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- Discuss the scope of local public finance; a) Management and control over revenue generation and resource utilizationDiscuss the Challenges to Local government finance in the area of Political, Social, Economic and culturalThe main revenue sources for state and local governments are ____________. Group of answer choices import taxes sales taxes corporate taxes property taxes
- Categorize each of the following funding schemes asexamples of the benefits principle or the ability-topay principle.a. Visitors to many national parks pay an entrancefee.b. Local property taxes support elementary andsecondary schools.c. An airport trust fund collects a tax on each planeticket sold and uses the money to improve airportsand the air traffic control system.The sources of revenue for state and local governments are ["the same as", "different from"] those of the federal government.The largest source of revenue for state governments is ["Sales tax", "Miscellaneous taxes and fees, such as tolls on roads and public transportation tickets.", "Individual (federal) income tax.", "Property tax."]Identify the term being referred to: A type of external financing that does NOT require a corporation to return the amount borrowed at a specific time and to regularly pay its cost. *
- The two largest sources of tax revenue for theU.S. federal government area. personal and corporate income taxes.b. personal income taxes and payroll taxes for socialinsurance.c. corporate income taxes and payroll taxes forsocial insurance.d. payroll taxes for social insurance and propertytaxes.All of the following are characteristics of a valueadded tax system, except: (a) Value-added taxes are taxes on consumption (b) The end user pays value-added taxes (c) Value-added taxes are charged at each stage of product development (d ) Value-added taxes are charged only on the raw materials for product developmentDefine the three principles of sound tax system (Fiscal Adequacy, Equality or Theoretical Justice, Administrative Feasibility)(please do not copy answers on the internet, a brief explanation will do. thank you)
- Discuss at least three problems and issue which beset efficient and effective tax administration in the PhilippinesThe "backstop" approach to carbon tax refers to: (Select one) a. A shared value of carbon tax between the federal and provincial governments b. A minimum standard set by the federal government, which the provinces must meet or exceed c. A revenue neutral tax d. A maximum standard set by the provinces, which the federal government can meet or exceedIdentify the term being referred to: A benefit given by the government that allows entities to have their tax liabilities reduced to special rates *
