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Business ethics and environmental values
Business ethics and environmental values
Business ethics and environmental values
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P6 describe how political, legal and social factors are impacting upon the business activities of the selected organisations and their stakeholders.
M3 analyse how political, legal and social factors have impacted on the two contrasting organisations.
Part A
Taxation
Companies have to pay corporation taxes on their taxable profits. This is why the corporation taxes depend on how much profit a business makes.
Every individual or organization has to pay taxes base on their income. These taxes are the Income tax
The national insurance is a contribution system set up by the government. Every individual, provided that some criteria are fulfilled, has to pay a certain amount, dependent on the amount of income. The national insurance can have some benefits including the State pension. The rate of the national insurance mostly depends on the income
The VAT describes the rate at which goods and services are sold within a territory.
The current standard VAT tax is 17.5 %.
The customs duty is a payment for bringing goods from on side of a countries border to another. These obstacles are di-established for some regions because of the formation of political groupings, the trade blocs. These allow national boundaries to be crossed by flows goods, money and sometimes workers. Still, some parts of the world can not be crossed without paying customs duty which is set by the government entering.
Providing Infrastructure
Roads are ways between two or more places. Roads can be used by both individuals and organizations. Transportation over roads can be easy as short distances can be bypassed quickly and affordably. On the other side, long distances take much time with for instance vans or trucks because congestion on the street can occur and b...
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...he other hand, for Samsung, such a problem of global warming would be more difficult to deal with because they are a big emitter. The changes would have for every business negative impacts. Some might have positive ones, too, but the negatives outweigh the positives. In case of environmental changes, Samsung might have to change, too, because of the pressure which would arise. Adaptation and mitigation strategies might have to be used. They included: reforestation, recycling, switching to “green energy” and so on.
In conclusion, if ethics and the environment are regarded well by both business, they will have a better image and less pressure but as with any other company, ignoring the responsibilities might cause a major image loss and therefore even loss in sales revenue.
Changes in the environment, especially the global warming, might be struggle for every business.
Scenario: For this assignment, you have been examining two contrasting business organisations. The final part of the assessment asks you to examine how your chosen organisations are affected by changes in their political, legal and social environments.
Ability to-pay system, implying that the individuals with more money tend to pay taxes at a higher rate and the individuals who have less money tend to pay taxes at a lower rate or even get citizen supported advantages while paying no duties by any stretch of the imagination. Another option is a flat tax system in which everybody pays the same expense independent of pay. An example of benefits received rule, if a citizen bought a ticket worth $500 for non-profit fundraising and in turn received a dinner worth $100, he could only claim a tax reduction of
Taxes in the United States include payroll taxes, property taxes, sales taxes, and a multitude of others. These taxes may be imposed on individuals, business entities, estates, trusts, or other forms of organizations. In general, there is a lot of inquiry on the current tax system. With endless loopholes, a regressed economy, and corruption there has been widespread anger on the current structure of taxation. Consequently, the wealthy have managed to become even richer despite the economic crisis. Furthermore, many taxpayers in the upper class have found loopholes to avoid substantial taxation or otherwise known as tax evasion. (Stewart 2013) Tax evasion has only grown over the years and with the national debt has become a major issue. What is more, is the intense complexity of the entire taxation process. Addressing all the issues and problems regarding the taxation structure is a meticulous and arduous process. With this in mind, politicians from both parties have tried to address individual issues within the taxation paradigm. Being that the United States has the highest corporate tax in the globe, politicians have tried to change policy regarding taxation on businesses. (Sullivan 2013) How...
William Perez explains that income taxes are paid because the United States has to pay for such expenses as "schools, roads, hospitals, the military, government employees, national parks, and so forth" (2007, ¶ 2) and the process in which the United States pays for these expenses is through income taxes. The United States requires that the people and companies with earned income pay to the government a portion of the income earned. This portion of earned income paid to the government helps to pay for the many expenses needed by our society.
Businesses are catering to a large number of stakeholders which include employees, customers, suppliers, community, etc
Do you ever feel like you are waiting at a red light in your car for what seems like forever? Well, that’s because “ The average person throughout their lifetime spends five years waiting in lines and queues where roughly six months of that is waiting at traffic lights”(How). Cities and towns have faced a transportation problem and they are looking for ways to tackle the issue. Transportation is a big part of one’s everyday life, and it is impossible to avoid it. Transportation plays a crucial role in the way we travel to things like school and work. Humans need transportation to get from place A to place B. There are different kinds of transportation, but the most common one in modern society is automobiles. Although transportation of automobiles is a quick way of traveling at the moment. Automobiles bring issues like health problems, air pollution, and high expenses. This is because humans always manage to take the easy way out without looking at the long-term effects that come with automobiles.
When the term “salary” comes to mind, people reference employee wages and the taxes paid by both the employee and the employer. However, the term has a slightly different meaning when it comes to payment of business owners. There are many options on how business owners are compensated, but the options are based on the business entity election. Business owners of sole proprietorships and partnerships are not entitled to a real salary; instead they receive profit distributions from business operations. Profits from a partnership are then divvied up based on the ownership percentage of each partner. They are not responsible for paying the FICA tax, but they do need to pay self-employment taxes and quarterly estimated taxes. Business owners of C and S corporations are waged in one of two ways: salaries if they are involved in daily activity or dividends as a shareholder. In addition to receiving a reasonable salary, payment of Social Security and Medicare taxes are anticipatory.
There are 3 types of corporate income taxes as follows: National 30% of taxable income, Local 20.7% of National Tax, and Enterprise 10.08% of taxable income. The calculated effective tax rate of 42.05% although they simply add up to 46.29% (30.0% + 30.0%X20.7% + 10.08%). It is because Enterprise tax is deductible for the other tax purposes only when it becomes due. Tax evasion involves fraudulent or criminal behavior, conduct involving deception, concealment, or destruction of records. Tax evasion occurs when the taxpayer fraudulently or criminally avoids the payment of taxes otherwise due and owing under the tax laws. There are many tax crimes under the Internal Revenue Code. The criminal violations cover the same territory as the civil fraud penalties, although the government has a higher burden of proof in the criminal cases. The criminal cases, however, reach a far greater spectrum of potential defendants. Unlike the civil penalties which target only the taxpayer, the criminal penalties reach anyone engaging in the defined offense, including employees, accountants, lawyers and tax preparers. Under IRC Sec. 7206(2), a person is guil...
③ Government. Government's interest are derived from a variety of paid corporate taxes . These taxes include turnover tax, income tax, property tax, etc, whcih is directly related to the interests of the government and enterprise asset size, incoming levels and profitability.
We see this every time we make a purchase, taxes are a part of everyday spending. Taxes come in many forms, from income tax, to sales tax, to property taxes. As citizens of the United States, it is a requirement for us to pay our due share, and this comes in the form of taxes. The impact from taxes grossly affects the both personal finances and the economy on a grand scale. So why does the government require us as citizens to pay taxes? Well according to the article why do you have to pay taxes?
This is a firm to be considered to be a legal entity that is separate and distant from the owners, meaning its established by law and given some legal rights and duties of a human being. It follows rules by governing how it is organized, and how it conducts business which is called corporate by laws. A corporation can act as any business activity, it can enter into binding contracts, borrow money, own property, pay taxes, it can proceed in to legal action (such as law suits) in its own name it can also partner in a partnership or owner of another corporation, there is a longer process obtaining this form there is more paperwork and higher fees, unlike a sole proprietorship and general partnership it requires filing articles and paying filing fees. Stockholders (owners) elect individuals to represent their intrests which is called a board of directors, these directors they establish the missions for the corporation and its objectives. It can also transfer ownership very easy owners sell their stocks they can sell it to the public, however, a stockholder has to sell it to another stockholder if no one is interested then the stock can be sold to the public, so this type of form is required for large company’s such as apple and
The development of every nation hinges on the effectiveness of their transportation systems. Movement of goods, services and people to and from locations is made possible by transportation systems. The importance of effective transportation systems cannot be over-emphasized. Many countries face transportation problems and my country Ghana is no exception. A trip of about 30 minutes usually takes about an hour or more due to traffic jams. This is seriously impacting productivity and has become a topical issue in the country. The situation is the same in Uganda where I currently work. To this end, Transportation Engineers are needed to design roads/ highways that will stand the test of time, plan effective traffic management systems to reduce
Environmental factors affect an organisation in 2 ways. They set limits and pose threats and they also provide opportunities and challenges. A change in the government export policy may suddenly threaten an export oriented organisation. A reduction in the rate of interest may provide cheap finance to an organisation.
Traffic congestion, is one of the major problems faced in the capitals and major cities in most countries. As with the increase in the growth rate, comes the growing demand for the use of transportation. This works with the response to the needs of the community.
Self employment taxes are subject to the members of an LLC,the net income of the LLC is subject the Medicare and social security taxes