounting is done to keep a systematic record of financial transactions. In the absence of accounting there would have been terrific burden on human memory which in most cases would have been impossible to bear. (b). To protect business properties : Accounting provides protection to business properties from unjustified and unwarranted use. This is possible on account of accounting supplying the following information to the manager or the proprietor: (i) The amount of the proprietor's funds invested in the business. (ii) How much the business have to pay to others? (iii) How much the business has to recover from others? (iv) How much the business has in the......

Words: 2200 - Pages: 9

Free Essay

Objectives

...Chapter 3 Objectives 1. Describe receptors and ligand. Receptors are cell-associated proteins located at the surface that bind to ligand. The binding of a receptor and ligand induce changes in the receptor, which act to transmitted the ligand-binding signal into the interior of the cell and alter cellular functions such as proliferation, cell death, cell reproduction. 2. Explain the signal transduction pathway and their elements. Signal transduction pathway is the route by which ligand-receptor interaction is translated into biochemical change inside the cell. This process is initiated by the binding interaction of complementary ligand and receptor during sufficient time and strength that bring a biochemical change in the receptor. The upstream components consist of elements closest to the receptor. The downstream components are closest to the effector molecule. 3. Describe Immuno-receptor Tyrosine Activation Motif (ITAM) and list some of the molecules associated with B- and T- cell antigen receptors. The ITAM is a pair of long cytoplasmic tail that is found on signaling proteins within the immune system. It contains tyrosine that is phosphorylated after signal transduction of associated receptors. The phosphorylation of ITAM facilitated the initiation of signaling cascade. Other molecules associated with B and T cell antigen receptors are CD19 /CD20 on B cells that bind to complement molecules attached to antigens and CD4 and CD8 on T cells that bind...

Words: 1490 - Pages: 6

Premium Essay

Objective

...Objective As markets become more competitive many companies recognise the importance of retaining current customers and some have initiated a variety of activities to improve customer loyalty. Indeed, the benefits associated with customer loyalty are widely recognised within business. It is known that long-term customers are more likely to expand their relationship within the product range and so the rewards from this group are long term and cumulative. Another widely perceived benefit is that repeat or behaviourally loyal customers are also thought to act as information channels, informally linking networks of friends, relatives and other potential customers to the organisation. Much academic literature has sought to define customer loyalty and many of these reviews are discussed within this paper. However, consensus points to customer loyalty being characterised by the customer’s preference to purchase a product, service or from an organisation consistently when the need arises to purchase. The key issues of this characterisation are preference and consistency. The Discussion of Consumern Loyalty The most widely accepted definition of loyalty is by Jacoby and Kyner (1973), who describe loyalty as the biased, behavioural response, expressed over time, by some decision making unit, with respect to one or more alternative brands out of a set of such brands, and is a function of psychological processes. At a very general level, loyalty is something that consumers may......

Words: 3152 - Pages: 13