Discuss the principles of a sound tax system

Q: What is the relative importance of taxation to the economy of the country

A: Taxes are a source of government revenue which is charged on the goods and services purchased by the…

Q: How does a sales tax work? A. A tax is levied on the value of real property or land. B. A tax is…

A: Taxes are mandatory contributions levied by a government entity, whether local, regional, or…

Q: Income tax is a a. Local tax b. Special tax c. Tax on persons d. Regressive tax e.…

A: Taxes are mandatory payments placed on individuals or businesses by a government agency, whether…

Q: 17. To which of the following government programs would a single, cross-country truck driver with no…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: Most businesses pay corporate income tax to the federal government based on the company's corporate…

A: The corporate income tax is paid based on the company's operating earnings.

Q: What is the difference between Direct and Indirect tax?

A: The nations around the world have various decision making, and the policy making authorities, who…

Q: Year 1 Tax Worksheet Income taxed at 30% Total Tax Paid Person Year 1 Income Income taxcd at 15% Amy…

A: Given, Tax rate:15% below income of 50,000,30% above income of 50,000Government budget =…

Q: Indirect taxes: Definition Explain why governments impose indirect taxes. Distinguish between…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Tax revenue of the government includes : (a) Income tax (b) Corporate tax (d) All of these (c)…

A: According to the given question In simple words we can generally said that tax revenue is defined as…

Q: What are the classification of taxes? And please describe and explain each

A: Taxes are the payment which households made to government of country . It is a compulsory payment…

Q: Define the three types of taxes (Proportional tax, Progressive tax, Regressive tax)

A:

Q: Income Amount of tax 10,000 2,000 50,000 10,000 100,000 20,000…

A: 1)20% 2)20% 3)20%

Q: What is the relative importance of taxation to the economy of the country? Discuss clearly the…

A: A tax is a governmental organization's mandatory financial payment or other forms of levy levied on…

Q: What are the characteristics of Taxes, please discuss each,

A: Taxes are the payment made by citizens of country to government of the country and citizens does not…

Q: What can you say about Tax incidence in our country, who carries the burden more? Give examples and…

A: Taxes are unintended fees placed on individuals or companies and levied by a government agency –…

Q: Under which type of taxation do you pay a higher percentage the more money you make? A Progressive B…

A: Taxation refers to the process through which a government or taxation body imposes or levies a tax…

Q: Income        amount of tax    10,000          2,000 50,000          2,000 100,000        2,000…

A: A Progressive Tax is a tax for which the percentage of income paid in taxes increases as income…

Q: What are the classifications of taxes? Describe each briefly.

A: Taxes can be classified under three types. Direct and Indirect tax Ad-valorem and specific tax…

Q: What are the characteristics of Taxes? Discuss each briefly. (Please include the references, I…

A: Taxes are the compulsory payments imposed by government on the taxpayer to collect funds for…

Q: Use the information in the table to answer the following question Income Amount of % of Income Tax…

A: There are three types of tax: 1. Progressive  2. Regressive  3. Proportionate

Q: What is the difference between progressive and regressive tax system?

A: Answer: In the progressive tax system the level of taxes rises with the increase in income, the…

Q: What is the importance of taxation

A: Taxation is proportional to a person's financial status, encouraging social and economic equality.…

Q: Define the three principles of sound tax system (Fiscal Adequacy, Equality or Theoretical Justice,…

A: The tax system is defined as a legally regulated system of public relations based on principles that…

Q: What are non-tax sources of public revenue?

A: The term "public finance" refers to the study of government revenue and expenditures. It examines…

Q: Discuss the objectives of Taxation.

A: Taxation and government spending are component of fiscal policy which is used by the government in…

Q: What is taxation and describe the evolution of philippine taxation and how does it affects to the…

A: Taxation differs from other forms of payment, such as market trades, in that it does not require…

Q: Taxation; an essential fiscal policy tool for moblizing resources for socio-economic development…

A: The above mention passage, it is talking about taxation and fiscal policy regarding taxation and…

Q: $0 to $8,000 10 15 $8,001 to $35,000 $35,001 to $70,000 $70,001 to $144,000 $144,001 and up ding to…

A: 1) According to the chart income tax is progressive tax The tax rate rises as income rises so the…

Q: Examine the four different companies in the table, which shows their yearly income and their tax…

A: Regressive tax : The rate of taxation decreases as the income of taxpayers increases. Progressive…

Q: Give a brief example of progressive tax system.

A: Out of the three taxes system one of these is a progressive tax system. In a progressive tax system…

Q: A new elected government want to reform its tax system. As an economist you are hired to advise the…

A: When a taxing body, typically a government, levies or imposes a financial responsibility on its…

Q: Discuss the effects of direct taxes on consumer behavior.

A: Direct tax is the tax that is directly paid to the government by the individual or an organization…

Q: Discuss how a government might use taxation to affect the distribution of income

A: In an economy, the inequality of income distribution can be explained by the situation when a richer…

Q: What is progressive tax

A: A tax based on the ability of the taxpayer to pay is called a progressive tax. It is a system of…

Q: Explain and expound why taxation is unavoidable in any state be it rich or poor. Supply facts to…

A: GDP. or the gross domestic product is the value of all the final goods and services which are newly…

Q: Assume a state's general sales tax is 6%; this is an example of a _______________ income tax.

A: Assume a state's general sales tax is 6%; this is an example of a regressive income tax. The correct…

Q: What is regressive and degressive tax?

A: In order to raise money for important public projects like providing the best infrastructure and…

Q: talk in detailed about more than 4 importance of taxation

A: Residents are taxed concerning their financial conditions, in this way reassuring social and…

Q: What is the nature of this income tax system? regressive progressive O proportional

A: Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: Make a graph showing the spending and tax revenue of your state government for as many years as you…

A: Answer is given below

Q: What are the characteristics of Taxation? Discuss each briefly. (Please include the references, I…

A: Public finance is a subpart of economics that studies the expenditure and revenues of the public…

Q: Give a brief example of regressive tax system

A: There are three tax system which are:- (1) Proportional tax system (2) Progressive tax system (3)…

Q: 1. Match the description to the type of tax, v Tax on the use of vehicles, gasoline, alcohol,…

A: Since we only answer up to 3 sub-parts we will answer the first 3. Please resubmit the question…

Q: 40. The most efficient tax system has a broad tax base and a low tax rate. A) True B) False

A: Tax is a compulsory payment by the individuals and firms or businesses to the government for making…

Q: Define progressive tax.asap

A: We know that A tax refers to an amount imposed on the person, commodities or any other item to earn…

Q: nich among the following is a direct tax? [A] Excise Duty [B] Sales Tax [C] VAT [D] Income Tax

A: According to the given question the direct tax is Option(d) is correct that is the income tax Reason…

Q: What can you say about Tax incidence in our country, who carries the burden more? Give examples and…

A: Tax incidence The economic cost of a tax is distributed among those who are impacted by it, which is…