Industry and Employment Law in the UAE - Free Essay Example

Sample details Pages: 8 Words: 2471 Downloads: 3 Date added: 2017/06/26 Category Law Essay Type Research paper Level High school Topics: Employment Essay Did you like this example? TABLE OF CONTENT Executive Summary The UAE keeps up a position as the significant exchange and venture center point for a huge geographic district, which incorporates the Middle East and North Africa, as well as South Asia, Central Asia, and Sub Saharan Africa. The nation positioned nineteenth in the World Economic Forums 2013 2014 Global Competitiveness Index and 23rd on the World Banks 2013 Doing Business report, enhancements of five and three spots individually from the earlier year. Multinational organizations refer to the UAEs political also financial soundness, quick populace and GDP development, effective and quickly developing capital markets, a nonattendance of corporate and individual assessments, or any proof of orderly debasement, as positive variables keeping up the UAEs allure to remote speculators, with internal FDI recording a 20% year on year increment to reach $12 billion, representing in excess of 40% of the aggregate internal FDI of th e whole GCC The UAEG is then again, opening up its exchange areas in accordance with its WTO commitments. Don’t waste time! Our writers will create an original "Industry and Employment Law in the UAE" essay for you Create order Venture laws and regulations are evolving and are relied upon to end up more helpful for remote venture. There are right now a few major government laws in draft status intended to address various the worries that have demoralized outside interest in the UAE. These laws incorporate upgrades to the current Companies Law, Insolvency Law, and Arbitration Law, in expansion to a proposed Foreign Investment Law. The UAEG has openly pronounced its responsibility to cut formality for outside financial specialists with the expectation of not just turning into the most competition ve economy in the Gulf however one of the top economies all inclusive Introduction about the Industry you selected for the project United Arab Emirates is a nation placed in the Middle East bordering the Gulf of Oman and the Persian Gulf. Neighboring nations incorporate Oman and Saudi Arabia. It has a key area along southern methodologies to Strait of Hormuz, a travel point for world raw petroleum. The geolo gy of United Arab Emirates is moving sand rises of desert and mountains in east (Ministry of Labor, 2011). The administration framework is an alliance with defined forces designated to the UAE central government and different forces held to part emirates. The head of state is the President and the head of government is the Prime Minister. United Arab Emirates has an open business economy in which the costs of merchandise and administrations are dead set in a free value framework. United Arab Emirates is a part of the Council of Arab Economic Unity (CAEU) (Gulftalent.com, 2007). UAE Labor Laws under Practices in the Industry Employment laws United Arab Emirates is a nation placed in the Middle East bordering the Gulf of Oman and the Persian Gulf. Neighboring nations incorporate Oman and Saudi Arabia. It has a key area along southern methodologies to Strait of Hormuz, a travel point for world raw petroleum. The geology of United Arab Emirates is moving sand rises of desert and mountains in east (Ministry of Labor, 2011). The administration framework is an alliance with defined forces designated to the UAE central government and different forces held to part emirates. The head of state is the President and the head of government is the Prime Minister. United Arab Emirates has an open business economy in which the costs of merchandise and administrations are dead set in a free value framework. United Arab Emirates is a part of the Council of Arab Economic Unity (CAEU) (Machado, 2014). All exile representatives working in the private division must be supported by their superintendent (or free zone power in the interest of the management) and enlisted with the Ministry of Labor or material free zone power (for work grant purposes) and Department of Immigration inside the Ministry of Interior (for habitation visa purposes) (Machado, 2014). Keeping in mind the end goal to acquire sponsorship, workers must submit authenticated instructive and expert capabilities, as well as experience restorative examinations for transmittable maladies. There are confinements on a workers capability to move starting with one patron then onto the next (i.e. to viably move employments) and different elements become possibly the most important factor including length of administration, gaining levels and instructive capabilities (Ministry of Labor, 2011). UAE nationals working in the private area should likewise be enlisted with the Ministry of Labor, despite the fact that they wont oblige enrollment with the Department of Immigration (Common Gulf Labor Laws. 2011). Vocation of UAE nationals A boss is under an obligation to consider UAE nationals for all opportunities preceding captivating a remote national. Certain parts, including HR chiefs, secretaries and Government Liaison Officers are saved for UAE nationals through Ministerial regulations, in spite of the fact that these are not generally upheld in practice. Particular parts including retail, protection and managing an account are liable to portion prerequisites to utilize UAE nationals of 2%, 5% and 4% of their workforces year on year, separately (Laubach, Ayad, 2011). The UAE government is progressively offering subsidies and trusts to private part representatives to utilize UAE nationals and government powers are considering an organizations accomplishment of Emiratisation focuses as a component of any open tendering procedure (Gulftalent.com, 2007). The Emiratisation necessities dont make a difference in the free zones. UAE nationals are secured from end of occupation in the private segment and managements who fall under the Ministry of Labor locale must get the Ministrys assent before releasing a UAE national worker. Recruitment offices and occupation organizations (Laubach, Ayad, 2011). The sourcing and supply of work is greatly controlled, with the exchange permit for such business exercises being limited to UAE nationals, with an extra prerequisite for the General Manager of the business to be a UAE national with a college degree (Machado, 2014). The engagement of people from a labor supplier without the suitable exchange permit can render a management obligated to punishments for captivating people without fitting sponsorship and can likewise have individual repercussions for the single person (Norkartoos.net, n.d). Woman Labor Laws The UAE arbitrates family law and individual status matters for Muslims compliant with translations of Islamic law, with no choice to look for arbitration as per a common code. The law specifically oppresses ladies by allowing men special status in matters of separation, legacy, and tyke custody.emirati ladies can acquire a separation through khula (a no-issue separation) along these lines losing their budgetary rights. They might request a separation in excellent circumstances (Norkartoos.net, n.d). Females can just inherit one-third of advantages while men are qualified for inherit two-thirds (Common Gulf Labor Laws. 2011). According to (Wolfson, 2014), the law further victimizes ladies by allowing Emirati men, however not ladies, to have upwards of four polygamous relational unions and prohibiting Muslim ladies, yet not men, from wedding non-Muslims. Emirati ladies wedded to non-nationals dont naturally pass citizenship to their youngsters; a right reveled in by Emirati men w edded to remote life partners (Machado, 2014). Notwithstanding the presence of sanctuaries and hotlines to help secure ladies, aggressive behavior at home remains a pervasive problem. The punitive code gives men the lawful right to train their wives and kids, including through the utilization of physical violence. The Federal Supreme Court has maintained a spouses entitlement to reprimand his wife and youngsters with physical ill-use (Gulftalent.com, 2007). Juveniles Labor Laws In the UAE, whipping is precluded in schools yet permitted inside the family and may be forced as criminal discipline. As indicated by UAE law on adolescent wrongdoers, whipping may be forced for a kid in excess of 16 years for homicide, threatening behavior and liquor related offenses, burglary or illegal sex outside marriage (Wessing, 2014). Sharia standards likewise allow whipping of youthful youngsters as the time of criminal obligation is situated at 7 years old years, which is underneath the suggestions of the Committee on the Rights of the Child. At long last, what is extremely stressing, the UAE still applies capital punishment. In 2011, 31 individuals were sentenced to death and one executed (Norkartoos.net, n.d). In 2010, the Amnesty International watched that four individuals were sentenced to death, including three who were minors at the time of the demonstration, which is denied by the Convention on the Rights of the Child to which the nation is gathering (Wolfson, 201 4). Gap Analysis with the purpose to identify missing areas According to Motei (n.d), Emirates Airline is attempting to be aggressive and attractive by utilizing diverse administration styles. The administration style of Emirates embodies a mix of participatory and key administration. Sheep (1984) pointed Vital administration is a progressing process that assesses and controls the business and the commercial enterprises in which the organization is included; evaluates its rivals and sets objectives and procedures to meet all current and potential contenders (Wessing, 2014). The organizations key zenith manages arranging and creating activities for managers, interfacing legitimate utilization of assets to expand the execution of organization in their outer surroundings (Dubaifaqs.com, 2011). Emirates use vital administration style to make the mission of organization, vision and goals, beginning approaches and arrangements, regularly as far as tasks and projects. All these are intended further bolstering attain a good fortune in the travel market (Wessing, 2014). Participative administration is the administration style where choices are counseled with the subordinates, by their administrator, before usage. This administration style serves to make great connection in the middle of director and worker .Participative administration is similar to just administration which permits representative to take solid choice making part (Dubaifaqs.com, 2011). In the wake of securing this administration, organization will get more benefit and can diminish its cost. The administration of Emirates includes their representatives and different stakeholders to partake in deciding. Emirate swayed their representative to give their thoughts to recognize and get hierarchical objectives, to tackle issue and different choices that can straight influence the organization. The administration of Emirates brings choice in meeting with their subordinates (Motei, n.d). Suggestions Diphtheria: spread individual to individual through respiratory droplets. Danger is higher if blending with local people in poor, packed living conditions. Hepatitis A: spread through expending tainted nourishment and water or individual to individual through the fecal-oral course. Danger is higher where individual cleanliness and sanitation are poor (Dubaifaqs.com, 2011). Hepatitis B: spread through contaminated blood and blood items, sullied needles and therapeutic instruments and sex. Danger is higher for those at word related danger, long stays or successive travel, kids (uncovered through cuts and scratches) and people who may need, or appeal, surgical strategies abroad. Tetanus: spread through tainting of cuts, blazes and wounds with tetanus spores. Spores are found in soil around the world. An aggregate of 5 dosages of tetanus antibody are suggested for life in the UK (Dubaifaqs.com, 2011). Promoters are generally prescribed in a nation or circumstance where the rig ht treatment of damage may not be promptly accessible. Typhoid: spread primarily through utilization of tainted sustenance and beverage. Danger is higher where access to satisfactory sanitation and safe water is restricted (Gulftalent.com, 2007). Conclusion Monetary development in the United Arab Emirates is relied upon to stay solid. The economy is assessed to have developed by 4 ½ percent in 2013, backed by tourism, cordiality, and land. The land segment specifically has seen soak recuperation, with costs in the Dubai private land business having expanded quickly in chose territories. We anticipate that genuine GDP development will stay firm at 4 ½ percent not long from now, determined by progressing force in the non-oil economy. By difference, further development in oil generation could be constrained in the connection of an abundantly supplied worldwide oil market. Expansion is relied upon to increment tolerably, determined by climbing rents.Looking ahead, development in the advancing years will profit from various megaprojects and Dubais fruitful offered for the Expo 2020. The aggregate expense, pace of execution, and financing of the new megaprojects stay unverifiable. If not actualized judiciously, these ventur es could intensify the danger of a land bubble. Additionally, these ventures may make extra budgetary dangers for Dubais administration related substances (Gres) and the saving money framework in light of the still significant obligation overhang from the 2009 emergency. Monetary approach enough keeps on loosening up the huge extension that was placed set up in the wake of the 2008/9 worldwide budgetary emergency. The monetary allowance execution of the elected and emirates governments for the initial nine months of 2013 was extensively in accordance with using arrangements. The increment in Dubais land enlistment charges from 2 to 4 percent last October was a welcome venture in tending to hypothesis in the land market, and further increments could be thought about on the off chance that the pace of cost increments does not subside sufficiently. While 2014 funding for a few emirates are not yet accessible, we comprehend that the pattern of combination is wanted to proceed with no t long from now. Recently executed regulations on advance focus and land introduction for banks will help secure the soundness of the managing an account framework, which has remained sufficiently promoted and fluid. The new credit fixation points of confinement will help contain dangers to banks accounting reports in the setting of the recently arranged megaprojects. It will now be essential to concur, as arranged, on move ways for banks that are as of now not meeting as far as possible. The new greatest credit to-esteem degrees for home loan loaning will give banks a cushion against undue exposures, while additionally serving to breaking point the level of theory in the land market. Looking ahead, the Central Bank could consider further tightening these tenets if cost increments in the land business sector stay substantiate. References Gulftalent.com, (January, 2007). UAE Labour Law. GULF TALENT https://www.gulftalent.com/repository/ext/UAE_Labour_Law.pdf Machado, Deep ak. (2014). UAE Labour Law 2014-Download PDF copy. Emirates Diary https://emiratesdiary.com/uae-labour-law-2/uae-labour-law-2014-download-pdf-copy Dubaifaqs.com, (January, 2011). UAE Labour Law in Abu Dhabi, Dubai, Sharjah and other emirates. DUBAI FAQS. https://www.dubaifaqs.com/labour-law-uae.php Norkartoos.net (n.d) Update on Changes in UAE Labour Law other related developments. CHANGES IN LABOUR LAWS. Norkartoos.net. https://www.norkaroots.net/Forms/UAELabourLaws.pdf Laubach, Charles,. Ayad, Omar H. (2011). The International Comparative Legal Guide to: Employment Labour Law 2011. A practical cross-border insight into employment and labour law. Global Legal Group. https://www.afridi-angell.com/items/limg/legalguide_employment20111.pdf Ministry of Labor, (Oct, 2011). UAE Labor Law à ¢Ã¢â€š ¬Ã¢â‚¬Å" guide. https://cvwarehaus.com/UAE%20Labour%20Law-%20short%20guide.pdf Common Gulf Labor Laws. (July, 2011). Labour Law in Dubai UAE 2012. The Common Labour Laws In Mid dle East Countries. https://commongulflaborlaws.blogspot.com/2012/07/labour-law-in-dubai-uae-2012.html Wolfson, Herbert S. (Oct, 2014). Current Trends In Labour And Employment Law In The UAE. IIR MIDDLE EAST. https://www.informa-mea.com/Global/Trainings/HR/labourlaw/Brochure/2014/BC5321.pdf Wessing, Taylor. (Feb, 2014). International Law at Work à ¢Ã¢â€š ¬Ã¢â‚¬  February 2014: UAE employment law update. THE LAWYER. https://www.thelawyer.com/briefings/international-law-at-work-february-2014-uae-employment-law-update/3017006.article Motei, (n.d). Labor Law in the United Arab Emirates. MOTEI.COM. https://www.motei.com/files/13 Things You Must Know As An Expat.pdf

Jamaica Is An Island Of The Caribbean - 1352 Words

Jamaica is an island located in the Caribbean, it is west of Haiti and south of Cuba. It makes its money from; Industry - textiles, tourism, food processing. Agriculture - bananas, coffee, sugarcane, and citrus. Exports - alumina, bauxite, sugar, bananas, and rum (National Geographic, 2015). Jamaica has a strong population of nearly 3 million people – which is a lot considering it is smaller than Connecticut. The people have a life expectancy of 75 years old and a literacy rate of 88 percent (National Geographic, 2015). According to Countries and their Cultures, the population is 1 percent East Indian, 7 percent mixed, 90 percent black – some of which are descents of slaves, and a small amount of whites and Chinese. Although Patois, or Creole, is widely spoken in Jamaica the official language of the country it English. Even so, they maintain a specific rhythm and melody of the English language that is unique to only the Jamaican people. Culturally they are family and ho me oriented, â€Å"the Jamaican family includes a close-knit web of aunts, uncles, cousins, and grandparents† (Kwintessential, n.d.). They provided emotional and financial support for on another – family is the most important group of people in their lives and whom they spent most of their time with. According the United Nations Children’s Fund (UNICEF), about 34% of the poorest 20% of Jamaicans have books available at home. However, availability for 20% of richest is over double that, 73%.. Therefore, coming asShow MoreRelatedEssay on One of the Largest Islands in the Caribbean: Jamaica1929 Words   |  8 PagesXamayca, also known as Jamaica, is one of the largest Islands in the Caribbean. In this essay I found some pretty interesting things I didn’t know about Jamaica. I hope you read and enjoy it as much as I did researching and writing about one of the most visited countries. It originally home was the home of the Arawak and Taino Indians. 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Cultural Differences And Gender Appropriateness - 867 Words

To be transgender is not a choice, but rather of form of sexuality that is often shunned in American culture. Transgender individuals are those who transgress the gender norms of the dominant culture or the culture to which they belong. Transgender oppression occurs when people whose gender expression does not qualify as â€Å"normal† within their society. Throughout life, society teaches â€Å"cultural differences and gender appropriateness† (437) in which is set as the norm in the American culture. It is important that we must â€Å"move away from the culturally derived values that are assigned to expressions of feminity and masculinity† (444) and allow sexuality to be free from standards. Society has created transgender oppression, by not attempting to understand nor accept a wider range of sexual expression. Throughout history, people who are transgender are viewed as â€Å"mentally ill (426) and are victimized through our political system. 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Advanced Taxation Finance Act

Question: Discuss about the Advanced Taxation for Finance Act . Answer: Introduction The following assignment presents a structure and brief operation of the taxation system in United Kingdom along with the concept of international taxation system. Payment of taxation system in UK involves three different levels of government i.e. central government, national governments and local government. Companies are required to pay taxes to the government as per specified under the Finance Act which involves international taxation (Egger et al. 2015). The document also contains the critical evaluation on the tax avoidance as per the international taxation system considering the current provisions of Finance Act. The assignment also considers a discussion on handling the tax avoidance based on the international agenda as well as among the world leaders and the organization of Economic Co-operation and Development in recent years. The territorial economy is facing tax avoidance since several recent years by organizations as well as individuals. Tax avoidance act is followed by the assessees or tax payers to reduce or avoid the payment of tax amount using the legal provisions under the tax act. It is different from tax evasion which involves illegal techniques to avoid taxability. However, the act of tax avoidance is increasing at high rate in the current years it is important to keep a check and handle such activities (Sackman et al. 2015). Discussion The taxation system in United Kingdom is considered to have a longest code across the world since the year 2009. Act of Finance contains all the legal provisions and regulations for the measurement and payment of tax amount by the individuals and corporations in the form of local and international taxation. It has been observed that the largest revenue collection by the government of UK is collections from individual taxpayers followed by national insurance, value added taxation and tax from corporations (Ohemeng and Owusu 2015). The Corporation Tax Act 2010 regulates the determination and payment of tax by the organizations including listed companies and foreign enterprise having branch offices in UK. The companies are required to compute the tax liabilities by considering trading profits, profits on sale of investments or assets or any other income including the payment of international taxation. If the company is involved in manufacturing or trading of products and services, they are required to pay duties and taxes covering under the provisions of international taxation system. Federal Law of United States of America considers tax evasion as an illegal attempt by the taxpayer to evade the tax payment, which may result in fines and imprisonment as punishment. As per the taxation system of US, citizens are required to report illicit profits as income while filing the income tax returns. Australian Taxation Office conducted investigation for tax evasion on more than 800 Australian resident taxpayers. Although the act of tax evasion is undertaken by legal means, most of the taxpayers are taking undue advantage to evade the payment of tax. Considering the acts of tax evasion, New Zealand taxation system plans to introduce foreign trust registry and enforcement agencies on local tax regulation to investigate the activities of tax evasion. It is observed that the country has been facing the tax regime since long time and therefore it becomes essential to review the tax evading acts to safeguard the government revenues by way of tax payment. However, the tax authorities and government are encountering issues with respect to the tax avoidance activity involving by the corporations to minimize the tax liability. Although the act of tax avoidance is legal and opted by companies within the scope of tax provisions and frameworks, yet it is necessary for the government to tackle the same. According to Armstrong et al. (2015), 11.5 million of files and data collectively called as Panama Papers that reveals the high scale of tax avoidance acts around the globe. In view of the recent survey, it has been noticed that many companies are taking undue advantage of the provisions on tax liability relaxations. The taxation system of UK includes the tax liability on the companies for payment of dividends to the investors along with the payment of tax under profits and other income. For instance, the company is liable to pay 30% tax on gross dividend paid to its investors. However, the companies are allowed to claim deduction for such pa yments against the companys tax bill as a result of tax credit that was reduced to 10%. Besides, it has been argued that as the tax avoidance is legal, it does not affect the legality of the provisions and regulations of taxation system. Gallemore and Labro (2015) explained that the avoidance of tax is followed by the assessees within the purview of rules and frameworks laid under the Finance Act. Many tax- payers forms and establish subsidiaries or entities in offshore authority to get the tax haven benefits. As contained in the Finance Act, Tax Haven is a territory or area where rates of income tax or other inheritance tax is levied either at lower rates or at nil rates. On the contrary, Christensen et al. (2015) stated that the companies are taking undue advantage of the tax avoidance facility provided by the government that affects the economic growth of UK and affects its Gross Domestic Product. Therefore, it is essential to prevent the tax avoidance following by the companies across the globe to maintain the countrys economic growth and infrastructure. The government of UK has taken steps to clamp down the tax avoidance by introducing several penalties and charges to the taxpayers for the tax evasion steps. Considering the international taxation system of UK, with the largest networks across the world and including more than 100 countries. The taxation policies as per the Finance Act have been amended to reduce the interest withholding taxes and royalties to benefit the taxpayer companies. Yet, companies or assesses are taking steps to avoid the tax liabilities that are illegal within the regulations of taxation system. Even though the tax evasion consists of legal activities, it affects the government revenue using the financial instruments. Payment of tax is a social responsibility that the individuals should company with as it provides impact on the daily lives of the society. Companies and individuals should be fair and socially responsible in paying the tax liability to the government. Tax avoidance is considered to be unethical practice as the integrity of the fair taxation system. Hence, taxpayers should not follow the practice of tax evasions because it constitutes damage to the society and government revenue collections. Being an internationally competitive territory, it is significant for UK to have its taxation system adequately clear for the enterprises to be able to perceive with clarity. Apparently, the taxation system in the country has become unstable because of significant changes in the provisions (Peyer and Vermaelen 2016). Therefore, the companies and other taxpayers are facing issues with respect to the benefits of tax avoidance to mitigate the tax liability. Some of these issues are discussed as under: One of the major tax evasion issues in UK taxation system is additional cost of tax encountered by the assessees. It occurs because the application of tax avoidance provision in a legal manner is critical and complicated. Therefore, the companies often need to hire tax professionals to provide assistance on legal matters (Hanlon, Maydew and Thornock 2015). Another issue that is faced by the companies to follow tax avoidance provisions is encountering the mistakes in adopting the appropriate provisions and their application in accounting information. It lacks the transparency in presenting and measuring the tax amounts with necessary adjustments. In case of Starbucks, it has been identified that the company paid corporation tax at 8.1 million in 2015 but faced the criticism for lack of translucence in payment of tax amount with fairness (DeBacker, Heim and Tran 2015). Increase of tax avoidance applications by the companies lead to experience illegal activities to get the maximum benefit with respect to the amount of tax liability. Companies like Google and Amazon experienced criticism for avoiding tax payments on sales revenue of around 395 million and 3.35 billion respectively. Reportedly, the companies merely paid a corporate tax amounted to 6 million and 1.8 million respectively (Russett 2015). Therefore, tax avoidance schemes followed by the several taxpayers are not in accordance to fair practice with the provisions of Corporation Act in UK. Accordingly, the government and tax authorities take steps to mitigate the risk of tax avoidance as well as to follow the provisions with fair practice. Recognized commissions plans and conducted measures for global clamp down for the purpose of tax avoidance in reaction to the issue of Panama Papers (Kane 2015). The commissions created the registers for providing the benefits to the taxpayers as well as the government to identify the actual tax liability. In order to tackle the tax avoidance government also takes steps by amending the related provisions more stringently and clearly. There has been imposition of interest and penalties by the government with respect to the illegal acts of application of tax provisions. Since many companies take the advantage of forming small companies and subsidiaries in the offshore areas where tax rates are almost negligible, government has restricted the entries in certain ways. For instance, a company is not allowed to create more than one subsidiary in the tax haven territory. Similarly, if a subsidiary company, one or more, having a turnover more than the limits specified under the corporation tax act, the respective holding company is required to pay such tax (Genschel and Rixen 2015). As provided by Beer and Loeprick (2015), companies are avoiding to pay taxes because of imposition of high tax rates by the government. Such huge amount of tax liabilities hampers the companys profitability, net income and capital employment amounts. Consequently, the assessees consider tax avoidance feature within the purview of provisions and frameworks. Hence, it cannot be said that that companies are following illegal practice to minimize their tax liabilities. In context to the avoidance of tax, international taxation system is affected on a larger scale, which requires the study of tax provisions of other countries. Any company involved in manufacturing and dealing in export- import business has to follow the taxation criteria of such foreign countries. Additionally, the companies providing services abroad and generating incomes in foreign currency, then they fall under the liability of tax provisions of that country. In such case, companies are liable to pay taxes as per the provisions of the related country that might be higher in comparison to that in the home country. Therefore, companies often follow the provisions of tax avoidance to minimize the tax liabilities (Dermine 2016). Mis-utilization of tax avoidance sometimes arises due to lack of proper knowledge and appropriate selection of relevant provision. As international taxation vary between the countries it leads to double taxation liability on the companies which means taxation of same income in two different countries. Therefore, to mitigate the double taxation companies apply the provisions to avoid double taxation, which is considered to be legal. Government in context to taxation system takes step to create transparent and clear provisions for fair collection of taxable amount (Alldridge 2015). Therefore, in order to generate fair trade practices and collection of tax revenues, government amends the provisions of finance act by imposing restrictions on transferring of money, mode of transfer of payments and creation of new companies. For instance, an assessee is not allowed to transfer the amount of money in cash mode if it exceeds the specified limit (say 2,000). Payment made in cash mode gives the payer and receiver a chance to avoid accounting records and eventually avoid the amount in computation of taxable income. Therefore, in order to minimize the risk of tax avoidance the system of tax act have been amended to restrict the payments in cash mode (Contractor 2016). Further, in context to the international taxation system, a transaction should be according to the arms length price or at fair price whichever is evident. Many companies undertake the transactions at low price and displays lower amount of profits in the books of accounts to avoid the tax liability (Buckley et al. 2015). However, as per the provisions of taxations such trading is restricted and has to be done at the arms length price to generate and disclose the correct profit in the books of accounts. In the same way, transactions in case of transfer pricing, that takes place between the related companies, have to be conducted at prevailing market price to disclose the correct and fair profitability. For instance, in the case of Vodafone in the year 2010, one of its stores was shut due to the controversy in tax payment of around 6 billion. It is important to have a better understanding on tax avoidance by the companies to apply the provisions in correct and fair manner. It should be correctly disclosed in the books o accounts and financial reports for the use of shareholders, creditors, government and other stakeholders. Companies are required to follow the ethics and due diligence for ascertaining the taxable amount to maintain the benchmark of business standards. Although companies who earn large amount of turnover often try to lower their corporate tax bills but that should be completely by legitimate means (Jaafar and Thornton 2015). In case, the companies follow tax evasion systems to minimize the tax bills by following black box pacts where the trading takes place in personal manner instead of commercial, then the same shall not be accepted. Therefore, it is important to clamp down the tax avoidance practice with respect to the local and international taxation system. Fair payment of taxes is essential to improve the countrys economy as well as GDP in context to the financial position and infrastructure. Additionally, government take steps to prevent the misuse of tax avoidance provisions by creating limitations, penalties and fines on the corporate as a means of punishment (Edwards, Schwab and Shevlin 2015). At the same time, international taxation system also plays important role though the government and companies have to face several difficulties in following the systems correctly. Companies often adopt plans and tricks on international tax system to avoid the tax liability by taking deduction on several transactions and charges in countries with high taxes. Companies also try to take the opportunities by exploiting the mismatch tax provisions in different countries. Another aspect that companies follow is treaty shopping that is used to disclose income in such a way that reduces the taxable amount (Hahn 2015). The government and tax system committees create arrangements to take measures on resolving the issues related to the tax evasion and misuse of tax avoidance provision. Contribution on various techniques to be planned by the government and approach to integrate the tax system within the companies. The professionals as tax consultant are required to provide their duties by maintaining the ethical issues and code of conduct by following the provisions in correct manner to maintain the transparent taxation system (Edwards, Schwab and Shevlin 2015). Conclusion In view of the above discussion, it can be concluded that the taxation system is critical and complex for appropriate application of provisions and regulations. According to the Corporation Tax Act 2010 in United Kingdom, limited companies whether listed or not including foreign companies need to pay tax on incomes and gains. In case of small companies with the maximum profit income of 300,000 are required to pay tax at the rate of 20% whereas if the amount of profits exceeds 300,000 then the tax rate becomes 21%. All the companies are required to file the annual accounts with the government and tax committee within nine months from the date of closing of financial year. These are certain norms imposed by the government to maintain the fair practice for generating tax liability amount and its respective payment. As the government experience huge tax avoidance and tax evasion issues with respect to local and international taxation system, it is important to regulate restrictions and limitations on the nature of trading. In order to provide benefits and relaxations on determining the tax liability, government has allowed certain deductions and claims towards the companies. However, undue advantage and misuse of exemption provision have given rise in tax evasion process. Such process includes shifting of profit to the tax haven jurisdiction, transfer of money in cash using different names and purpose and dealing the transaction at personal level. Therefore, the government needs to tackle the tax avoidance as a high priority to mitigate the risk of tax evasions. As the act of tax evasion results in loss of revenue collection to the government, it is essential to impose limitations on the processes of trading, transfer and collection of money. 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