Value Added Tax - 3058 Words

UNIVERSITI TEKNOLOGI MALAYSIA FACULTY OF MANAGEMENT Financial Management Value Added Tax; Goods and Service Tax ABDOLMABOOD FOOLADIVANDA | MH101017 | Prepared for Prof. Dr. Melati bt Ahmad Anuar April, 2011 1. Introduction VAT is a system in which the tax is collected on the value added to the goods at each stage of sales. The dealer selling the goods collects tax on the full price at which he sells the goods. At the end of a tax period he reduces from the tax so collected by him, the tax which has been charged to by the dealers from whom he purchased goods during the tax period and deposits the balance to the Government treasury. In other words the value added to a product by a business is the sale price charged to its†¦show more content†¦3. Copy of the constitution document e.g. partnership deed for a partnership firm, Memorandum and Articles of Association for a company. 4. Board Resolution authorizing the signatory to sign the application in case of company. 5. Proof of identification of the authorized signatory e.g. voter identity card, passport, driving license. 6. Proof of principal place of business e.g. rent receipt, lease agreement, electricity bill. 4.3. Casual Trader: The persons, who uses occasional transactions in the nature of business involving purchase, sales, supply or distribution of goods or conduct any exhibition-cum-sale, are required to: * Apply for permission in form VAT-9 with fee of Rs 500. * To give security not more than worth Re 1 Lac. * To issue retail Invoice. To furnish detail of goods brought from outside Chandigarh for exhibition-cum-sale. To get his bill books authenticated by delivery order before commence on Sale. 4.4. C-Invoicing amp; Maintenance of Account Books: There are two types of invoices provided under VAT, Act. * VAT Invoice * Retail Invoice 4.4.1. Vat Invoice: The word VAT Invoice to be mentioned prominently: * It is to be numbered consecutively printed mechanically or electronically. * Name, Address and TINNoof selling dealer. * Name, Address and TINNoof purchasing dealer. * Description, quantity, unit price, value and rate andShow MoreRelatedValue Added Tax of the Philippines3307 Words   |  14 PagesValue-Added Tax is a form of sales tax. It is a tax on consumption levied on the sale, barter, exchange or lease of goods or properties and services in the Philippines and on importation of goods into the Philippines. It is an indirect tax, which may be shifted or passed on to the buyer, transferee or lessee of goods, properties or services. 1. What is a VAT registered individual? * Any person or entity who, in the course of his trade or business, sells, barters, exchanges, leases goodsRead MoreValue Added Tax And The Implementation Of China Essay1690 Words   |  7 PagesQiming Wang 9/11/2016 Value Added Tax and The Implementation in China Brief history of value added tax VAT was introduced in 1954 in France, being the invention on an engineer – Maurice Laure – who worked as a fiscal inspector, banking employee and as an employee of a big retailer. If at the beginning VAT was created and destined for big companies, from 1996, at the proposal of the Finance Minister, it begins to be applied also in the retail sector. At the end of his career, the tax author remembered:Read More A report on Value Added Tax Essay1528 Words   |  7 PagesA report on Value Added Tax Introduction Value Added Tax originated in France in 1954 and is under implementation in more than hundred countries. Value Added Tax is perceived by many as means to promote neutrality and uniformity of tax burden and to provide incentives for increased productivity and industrialization. The spread of VAT to the developed and the developing countries alike certainly, makes for an interesting study. Financial Times (London) too stressed the growing importanceRead MoreValue Added Tax And Implementing China Essay2371 Words   |  10 Pagespaper Qiming Wang 9/11/2016 Value Added Tax and Implementation in China Introduction As a type of consumption tax, as of January 1 2014, 164 countries employ a Value-added Tax in the world. All Organization for Economic Co-operation and Development (OECD) members except the United States now applied VAT. According to the research by OECD committee, consumption tax was a large source of tax revenues, and â€Å"the VAT accounted on average for 6.6% of GDP and 19.5% in total tax revenues in OECD countriesRead MoreThe Role Of Value Added Tax In The UK701 Words   |  3 Pageson national economic development. After Income Tax and National Insurance, value added tax has become the third largest source of income for the British government. Value Added Tax is referred to as VAT. Its predecessor was Purchase Tax in the United Kingdom. And the government began to change to Value Added Tax officially in April 1973. Since January 4, 2011, the standard value added tax of the UK was increased from 17.5% to 20%. Value added tax applies to imports, business transactions and servic esRead MoreAccounting Aspect of Value Added Tax in Bangladesh1634 Words   |  7 PagesAccounting Aspect of Value Added Tax in Bangladesh Term Paper On Accounting Aspect of Value Added Tax in Bangladesh Prepared By : Name : Md. Mahmudul Hassan Roll : University Roll : Class Roll : Supervisor’s Name and Designation Mr. Md Nurajjaman Assistant professor Department of Accounting Govt. B.M College, Barisal Date of Submission : OBJECTIVES OF THE STUDY LEARNING OBJECTIVES After studying you shall be able to understand : âž ¢ The concept of Value added tax âž ¢ CharacteristicsRead MoreValue Added Tax and Total Sales Tax Essay750 Words   |  3 PagesAnswer 5, 6 p. 71 5. What two things must you normally specify in a variable declaration? You must specify the variable type and identifier. 6. What value is stored in uninitialized variables? Some languages assign a default value as 0 to uninitialized variables. In many languages, however, uninitialized variables hold unpredictable values. Algorithm Workbench Review Questions 3-10 p.71 3. Write assignment statements that perform the following operations with the variables a, b, and c. Read MoreValue Added Tax and Instructor Explanation1215 Words   |  5 PagesCounty has an assessed value of $150,000. Its owner qualifies for an old age exemption of $10,000 and a homestead exemption of $20,000. The property tax rate is $5 per $100 AV. What will be the property tax bill on this property? Student Answer: $7,500 $7,000 $6,500 $6,000 Instructor Explanation: @ Chapter 10. This owner has an adjusted (for exemptions) AV of $150,000-$30,000 = $120,000. If the tax rate is $5 per $100 of AV, then the tax bill will amount toRead MoreValue Added Tax Case Study710 Words   |  3 Pagesfamous for its zero tax status, the introduction of Value Added Tax(VAT) is expected to happen at a rate of 5%, with some limited exceptions including basic food items, health care, and education. The UAE is planning to implement it on January 1st, 2018. According to Nikola Kosutic, the Research Manager for Euromonitor International Middle East, the UAE’s first major tax will have varying degrees of impact on different segments of the retail sector. The value-added tax is a tax on the amount by whichRead MoreThe Tax System830 Words   |  4 PagesIntroduction The income tax system in our country is cumbersome, complex, and not user friendly. There are many problems associated with our system and most of the country wants a reform to the tax system. Some simply want only changes to the existing system while others want a completely new design. There are a few different alternatives available to us all which have their upside and downside. The Subtraction Method Value Added tax is one system which will be discussed here as a result of its many

Business Information Management Strategy for the RBS...

INTRODUCTION This assignment was given by Madam Manaf as the subject of his assignment of Business Information Management Strategy to all degree students with international business information technology business (CU202). Based on this assignment students were required to make a case study on computer RBS failure Caused by inexperienced operative in India ‘. Based on the case study is also required to give an idea of comparative advantage of IS / IT outsourcing in the company. Then, based on the case study of this question me are required to describe the main Threats to take outsourcing IS / It to the company. Next, I need to make recommendations on measures to prevent the occurrence of a failure in the computer system. In addition,†¦show more content†¦Next, help me find this case study trip. In addition, the summary made to help me learn the important issues of this case study consented. 1. Critically evaluate the competitive advantage that can be gained by companies through IS/IT outsourcing. Provide suitable example to support your answer. The competitive advantage is the favorable position an organization seeks in order to be more profitable than its competitors. Competitive advantage involves communicating a greater perceived value to a target market than its competitors can provide. This can be achieved through many avenues including offering a better-quality product or service, lowering prices and increasing marketing efforts. Sustainable competitive advantage refers to maintaining a favorable position over the long term, which can help boost a companys image in the marketplace, its valuation and its future earning potential. (Margaret Rouse, November 2012). The outsourcing is when businesses need expertise or skills that they dont have within their organization, they often turn to outsourcing to solve their problems. Comparative advantage of external resources by each companys IS / IT was good to help the company work involving IS / IT as their company system. Reference case study given, The Royal Bank of Scotland has hired young techniciansShow MoreRelatedMeasures Companies Need to Take in Order to Prevent Computer Systems Failure819 Words   |  4 Pagestype on computer this includes private email messages, bank account password, and credit card number. Most computer users dont give security a second thought but the reality is that failure to take some simple steps could result in identity theft or worse. If connected to the Internet via a high-speed connection (DSL or cable), hackers can turn computer into a zombie to launch attacks against thousands of other users and computers. There are several ways that can be taken to avoid failure in a computerRead MoreEssay on Royal Bank of Scotland3331 Words   |  14 PagesToday, The Royal Bank of Scotland (RBS) is one of the biggest banking institutions with its capabilities to provide world-class services whilst maintaining its reputation as a top financial services provider in the banking industry. Its leadership in this market is remarkable, and so are the ways the bank’s governing body has been able to manage the complexities, challenges and changes that come with the industry. Understanding that the Royal Bank of Scotland (RBS) has recently undertaken a seriesRead MoreRisk Breakdown Structure Sample2663 Words   |  11 PagesBreakdown Structure ID RBS Element Definition 1.0 1.1 1.1.1 1.1.2 Internal Business Partner Business Sponsorship Business Department Staffing Business Processes Corporate department with the business problem to be solved or business function to be supported. Business case, support from business department, executive involvement, degree of active involvement by business sponsor. Business analysts reporting within business department, how dedicated or fragmented business department reps are, availabilityRead MoreDell Business Strategy Change2013 Words   |  9 PagesDell Computer have recently announced changes to their business strategy and supporting supply chain. They will no longer focus on a made to order direct sales model for their personal computers. Nor will they continue to refine their renowned supply chain model that supported their sales model. Instead, they will be looking to produce personal computers with fixed configurations at lower prices. This essay looks at why Dell have changed their strategy, and then considers the customer value propo sitionRead MoreDell Business Strategy Change Essay1928 Words   |  8 PagesDell Computer have recently announced changes to their business strategy and supporting supply chain. They will no longer focus on a made to order direct sales model for their personal computers. Nor will they continue to refine their renowned supply chain model that supported their sales model. Instead, they will be looking to produce personal computers with fixed configurations at lower prices. This essay looks at why Dell have changed their strategy, and then considers the customer value propositionRead MoreFactors Affecting The Operations Of The Banking Industry2688 Words   |  11 Pagesof the banking industry or NatWest as a business. The environmental analysis is essentially important for every business as it helps in the understanding of the business environment and trends, it also aids in decision making when planning in an organization (Johnson et al., 2011). External Analysis The external analysis is essentially useful as it highlights the opportunities that can be explored by an organization and the threats that can hinder a business operation (Johnson, Whittington, ScholesRead More00002525 Develop A Media Plan4575 Words   |  19 PagesEverybody is watching TV and You tube these days and we can advertise in between the programs and that will be variety of effective. Distributing flyers is also good option because postman will be deliver with mails and then local people can get information regards our new offers and deals. Budget / Cost for advertisement: Advertisement is cost a bit higher than before because we are going to use all new modes of advertisement. Internet is our preferable medium and we are going to put ads on faceRead MoreRisk Management Task 1a4779 Words   |  20 PagesJIT Task 1 Risk Management Risk Management From the last decade risk management is the most researched and exciting area in the financial industry as it elaborates how to minimize and avert the hazard of risk from the portfolios of different assets and from the operations of financial institutions. Regulators and depositors mainly emphasize the risk management and according to them risk management is an essential ingredient to enhance the value of shareholders and increase their level of confidenceRead MoreRisk Management Models for Use by the Project Manager2406 Words   |  10 Pages RISK MANAGEMENT MODELS FOR USE BY THE PROJECT MANAGER A research paper submitted in partial fulfilment of the requirements for the subject PJB4088 – Project Management at the UNIVERSITY OF JOHANNESBURG Student Name: Lusanda Njenge Student Number: 201109115 Date: 15th October 2012 Table of Contents ABSTRACT 2 1. INTRODUCTION 2 2. LITERATURE REVIEW 2 2.1 What is a Risk 2 2.2 Risk Management 3 3. RISK MANAGEMENT MODELS 4 Read MoreBarclays Strategic Analysis6105 Words   |  25 PagesBCG Matrix 13 Competitive Advantages 17 Present and Future Strategies 17 Conclusion 19 References 20 Barclays Strategic Analysis In this report – Barclays Strategic Analysis, we shall investigate the strategy of Barclays plc over the past few years within a financial services sector generally and banking sector particularly. We will provide information about its nature of business, size, and structure. Using some analytical tools such as SWOT, PESTEL and

Copernicus And The First Pioneers Of Science - 1525 Words

With each new development in science comes conflict, mostly from those who don’t believe that science follows the teachings of their religion or allies with their beliefs in an almighty power or God. Looking back in history at some of the great names in human scientific achievement, such as Copernicus, Galileo, and Darwin, we see that with each genius discovery came some outcry from religious groups. Nikolaus Copernicus was one of the first pioneers of science. Until 1540 science had long been a servant of the Christian religion, but Copernicus brought about change, and with that change came persecution. Copernicus’ work, although not immediately and widely accepted, lead directly to the undermining of centuries of assumption and superstition. He was the first to state that not only was the earth not the center of the universe, but it also orbited the sun. Later in history came Galileo who brought Copernicus ideas to practical fruition. He was also on the receiving end of much religious persecution, even to the point of living out his last years under house arrest, forbidden from writing and publishing. Then in the 1800’s Charles Darwin researched and published revolutionary biology books on the theory of evolution, his most widely known book being â€Å"The Origin of Species†. Even today, long after his death, his works receive much religious debate; religion today is no more apt at dealing with scientific theory than it was hundreds of years ago; this is because it is aShow MoreRelatedThe Scientific Revolution Essay1165 Words   |  5 PagesAristotle and Copernicus, one must consider the circumstances under which these men lived to understand the differences. The most obvious of these is the time in history. Aristotle came almost 2000 years earlier in the astronomy field. While Copernicus had set out to glorify the great religion of his time, Aristotles views came 200 years before Christ was even born! Although the book gives the impression nothing of significance in astronomy happened in the time between Aristotle and Copernicus, professionalRead MoreThe Revolution And Reformation During The Renaissance1205 Words   |  5 Pagesuniverse orbited the Earth, while Earth, in the center of the universe, did not move at all. This was called the geocentric model and was the theory accepted and taught by the Catholic Church for thousands of years. In 1543, Polish scholar Nicolaus Copernicus published the book On the Revolutions of the Heavenly Spheres, publishing it posthumously in fear of punishment from the Catholic Church. His book rejected Ptolemy’s geocentric model and proposed a heliocentric, or sun-centered, universe. Most expertsRead MoreFaith and Reason Essay1035 Words   |  5 Pagesconsidered anti-Semitic that reason supported religion. The Counterbalance Foundation website observes that before this time, science that contradicted religion was wrong. â€Å"When we look at the history of sc ience, we see that in fact it owes an immense debt to the religious world. In the early Middle Ages – a time when Christian Europe turned away from scientific thinking -- the science, mathematics, and astronomy of the ancient Greeks was kept alive in the Islamic world, where it was further developed andRead More The European Expansion and its Effects on the World Essay1260 Words   |  6 Pagestechnological advances, which in turn stimulated, and were stimulated by science.† (p. 403) The European scientific revolution was fueled by the blending of â€Å"liberal† and â€Å"servile† arts, in other words, science and technology. Because of the European expansion taking place throughout the world, new commerce and industries were advancing, creating the need for new technology and science. The theories and inventions that Copernicus, Galileo, and Newton provided were the fist major advances during theRead MoreThe Origins of Modern Science Essay2484 Words    |  10 PagesThe origins of modern science date to the seventeenth century, a period so marked by innovative thinking that it has been called the `century of genius....Breaking free of the bonds of tradition, these sixteenth-century thinkers developed the scientific method, a means of understanding based on a systematic observation of natural phenomena and experimentation regarding causes and effects (Merriman, 311). The ideas of many scientists, and philosophers, such as Copernicus, Johannes Kepler, andRead MoreThe History of Physics Essay1534 Words   |  7 PagesHistory of Physics In order to attempt to trace the origins of the modern science that we now refer to as â€Å"physics,† we must begin with the origin of the term itself. Taken from the Greek word â€Å"physika† meaning growth or nature, physics most obviously began as the intelligent study of the human environment (Webster 393). From superstition and religious practices, the foundation of all other sciences was born. These concepts have subsequently grown into what we regard todayRead MoreMars: The Red Planet1226 Words   |  5 Pagesgenerated by further exploration will inspire our young people to study math, and science, and engineering and create a new generation of innovators and pioneers.† (George W. Bush, a speech given at NASA, notable-quotes.com). Mars is also fourth planet from the sun. (See fig. 1 on page 5.) Mars is obviously the topic for this paper in which I’ll be writing. I will be telling about the size, mass, and density in my first paragraph. The second paragraph is going to be about the composition of MarsRead MoreHistory of Science and Technology1800 Words   |  8 PagesScience and Technology has been around from the beginning of time. It evolved from the everyday efforts of people trying to improve their way of life. Throughout history, humankind has developed and utilized tools, machines, and techniques without understanding how or why they worked or comprehending their physical or chemical composition. Before we go any further a definition has to be given for both Science and Technology because they are both different in their own right even though the two areRead MoreEvolution Theory and Christian Faith1936 Words   |  8 Pagesthat has been instrumental in the birth and development of modern science , but faith in God . In general, those who pioneered modern science believed in His existence . While studying science , they sought to discover the universe that has been created by God and reveal the laws and the details in his creation . Astronomy experts such as Leonardo da Vinci , Copernicus , Keppler and Galileo ; father of paleontology , Cuvier ; pioneer of botany and zoology , Linnaeus ; and Isaac Newton , which is dubbedRead MoreGalileo Galilei, Astronomer/Mathematician5105 Words   |  21 Pagesphysicist who is closely associated with the scientific revolution. His achievements include improving the telescope, a variety of astronomical observations, the first law of motion, and supporting Copernicanism effectively. He has been referred to as the father of modern astronomy, as the father of modern physics, and as father of science. His experimental work is widely considered complementary to the writings of Francis Bacon in establishing the modern scientific method. Galileos career coincided

Business Taxation Theory and Practice for Corporate System

Question: Discuss about theBusiness Taxation Theory and Practice for Corporate System. Answer: Introduction: Extensive and widespread transformation has happened in the system of corporate system of taxation that has been made in the recent years. The reformation has expressed the interest of creating a system of taxation which is easy to understand, modest to engage and difficult to evade (Leigh and Blakely 2016). The changes in the tax have supported the investment in business along with those that work hard and save. The reformation has been with the objection of maintaining competitive position. Discussion: The major areas of reformation have been made in the reduction in the rate of the corporate taxation. The development and changes includes the redefining of the corporate tax base comprising the elements of OECS base erosion and shifting of BEPS project profit. The developments that have been made includes the practices and policies concerning the evasion of tax and unacceptable avoidance of tax (Burman et al. 2016). The UK legislative process lag behind the announcement of proposal with certain changes are already law and other developments are very likely or practically about to become law. A large number of tax reformation was announced during the months of November and December. Major reformation in the tax include reduction in the rate of corporation to 19% with effect from 2017. Other major developments include revision of loss utilisation rules to enable more flexible usage of loss to be carried forward however with the restriction of carrying forward the loss to 50 per cent of the relevant profits (Vanhove 2017). The restrictions are applicable only to the profits that is beyond five-million-pound sterling. Additionally, another major development include the new rules relating to the deductibility of the interest that also includes the fixed expenditure ratio of 30 per cent of earnings before the interest and tax, depreciation and amortization. US on the other hand states that the income that is earned by the non-us person is dependent on the factor whether the income has any nexus with the US and the degree of non-us person existence in US (Vernimmen et al. 2014). Before the major development in tax legislation a non-us companies engaged in the US trade or business was imposed a tax of 35% corporate tax on the income generated from the US sources that are effectively associated with the business. The federal government significantly revised the federal system of taxation forever by reducing the corporate income tax rate to 21% flat rate. In spite of the major developments tax is in the headlines in a manner where few may have imagined for a year or two ago. The major developments have led to certain issues for business that is required to be considered from the OECD base erosion and Profit shifting project that calls for wider level of information regarding taxation. Issues such as allocation of risk, different method of pricing transactions that may unlikely take place among the unrelated parties. Issues such as transparency of tax authorities that covers the introductions of template representing the profits and taxes that are paid by the multinationals in each nation where the corporate firms conduct the business (Vatn 2015). Changes in this area may create an impact on the strategies of business. The issue relating to transparency represents the degree of public agenda by the firms of their tax affairs continues to be an element of agenda for political and media exchange. According to Yan and Luo (2016) it is evidently clear that most of the British business does not consider that transparency in reporting would be sensible for business. The strong response was that a large number of companies were dedicated to raise the level of transparency regarding their tax affairs however country to country reporting would not be delivering supportive info and will be expensive to prepare. In the modern age of tax transparency, the taxation council policy has forced the functions of corporate tax to change from the endeavour that was entirely profit seeking to one that extremely considered risk management. In the modern age of tax transparency, efficient tax reduction and cash savings tax has resulted in exclusive position and association of the businesses (Bell and Rowe 2017). Therefore, the involvement of the companys auditor in the functions of corporate tax can be considered as the vital determinant of tax results. The implications are however not directly clear whether the effective reduction the rate of taxation, savings of tax and risk of tax management are mutually exclusive or can be attained simultaneously. Furthermore, it is not clear that whether the outcomes of tax would be associated to the auditor offering tax planning services or tax compliance service. According to Schaufeli, Maslach and Marek (2017) threats to the relation of auditor is considered to be greater when they offer substantial amount of tax compliance and associated services. This helps in suggesting that audit forms offer higher level of transparency compliance services that would be less inclined to support higher effective tax reduction and cash tax services. The threat to reputation are the most likely implications to the corporate firms that are associated with auditors providing greater degree of tax planning. Though the corporate firms face the reputational threats shoots from the auditors increased sensitivity of having tax positions overturned, it is probable that the auditors offering tax planning service may seek to lower both the level of tax and risk associated to tax. The stakeholder and the non-governmental organizations on the other hand have also been impacted by the change that are made in the level of corporate taxation (Noked 2014). The infrequent internal critics and the challengers of the financial sector could be considered harshly. A group of non-government organisation stated in their report by criticising the status of Luxembourgs in the form of secrecy of jurisdictions that pointed out the conflict of interest with the overseas policies with response being ferocious. The conflict among the financial governance sector and the increased political governance is considered to be consistent with the patter of offshore centres. The present legal framework does not adequately provide guarantee to the entire operational independence to the stakeholders and non-government organizations (Kolk and Muller 2015.). An important aspect of the stakeholders and non-government organization is the complete immoral discrepancy among the texts of law and other application in the judicial life. The international pressure has enabled adapting stricter legal constraints to the financial activities that judicial application. An important consideration of BEPS is that it aims to align with the rights of tax that are more closely associated to economic substance. Though it may sound inoffensive however in some cases it results in reinforcing what the current system of taxation of trying to attain and therefore it is desirable. However, in another instances it represents adding up of new principles in such a manner that it could conflicts with the pre-existing values. Conclusion: Conclusively the desire of aligning the tax of profits with the actual activities created by them might appear direct and sensible which the current system of taxation is trying to attain. Corporate firms may at times organise themselves in the egregious manner which comprises of overall separation of taxable income from the actual activities that are entirely motivated by the avoidance of taxation. Therefore it is desirable to prevent this. Reference List: Bell, C.D. and Rowe, W.L., 2017. Recent Tax Developments in Virginia Taxation. InAnn. Tax Conf.(Vol. 63, p. 241). Burman, L.E., Gale, W.G., Gault, S., Kim, B., Nunns, J. and Rosenthal, S., 2016. Financial transaction taxes in theory and practice.National Tax Journal,69(1), p.171. Kolk, A. and Muller, A., 2015. Responsible Tax as Corporate Social Responsibility. Leigh, N.G. and Blakely, E.J., 2016.Planning local economic development: Theory and practice. Sage Publications. Noked, N., 2014. Integrated Tax Policy Approach to Designing Research Development Tax Benefits.Va. Tax Rev.,34, p.109. Schaufeli, W.B., Maslach, C. and Marek, T. eds., 2017.Professional burnout: Recent developments in theory and research. Taylor Francis. Vanhove, N., 2017.The Economics of Tourism Destinations: Theory and Practice. Routledge. Vatn, A., 2015. Markets in environmental governance. From theory to practice.Ecological Economics,117, pp.225-233. Vernimmen, P., Quiry, P., Dallocchio, M., Le Fur, Y. and Salvi, A., 2014.Corporate finance: theory and practice. John Wiley Sons. Yan, A. and Luo, Y., 2016.International joint ventures: Theory and practice. Routledge.