Reference no: EM133258367

1. Compare Thailand and Australia Income Tax in terms of:

a. Residency

b. Rate

c. Offset And Deductions

2. Evaluate how that country's tax system ranks in terms of:

a. simplicity - means that taxpayers can avoid a maze of taxes, forms and filing requirements. A simpler tax system helps taxpayers better understand the system and reduces the costs of compliance.

b. equity - speaks to whether the tax burden is distributed fairly among the population. The ability to pay principle states that the amount of tax an individual pays should be dependent on the level of burden the tax will create relative to the wealth of the individual.

c. certainty - the capacity to make an accurate assessment of the tax and compliance costs associated with an investment or a continuation of an investment in a country over the lifecycle of the investment/company.

d. efficiency - when an individual or business pays the least amount of taxes required by law. A financial decision is said to be tax-efficient if the tax outcome is lower than an alternative financial structure that achieves the same end.