Question
Which of the following is NOT a characteristic of
offshore financial centers?Solution
Offshore financial centers: Offshore financial centers (OFCs) are jurisdictions that provide tax and regulatory advantages to businesses and individuals. These are centres that are primarily tax havens for wealth management and global tax management rather than providing the fully array of international financial services. Examples include the Cayman Islands, Bermuda, and the British Virgin Islands. These centers offer low taxes, minimal regulation, and strict secrecy laws that make them attractive to those seeking to reduce their tax burden or conceal their financial activities. However, OFCs have faced criticism for facilitating tax evasion and money laundering.
A listed company did not appoint a woman director on its Board. During audit, you find non-compliance continuing for 6 months. What is implication?
In insurance accounting, what is "unearned premium"?
A company has issued non-convertible debentures. Which of the following is true?
The term ‘Previous year’ is defined under which section of Income Tax Act?
Which of the following is not a member ministry in the National Board for MSMEs?
From the following data calculate abnormal gain to be debited to process account.
Input introduced in process 1 = 2000 units
Output = 1900...
Goods worth Rs.100,000 taken by the owner for his personal use should be credited to:
A supply comprising of two or more supplies shall be treated as the supply of that particular supply that attracts the highest rate of tax.
_______ are denominated in GBP (Great Britain Pound) and issued in London. Issue proceeds can be used to fund UK operation.
Section 126 of the Indian Contract Act refers to:
