Saturday, October 12, 2019
Spain Essay -- essays research papers
Spain à à à à à Spain, a country occupying the greater part of the Iberian Peninsula, and bounded on the north by the Bay of Biscay, France, and Andorra, and on the east by the Mediterranean Sea. The Balearic Islands in the Mediterranean and the Canary Islands in the Atlantic Ocean off the coast of Africa are governed as provinces of Spain. Also, Spain administers two small exclaves in Moroccoââ¬âCeuta and Melilla. The area of Spain, including the African and insular territories, is 194,885 sq mi. Madrid is the capital and largest city. Population The Spanish people are essentially a mixture of the indigenous peoples of the Iberian Peninsula with the successive peoples who conquered the peninsula and occupied it for extended periods. These added ethnologic elements include the Romans, a Mediterranean people, and the Suevi, Vandals, and Visigoths, Teutonic peoples. Semitic elements are also present. Population Characteristics The population of Spain at the 1991 census was 38,872,268. The estimate for 1995 is 39,276,000, giving the country an overall density of about 202 per sq mi. Spain is increasingly urban, with more than 80 percent of the population in towns and cities. Principal Cities The capital and largest city is Madrid (population, greater city, 1991, 3,010,492), also the capital of Madrid autonomous region; the second largest city, chief port, and commercial center is Barcelona, capital of Barcelona province and Catalonia region. Other important cities include Valencia, capital of Valencia province and Valencia region, a manufacturing and railroad center; Seville, a cultural center; Saragossa, and Bilbao (369,839), a busy port. Religion Roman Catholicism is professed by about 97 percent of the population. The country is divided into 11 metropolitan and 52 suffragan sees. In addition, the archdioceses of Barcelona and Madrid are directly responsible to the Holy See. Formerly, Roman Catholicism was the established church, but the 1978 constitution decreed that Spain shall have no state religion, while recognizing the role of the Roman Catholic church in Spanish society. There are small communities of Protestants, Jews, and Muslims. Higher Education Spanish institutions of higher education enrolled nearly 1.3 million students in the early 1990s. The major universities of Spain include the University of Madrid, the Polytech... ...ed the ETA, which stepped up its terrorist activities. Meanwhile, Catalans pushed for greater control over local affairs, and demanded greater language rights. The use of Catalan and nationalist sentiments increased in and around Barcelona. The Galicians consistently distanced themselves from Madrid, though ethnoregionalism remained weaker in Galicia than in either Catalonia or Basque Country. Suà ¡rez governed through consensus, consulting all nonextremist parties when formulating basic policy. Catalonia and the Basque Country were granted home rule, and their languages were officially recognized. The constitution extended similar privileges to 15 other regions. Thus, the movement toward political centralization begun by Ferdinand and Isabella some 500 years earlier was reversed, and a ââ¬Å"Spain of autonomous communitiesâ⬠was created. In recent years, concerns over Spain's environmental problems have grown. The country has experienced increased air-pollution problems in Madrid and along the northeastern coast, water pollution in agricultural and coastal areas, and soil erosion. Controversies arose over rapid development along the Mediterranean coast and threats to scenic attractions.
Friday, October 11, 2019
Sample of Business Plan for Resort
ââ¬Å"UNDERWATER ISLAND RESORTâ⬠A great place to stay in and a great place to enjoy and relax! Here at Underwater Island Resort which is located at the beautiful island of Bantayan in Cebu City, you will enjoy the great scenery and you will have a different vacation than ever! Underwater Island Resort that was being establish by Ms. Lovina M. Mercader last April 29, 2010 which offers a variety of services and treats for every guest who will be visiting the said resort. With Ms.Mercaderââ¬â¢s team, they strived hard to build up the said Resort and name it with the greatest view that can be seen UNDERWATER. And we ensure guest safety and their enjoyment as they stay in our resort. Underwater Island resortââ¬â¢s main attraction is the beauty of the sea especially the marine life and resources. Scuba diving and snorkeling is also one of our offered services. Restaurants and bars are also advertised in our said resort for guess to also taste the greatest specialties of the Ph ilippines. Also, live bands are available at our bar.Availability of rooms and cottages are also provided for guest staying long. We also accept reservations for any occasions and events. A view of sunset can be clearly seen in our resort. Many services are available in our said resort where you can enjoy a vacation with your love ones. Seat backs relax and enjoy in staying in UNDERWATER ISLAND RESORT. OBJECTIVE: â⬠¢ To provide them a great time with their love ones and for them to enjoy their stay in the resort. â⬠¢ To provide them with new and enjoyable facilities. To ensure that guest are enjoying and also satisfied in their stay and the service of the resort. â⬠¢ To also provide security for every guest that will be staying in the resort. Underwater Island resortââ¬â¢s Missions and Visions is to be one of the leading Resorts in Cebu but not just only in Cebu but also in the whole Philippines and to be recognize also in the whole world as one of the best resorts an d attraction in the Philippines. One of our goals also is to attract tourist for the growth of tourism here in the Philippines.SWOT ANALYSIS: STRENGTH â⬠¢ We provide guest with excellent ambiance â⬠¢ We also excellent when it comes to service â⬠¢ Also, the management of our resort is very efficient. â⬠¢ Our resort provides unique facilities and events that you cannot see from other resorts. WEAKNESS â⬠¢ Our competitors with their high-standard service offered. â⬠¢ The place is too far from the city. Also, the availability of transportation. â⬠¢ One of our weaknesses to is the weather condition of our place. OPPORTUNITIES â⬠¢ Word of mouth from guest to their connections. Investors from different companies â⬠¢ Easy to locate. â⬠¢ Advertisements THREATS â⬠¢ The safety of the guest for them to travel at sea. â⬠¢ The Competitors in the said Island. Whether discovering the soothing and healing wonders of the resort's spa or journeying throu gh a delicious culinary trail in any of the food and beverage outlets, Under Water Island Resort knows no boundaries when it comes to fun under the sun. ââ¬Å"UNDERWATER ISLAND RESORTâ⬠PREPARED BY: LOVINA MERCADER LY-AN MANACIO CATHERINE SINGCOL EL DAVE OTARA JESS JASPER SABORIENDO ROWENA BAHINTING
Thursday, October 10, 2019
Specific Investment Decisions
SPECIFIC INVESTMENT DECISIONSQ1. If a company leases rather than buy an asset, which of the following will not be a benefit to the purchaser? (MCQ)Avoiding Tax exhaustionExploiting a low cost of capital Attract lease customers Potential future scrap(2 marks) Q2. Willow Co has already decided to accept a project and is now considering how to finance the project. The asset could be leased over three years at a rental of $23,000 per annum, payable at the start of each year. Tax is payable at 25%, one year in arrears. The post-tax cost of borrowing is 8%. Calculate the net present value of the leasing option. (FIB)Years Cash flows ($)0 ââ¬â 2 Rentals (23,000)2 ââ¬â 4 Tax relief 5,75041084542545000NOTE: Negative answer should be shown with a negative sign (-)$(2 marks) Q3. Select the correct Lease option based on the statements given. (HA)It is a rental agreement OPERATING FINANCEMaintenance & Servicing cost of Lessee OPERATING FINANCEAgreement for the useful life of the asset OPERATING FINANCEIncluded in the balance sheet of the Lessor OPERATING FINANCE(2 marks) Q4. Tango Co. needs to decide about an asset that will be used in a project. The company has an option to either Buy the asset or Lease it. If Tango Co. opts for Buy option the following information is given: The asset is bought using a bank loan for $400,000 for a time period of three years. The scrap value of the asset is $30,000 & annual maintenance cost will be $12,000 per annum. Calculate the present value for year two using a cost of borrowing of 5% (ignoring taxation)? (MCQ)$30,000$(11,424)$(10,884)$15,552(2 marks) Q5. What are the relevant cash flows for Buy option? (MRQ)Investment and Disposal proceedsRepair & Maintenance costTax allowable depreciationTax saving on Servicing cost(2 marks) Q6. Beamer Co. wants to replace a Dyeing machine on 31st December 2017. The machine is expected to cost $360,000 if purchased immediately, payable on 31st December 2017. After four years company expects technological changes in the market making this machine redundant and leaving a scrap value of $20,000 on 31st December 2021. Capital allowance on 25% reducing balance basis. A full year allowance is given for acquisition but no writing down allowance in the year of disposal. If the maintenance cost is $15,000 per year payable at each year end & tax rate is 30%.What will be the Balancing Charge/Allowance? (MCQ)$28,172 Balancing Charge$27,000 Balancing Allowance$11,391 Balancing Charge$28,172 Balancing Allowance(2 marks) Q7. Putin Co has decided to invest in a new machine which has a ten-year life and no disposal proceeds. The machine can either be purchased now for $55,000, or it can be leased for ten years with lease rental payments of $10,000 per annum payable at the end of each year. The cost of capital to be applied is 11% and taxation should be ignored. What should be done? (MCQ)Purchase the machineLease the machineSale or LeasebackDo nothing(2 marks) Q8. A machine is leased using operating lease & the annual lease rental for six years will be $67,000 payable at each year-end. The first rental will be payable at the start of year one. Calculate net present value using a cost of capital of 13%? (FIB) 3816353683000$(2 marks) Q9. A machine is leased using finance lease & the annual lease rental for three years will be $95,000 payable at each year-end. The first rental will be payable at end of year zero in advance. The maintenance cost is $10,000 per annum for three years. Calculate net cash flow for year two using tax save rate of 30% recording in the year cash flow arises? (MCQ)$(66,500)$(73,500)$(7,000)$28,500(2 marks) Q10. ââ¬Å"Assets with unequal lives cannot be compared to a comparison will not be like with likeâ⬠. Which of the following option relates to the above statement? (MCQ)Equivalent annual costProfitability indexAsset Replacement decisionProbability analysis (2 marks) Q11. Project A with an NPV of $4m with six-year duration. Project B with an NPV of $5m with seven-year duration. Project C with NPV of $6m with a three-year duration. Cost of capital is 12%. Which of the following will be ranked second? (MCQ)Project AProject BProject CNone of the above(2 marks) Q12. The net present value of the costs of operating a machine for the next three years is $10,437 at a cost of capital of 16%. What is the equivalent annual cost of operating the machine? (FIB)4114806477000$ (2 marks) Q13. KD Co. is deciding to replace cargo planes every year or every two years. The initial cost of the plane is $200,000. The maintenance charges are as follows: First year it's Nil ; $25,000 at the end of the second year. The second-hand value would fall from $110,000 to $90,000 if it held on the plane for two years instead of a one year. KD Co. cost of capital is 4%. How often should KD Co. replace their cargo planes % what will be the equivalent annual cost of the option they choose? (MCQ)Replace every 1 year $(94,180)Replace every 1 year $(97,900)Replace every 2 years $(139,875)Replace every 2 years $(48,450)(2 marks) Q14. Which of the following statements is/are a limitation for Asset Replacement Decision? (MRQ)Replacement made every time is better than the previous assetAssets replaced have same cash inflows every yearAssumed that Machines replaced have different operational efficiencies than the previous assetIt ignores environmental damage(2 marks) Q15. Capital Rationing is the restriction on organizations ability to invest in all projects due to insufficient funds. Select the relevant statements whether they are true or false. (HA)Hard Capital Rationing is the limit on the amount of finance available imposed by the lending institutions TRUE FALSESoft Capital Rationing is the limit on the amount of finance available imposed by the lending institutions TRUE FALSEProfitability index is a solution applicable to divisible projects only TRUE FALSETrial ; Error method is the solution applicable to divisible projects only TRUE FALSE(2 marks) Q16. Riddle Co. is appraising three investment projects but is experiencing a capital rationing in Year 0. No capital rationing is expected in future, but all the projects are important for the company and cannot be delayed ; a decision needs to be taken. Riddle Co. cost of capital is 6%. Which order should the projects to be ranked? The following information is available: (MCQ)Project The outlay in year 0 ($) Present Value ($) Net Present Value ($)Jeremy 115,000 121,900 12,190James 43,000 45,580 13,674Richard 75,000 79,500 47,700Jeremy, Richard, JamesJames, Jeremy, RichardRichard, James, JeremyJeremy, James, Richard (2 marks) Q17. What is an indivisible project?It is the ratio of the NPV of a project to its investment costIt is the project that must be undertaken completely or not at allIt is the project that must be undertaken completely or partiallyIt is the project restriction due to insufficient funds(2 marks)The following information relates to Q18 ; Q19.Schneider Co. is facing a capital constraint of $150m immediately available for investment. The investments in possible projects are: Project Initial Cost ($m) NPV ($m)W 30 7X 70 12Y 60 12Z 40 16 Q18. If the projects are divisible, what is the NPV generated from the optimum investment programme? (FIB)35115524765 00 $ Million(2 marks) Q19. If the projects are indivisible, what is the NPV generated from the optimum investment programme? (MCQ)$19m$24m$28m$35m(2 marks) Q20. Place the calculation steps of Profitability index in the correct order. (P;D)Monitor the investment made in the project 1Calculate profitability index of each project 2Allocate the funds 3Rank the project 4(2 marks)SPECIFICINVESTMENT DECISIONS (ANSWERS)Q1. AAvoiding tax exhaustion is a benefit for lessee rather than the purchaser. Tax exhaustion is when a business has negative taxable income so cannot benefit from tax saving.Exploiting a low cost of capital is a benefit for the purchaserAttracting lease customers is a benefit to a lessorPotential future scrap is a benefit for the purchaser as the lessee is not entitled to future scrap proceeds Q2. $-50,289Years Cash flows ($) Discount Factor (8%) Present value ($)0 ââ¬â 2 Rentals (23,000) 1 + 1.783 (64,009)2 ââ¬â 4 Tax relief 5,750 3.312 ââ¬â 0.926 13,720NPV (50,289) Q3. CIt is a rental agreement OPERATING Maintenance ; Servicing cost of Lessee FINANCEAgreement for the useful life of the asset FINANCEIncluded in the balance sheet of the Lessor OPERATING Q4. Year 0 1 2 3Investment / Scrap value (400,000) 30,000Maintenance (12,000) (12,000) (12,000)Net Cash flow (400,000) (12,000) (12,000) 18,000DF 5% 1 0.952 0.907 0.864Present value (400,000) (11,424) (10,884) 15,552 Q5. All cash flows are relevant for Buy option Q6. DYear 2017 2018 2019 2020 2021 2022Investment / Scrap value (360,000) 20,000 Tax save 27,000 20.250 15,188 11,391 28,172Workings:2017 (360,000 Ãâ" 25%) = 90,000 Ãâ" 30% = 27,0002018 (90,000 Ãâ" 0.75) = 67,500 Ãâ" 30% = 20,2502019 (67,500 Ãâ" 0.75) = 50,625 Ãâ" 30% = 15,1882020 (50,625 Ãâ" 0.75) = 37,969 Ãâ" 30% = 11,391Balancing Allowance (113,906 ââ¬â 20,000) = $ 28,172 Q7. APresent value of leasing costs PV = Annuity factor at 11% for 10 years Ãâ" $10,000 = 5.889 Ãâ" $10,000 = $58,890 If the machine was purchased now, it would cost $55,000. The purchase is therefore the least-cost financing option, hence choosing the purchase option. Q8. $ ââ¬â 267,866$67,000 Ãâ" 3.998 (annuity factor for 6 years) = $ ââ¬â 267,866 Q9. BYear 0 1 2 3Lease rentals (95,000) (95,000) (95,000) Maintenance (10,000) (10,000) (10,000)Tax save 30% (LR) 28,500 28,500 28,500 (M) 3,000 3,000 3,000Net cash flow (66,500) (73,500) (73,500) (7000) Q10. CEquivalent annual cost is method of converting asset lives to be like with likeProfitability index is the method to overcome capital rationingAsset Replacement decision is correctProbability analysis is method under risk ; uncertainty Q11. BProject A = $4 à · 4.111 (AF 6 years) = $0.973mProject B = $5 à · 4.564 (AF 7 years) = $1.096mProject C = $6 à · 2.402 (AF 3 years) = $2.498m Q12. $4,647EAC = $10,437 à · 2.246 (AF 3 years) = $4,647 Q13. DYear 1 Year Cash flow ($) DF (4%) PV ($)0 (200,000) 1 (200,000)1 110,000 0.962 105,820NPV (94,180)EAC = 94,180 à · 0.962 = 97,900Year 2 Year Cash flow ($) DF (4%) PV ($)0 (200,000) 1 (200,000)1 ââ¬â 0.962 -2 (25,000) + 90,000 0.925 60,125NPV (139,875)EAC = 139,875 à · 2.887 = 48,450 Q14. Assets replaced have same cash inflows every year ; it ignores environmental damageReplacement made every time is like with likeAssets replaced have same cash inflows every year (limitation)Assumed that Machines replaced have same operational efficiencies like the previous assetIt ignores environmental damage, It ignores non-financial aspects (limitation) Q15.Hard Capital Rationing is the limit on the amount of finance available imposed by the lending institutions TRUE Soft Capital Rationing is the limit on the amount of finance available imposed by the lending institutions FALSE Profitability index is a solution applicable to divisible projects only TRUE Trial ; Error method is the solution applicable to divisible projects onlyFALSESoft Capital Rationing is the limit on the amount of finance available imposed by the company itself.Trial ; Error method is the solution applicable to indivisible projects only Q16. D. Jeremy, James, RichardProject The outlay in year 0 ($) Present Value($) Net Present Value ($) Profitability IndexJeremy 115,000 121,900 12,190 0.1James 43,000 45,580 13,674 0.3Richard 75,000 79,500 47,700 0.6Jeremy = (12,190 à · 121,900) = 0.1James = (13,674 à · 45,580) = 0.3Richard = (47,700 à · 79,500) = 0.6 Q17. BIt is the ratio of the NPV of a project to its investment cost (Profitability index)It is the project that must be undertaken completely or not at all (Indivisible project)It is the project that must be undertaken completely or partially (Divisible project) It is the project restriction due to insufficient funds (Capital rationing) Q18. $38.4mProject Profitability Index Ranking Investment ($) NPV ($)W ( 7 à · 30) = 0.23 2 30 Ãâ"0.23 7X ( 12 à · 70) = 0.17 4 20 Ãâ" 0.17 3.4Y ( 12 à · 60) = 0.2 3 60 Ãâ" 0.2 12Z ( 16 à · 40) = 0.4 1 40 Ãâ" 0.4 16Total 150 38.4 Q19. DCombination:W + X Cost $100m NPV $19mW + Y + Z Cost $130m NPV $35mX + Y Cost $130m NPV $24mX + Z Cost $110m NPV $28mY + Z Cost $100m NPV $28m Q20. Monitor the investment made in the project 4Calculate profitability index of each project 1Allocate the funds 3Rank the project 2
Wednesday, October 9, 2019
The House of Lords decision in Bolitho (Bolitho
The House of Lords decision in Bolitho (Bolitho ââ¬Å"The House of Lords decision in Bolitho (Bolitho v City and Hackney HA [1998] AC 232) is a belated and welcome departure from judicial deference to medical opinion but there is still too much deference and more has to be doneâ⬠. Critically comment on the above statement. In any negligence claim, in order to succeed the claimant must show that he was owed a duty of care by the defendant, that the duty of care was breached, and that the breach of duty caused the damage complained of. [1] Kennedy and Grubb comment that the duty of care arises ââ¬Ëfrom a request for medical services by an individual and a consequent undertaking by a doctor [or other health care professional] to provide these services. [2] Margaret Brazier has observed: ââ¬Ë[a] patient claiming against his doctor â⬠¦ usually has little difficulty in establishing that the defendant owes him a duty of careââ¬â¢. [3] The second stage of a clinical negligence action is to show that the doctor has br eached his standard of care. In any negligence claim, the standard of care is set by law and is an objective standard. [4] Words such as reasonable or responsible are normally attributed to such a standard. Such adjectives are not normally equated with a practice that is ââ¬Ëcommonââ¬â¢ or ââ¬Ëacceptedââ¬â¢. With respect to medical negligence claims however, the law has not taken such a view. The case of Bolam v Friern Hospital Management Committee [5] has established that ââ¬Ëa doctor is not guilty of negligence if he has acted in accordance with a practice accepted as proper by a responsible body of medical men skilled in that particular artââ¬â¢. The Bolam case was a decision at first instance, but was later approved by the House of Lords in Whitehouse v Jordan . [6] The courts have continuously taken a protectionist view of the medical profession in clinical negligence claims. Jackson acknowledges that this could be due to the complexity of medical eviden ce, but it could also be explained by a sense of professional solidarity. [7] The medical profession has been highly regarded in society, and the courts have also expressed their respect. In Wilsher v Essex AHA , [8] Mustill LJ comments: ââ¬Å"For all we know, [The doctors in this case] far surpassed on numerous occasions the standard of reasonable care. Yet it is said that for one lapse they (and not just their employers) are to be held liable in damages. Nobody could criticise the mother for doing her best to secure her sonââ¬â¢s financial future. But has not the law taken a wrong turning if an action of this kind is to succeed?â⬠It is interesting to note the difference in policy in cases involving medical professionals. In other negligence cases, the courts have commented that the function of the law of negligence (and the law of torts in general), is to compensate injured parties for loss. The judiciary have had no moral objections to awarding damages in cases where they can apply the ââ¬Ëdeepest pocketââ¬â¢ principle. Thus, in Nettleship v Weston , [9] Lord Denning had no problems in asserting that a learner driver would be held to the same standard of a competent driver (competent would be ascertained on an objective basis by the court), as the driver would be insured and thus, the law will award damages from the deepest pocket. Yet, there has been considerable hesitation in holding doctors negligent for public policy reasons, despite the fact that doctors will be also be insured. Furthermore, doctors working in the NHS will generally not be personally held accountable for the negligence ââ¬â the action is brought against the Trust vicariously and NHS Trusts in England and Wales are part of an ââ¬Ëinsurance likeââ¬â¢ scheme, the Clinical Negligence Scheme for Trusts (CNST) administered by the NHS Litigation Authority.
Tuesday, October 8, 2019
High pressur fiberglass pipes manufacturing process Essay
High pressur fiberglass pipes manufacturing process - Essay Example roduction of this type of pipes started during the 1940s, and they have since been a preferred product, because they are corrosion resistant (FPI, 2013). These pipes are used as a substitute for stainless steel and steel pipes, which are less preferred. Many variants of these pipes are produced under high pressure conditions, and can be made to meet high diameter measures of up to 4000milimeters. The advantages of these pipes, when compared to other types, include that they are stronger, more durable and corrosion resistant (FPI, 2013). Another advantage is that they allow for greater design flexibility, which is evident from the customizable design of the pipes ââ¬â to a wide array of specifications ââ¬â and offering a wider range of shape and fitting profiles (Dubai Pipes Factory Co., 2012). High pressure fiberglass pipes are produced using glass fiber reinforcing material, which is the ingredient that determines the mechanical strength of the pipes. The mechanical strength of the pipe is higher, where higher amounts are used. The arrangement of the glass reinforcement, also determines the strength of the pipes produced. The common glass variants used during the manufactory of these pipes include designation C, E and ECR or advantex variant (FPI, 2013). The fiber glass used during the production of high pressure fiberglass pipes comes in a variety of forms: continuous roving, which offers high mechanical properties; reinforcing mat, which offers multidirectional reinforcement for fittings and pipes and surface veil, which improves environmental resistance and the smoothness of the surfaces (FPI, 2013). In other cases, thermosetting resins are used during the production process. These resins are of a polymeric type, cured using heat and chemical additives. The resins used for the production of high pressure fiberglass pipes are of two main types. The first is polyester materials, including isophthalic, which is mainly used during the production of wide diameter
Monday, October 7, 2019
Client Letter-acc568 Assignment Example | Topics and Well Written Essays - 500 words
Client Letter-acc568 - Assignment Example Therefore, the amount of total tax paid for international transactions of corporations depends on the manner by which deductions and incomes are sourced in the countries where the transactions are taking place. However, I will try to break down the U.S source rules for incomes and deductions. As you know, the U.S government takes these matters seriously and I have every intention of addressing all your issues expertly (Yonah, 2007). According to Dykes, with regards to taxation of source income and deductions, the U.S government adopts a taxation methodology known as the worldwide approach. As indicated by the name, the approach involves taxing the income of the globalized corporation regardless of the source of income, whether the source of the income is foreign based or locally based in the U.S. Under this methodology, your company will face the tax burden that locally based companies are subject to (Dykes, 2011). Therefore, your company will have to allocate its global capital on economic factors rather than tax considerations. In retrospect, your company will promote global efficiency in connection to capital allocation. Unfortunately, the advice your friend gave you is misinformed, but do not despair because there are ways to reduce the amount of tax that your company is going to be liable to the IRS. As per your request, there are a few ways that your company can mitigate tax impact form the U.S with regards to income sourced from foreign nations One such method is keeping active income from foreign sources in offshore locations up to the time when your company wants to repatriate the income back to the U.S. Income arising from your foreign based branch/operations is only going to be taxed until it is repatriated via dividend distributions in your U.S based head offices. This is known as deferral tax. In addition, the U.S allows companies such as yours, a tax credit for
Sunday, October 6, 2019
The Right of Due Process Guaranteed by the Fifth and Fourteenth Research Paper
The Right of Due Process Guaranteed by the Fifth and Fourteenth Amendment to the US Constitution - Research Paper Example One of the principles that is represented in the Constitution is the right to due process which is given in the Fifth and the Fourteenth Amendments. The Fourteenth Amendment expands on the Fifth applying it to a broader audience. Due process is related to how laws are applied and how they are enforced. For example, if an individual has committed a criminal act for which they need to be penalized, they cannot just be thrown in jail, there has to be the process that is under law. In this case the process involves using a warrant, a trial, and sentencing among other steps. Operating without this process is not only illegal in the example, but it is also unconstitutional. While due process is guaranteed by the Fourth and Fourteenth Amendments to the Constitution, the exact meaning of due process is not clearly established. The ambiguity has meant decisions within the Supreme Court as to the meaning of the phrase and whether it applied to the cases that were being heard at the time. These decisions have helped to shape the current interpretation of the law such as the right of defendants to have representation and for accused to be made aware of their rights before questioning. However, some recent Supreme Court decisions appear to go against the right of due process set forth in the constitution. Background The United States was founded by Europe, and as a consequence was governed by them. Because of the great distance and the disinterest of the British government in its colonists the rule that England exercised over the colonies was mild, at least initially. The desire for change came at the end of the war between the French settlers and the British colonists when the British government demanded taxes from the colonists as payment for the men that it had supplied. The desire to tax the colonists, without allowing them representation in the British courts was one of the reasons for the American Revolution. The revolution began in 1776 and the colonists declared the ir independence from their founding country, choosing instead to be ruled by law from within. The Constitution promised rights to all Americans regardless of class and rates and detailed the system of government for America, one that served the people rather than serving itself . The Constitution forbids any individual being deprived of ââ¬Å"â⬠¦life, liberty, or property, without due process of the law...â⬠This right is cited both within the Fifth and the Fourteenth Amendment to the Constitution. The Fifth Amendment applied these rights only to federal courts, while this was expanded for the Fourteenth Amendment to include all states. Due process is not specifically defined within the Constitution, but is generally perceived to mean a judicial procedure that is just and fair, most commonly a trial before peers . It is an important concept and it applies in a wide number of legal cases. What is Due Process? While the Amendments guarantee due process the intention and the legal application of the term is not simple to determine. In particular, the word ââ¬Ëdueââ¬â¢ within the phrase raises significant contention. Is a process ââ¬Ëdueââ¬â¢ if it is within current laws, such as the requirements under law for a trial before
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