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PREFERENTIAL DEBTS:
These unsecured debts which rank ahead of a floating charge and non-preferential debts are:(a) one year's taxes, i.e. corporation tax, PAYE income tax deducted, rates, VAT unpaid at the "relevant date". The relevant date is defined as:i. the date of the order for compulsory liquidation (or any earlier order for appointment of a provisional liquidator); orii. the date of passing the resolution to wind up voluntarily.If more than one year's tax is outstanding the Income Tax Department may select whichever year yields the largest amount of corporation tax; in other cases it is the latest year's tax which is a preferential debt;(b) wages and salary of an employee, i.e. clerk, servant, workman or labourer (including commission or piece work payments) of the four months up to the relevant date limited to a maximum of four thousand shillings owed to each individual employee, accrued holiday pay and employer's National Social Security Fund (NSSF) contributions. A director is not an employee in respect of a claim for unpaid fees - but he may be in respect of salary if he has a contract of service.
Describe the Separate streams of problems and policies The separate streams of problems, policies, and politics each have lives of their own. Problems are recognized an
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State in brief aboput the Monetary Effects Besides real income effects there will also be monetary effects if nations seek to intervene in foreign exchange markets which govern
Define the term - Inaction and crises We know that the standard social planner does not show and delay or have tendency of inaction and adopts a policy as soon as it is proved
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Determine the term - Real Income Effects This linkage between countries takes place through the current account of the balance of payments. It occurs when a change in one count
QUESTION a) How is the term "investor" defined in the Investment Promotion Act? b) In what ways can the Board of Investment (BOI) assist in business facilitation and Public-Pr
Legislature-Executive Trade off Let us move a bit closer to the reality. In standard modes of policy optimization we assure that there is a single policy maker, who controls th
QUESTION 1 Interpreting legislation is a very important function of the Court. However, Judges must only have recourse to the intention of parliament while interpreting legisla
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