Taxation Principles and Practice - Explaining Government Taxes, Direct vs Tax Expenditure, MNC Tax Avoidance, and UK Government Measures
VerifiedAI Summary
This report explains taxation principles and practice, how government uses different taxes to fulfil its four main functions, differences between direct expenditure and tax expenditure, MNC tax avoidance, and UK government measures to combat tax avoidance. It covers IP structuring, thin capitalization, and validity of schemes as ways by which MNCs avoid or minimize taxes. The report also provides a brief reflective report using Gibbs reflective model to demonstrate the lesson from the module.