1. What is the relative importance of taxation to the economy of the country? Give at least three and discuss each clearly.

Q: a. According to the benefits-received principle of taxation, O the higher one's income, the higher…

A: In an economy, government taxation has a significant impact on the behavior of the people and the…

Q: Your Finance Minister considers making a tax reform. He asks you, as a senior tax administrator, to…

A: There are five basic requirements that must be satisfied by a good tax system : Fairness Adequacy…

Q: 1. Explain the concept of efficiccy loss in taxation.

A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…

Q: Suppose a high-income person, a middle-income person, and a low-income person purchase identical…

A: Mortgages interest is one of the most utilized tax breaks/deductibles.  Most countries have a higher…

Q: Explain briefly the three main purposes in exercising taxation power.

A: Taxation is defined as the power of accumulation of revenue and raiserevenue from the people to…

Q: What are the two aspects of taxation? Explain each. (Please include the references

A: Taxation refers to levying of tax by a government authority. It is done to raise tax revenue. The…

Q: Distinguish between the benefits-received and the ability-to-pay principles of taxation. Which…

A: According to the benefit principle of taxation, those who receive the benefits from government…

Q: Question 2 The ability-to-pay principle says that: O the amount of tax paid depends on the measure…

A: Taxation: - Taxation is the imposition of some charges by the government of a country on the…

Q: Contrast the benefits-received and ability-to-pay principles of taxation. Which of the following…

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

Q: Discuss the consequence of a rise in direct taxes to the economy as a whole

A: Taxes: The direct tax included the income tax that is levied on the income of an individual. Income…

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: xplain the benefits principle and the ability-to-pay principle. What are vertical eguity and…

A: Microeconomics is the study of how people and businesses allocate resources and set prices for…

Q: ) What type of taxation does a Sole proprietorship have? Single or double B) What type of taxation…

A: Answer is given below

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: 3- Why the government sector imposes a tax on firms and households.

A: Government spending plays an important role in stimulating the economic growth of an economy because…

Q: What kind of system does the U.S currently employ?

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

Q: 3)  Are excise taxes, like those on tobacco, gasoline, and alcohol, Progressive, Proportional, or…

A: Regressive tax imposes more burdens on poor households than the rich ones because it is same…

Q: Explain the types of tax liability in the Turkish Tax System by giving examples

A: The Turkish tax system is a vital component of the economy, and it is divided into three major…

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: Pls help me answer these 2 multiple questions. Thank you! 1. The individual income tax is a…

A: The individual income tax is a manifestation of this system of progressive taxation.   When the tax…

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: 14. What are the three tools of fiscal policy? Tixes a. b. c.

A: The fiscal policy is the way or process to balance the economic activities in an economy. For…

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: Within the context of taxation policy, many economists have preferred the use of consumption tax to…

A: The income tax is the tax that is levied on the income of the people directly. It is collected,…

Q: Government collects the largest percentage of its revenue in which of the following ways?

A: Taxes refer to the monetary payment made to the government of a nation on the purchase or sale of…

Q: To discourage the consumption of a product, the government should impose a tax on the consumers…

A: Taxes are the payments made to the government when a consumers purchase a product. Taxes increase…

Q: Assume you are a fresh graduate from UPSA with Public Finance as one of your specializations. You…

A: Taxation is one of the most important aspects of a country. The government receives the money by…

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: What are the theories and bases of taxation? Explain each. (Please include the references, I really…

A: There are 2 main theories of taxation : The force of tax collection continues upon the hypothesis…

Q: 10. Which of the following best describes government revenue? a) Government programs designed to…

A: Government of a nation needs money to finance its spending.  Government has two sources of…

Q: 4.7) Consider a national income tax that is structured as follows: Income Marginal tax rate…

A: d.The tax is the unilateral payment that the individuals should make to the government for various…

Q: Discuss the taxation system of the United States. What kind of system does the U.S currently employ?…

A: Taxes are non-voluntary taxes imposed on individuals or companies by a government agency (local,…

Q: TRUE or FALSE and EXPLAIN The corporate income tax is a progressive tax because profits from…

A: Tax can be considered as the contributions made by the public toward government expenditure. It is…