Giving reasons classify the following into direct and indirect tax (1) Wealth tax (2) Value added tax

Q: Use the information in the table below to answer the questions that follow. Tax rates for…

A: Tax refers to the compulsory charges levied by the government on its citizen and the citizen. The…

Q: 14. What is the agency responsible for collecting taxes at the O the Federal Tax Office the…

A: The agency responsible for collecting taxes at the federal level is the Internal Revenue Service.

Q: 11: Given the demand and supply system: Pb = 53 - 5 Qb & Pv = 3 + 2 Qv With a specific tax of T^ = 4…

A: Given; Demand function; Pb=53-5Qb Supply function; Pv=3+2Qv At equilibrium:-…

Q: 30. Steve earned $50 in income last year and the current tax brackets are 20% for the first $10 of…

A: Taxes: Taxes are the government levied charges which are being imposed on the material as well as…

Q: If GNPFC is $1900 million and net indirect taxes are $110 million Find GNPMP

A: The information being given to us is as follows:- Gross national product at factor cost = $1900…

Q: What is the tax liability share for consu

A: Tax liability of consumer is depend on the demand curve elasticity if it is elastic then less burden…

Q: Calculate the effects on markets and stakeholders of indirect taxes

A: The economics as a study is based upon the basis of the scarcity of resources in the economy. The…

Q: Which is included in indirect tax? Ca) Excise duty c) Both (a) and (b) (b) Sales tax (d) Wealth tax

A: According to the given question the one which is included in the indirect tax is Option(C) is…

Q: 10. Understanding marginal and average tax rates Using the information provided on the income tax…

A: A marginal tax rate is an increase in tax liability with an increase in per-unit income. The…

Q: Why does a corporation's state income tax cost depend on its marginal income tax rate for federal…

A: Income tax: It is an assessment paid by people or elements relying upon the degree of income or…

Q: Consider the following tax system: Tax Brackets Marginal Tax Rates 1 0 –…

A: Answer: Given that:     Consider the following tax system:   Tax Brackets Marginal Tax Rates…

Q: iscuss various ways to handle property tax reform

A: Tax reform is usually carried out to increase the efficiency of tax administration. To maximise the…

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: The sources of revenue for state and local governments are                              ["the same…

A: Revenue is the income generated by the activities carried out by the business organization or by the…

Q: The economic burden of an excise tax   a. can usually be partially shifted from buyers onto…

A: Excise tax is the type of tax is imposed on the products during their manufacturing process and paid…

Q: Federal revenue consists of taxes levied on

A: Federal revenue refers to the total revenue earned by the government through both tax and non-tax…

Q: Given the following information Qo= 240 - 5P Os = P where Qo is the quantity demanded, Qs is the…

A: After the imposition of tax price paid by consumer increases and price received by producer…

Q: Case #1: Attached is a graph diagram depicting the market for soft drinks. If an excise tax equal to…

A: If $1 per liter excise tax on soft drinks imposed then consumers and sellers, buy or sell less of…

Q: 23. Which of the following is an indirect tax? A tax on company profits consumer goods and services…

A: Hi Student, Thanks or posting the question. As per the guideline, we are providing answer for the…

Q: Tax to GDP ratio is a useful index in showing how effective the government is in collecting taxes…

A: Tax is the compulsory payment or a financial charge imposed by government that contributes to the…

Q: Amount of Tax Due Income Tax Schedule Tax Schedule Tax Schedule Tax Schedule A D $50,000 $10,000…

A: In a market, differ types of tax system are used for different commodities. A regressive tax is one…

Q: Read the following and answer question? ‘Exit tax’ to hit South Africans looking to emigrate from…

A: *Answer:  Keynesian economics propose government intervention when there is a positive or negative…

Q: Which of the following is an example of a direct tax? Check all that apply. A tax placed directly on…

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Company tax is a: (a) Progressive, direct tax; (b) Progressive, indirect tax; (c) Proportional…

A: Q.1.2 Tax imposed on net income of the company is called corporate tax. The corporate tax or company…

Q: Explain and provide an example of the following: a) b) c) a transfer payment indirect tax direct tax

A: Public expenditure refers to the expenditure that is incurred by the government in providing goods…

Q: Determine government revenue and dead weight loss after tax.

A: Taxes are imposed on individuals or companies involuntarily to fund government operations by a…

Q: identify the various classification of income tax and explain briefly each.

A: An tax may be a tax imposed on people or elements (taxpayers) in regard of the income or benefits…

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: Excise taxes Select one: O a. bring in approximately 50% of state and local tax revenue. O b.…

A: Excise Tax: Excise taxes are internal taxes levied on selling specific goods and services, such as…

Q: Supply After Tax 3.50 3.00 Supply Before Tax 2.50 Price per pack (dollars) 2.00 1.50 DEMAND 1.00…

A: According to the given graph, before tax equilibrium price and quantity of cigarette was $2 and 10…

Q: Define net taxes.

A: A payment that is compulsory and is levied by the Government to fund the expenditures of the state…

Q: uppose demand is represented by P = 100 - 2Q, and supply is represented by P = 5 + 3Q. If the…

A: Given  Demand equation: P=100-2Q          .... (1) Supply equation: P=5+3Q                 .... (2)…

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: The largest source of federal government revenue is which of the following? Other royalties and…

A:

Q: Q.1.2 Company tax is a:  (a) Progressive, direct tax; (b) Progressive, indirect tax; (c)…

A: Progressive tax refers to the situation where the tax amount increases as the taxable income…

Q: Which of the following is the most correct statemeht ab burdens? A tax burden is distributed…

A: The correct answer here would have been :- A tax burden falls most heavily on the side of the market…

Q: Define income tax.

A: A tax is a compulsory payment to the government. It is a source of revenue receipts for the public…

Q: QUESTION 3 What tax per item t will maximize total tax reveue T = tq if the demand is p+ g= 1000 and…

A: We are going to find the Tax incidence to consumer to answer this question

Q: Determine from the tax table provided the amount of the income tax for each of the following…

A: The USA government collect tax mainly in four categories single, married filing jointly or…

Q: Refer to Figure 4-4. The per unit burden of the tax on buyers is a. P2 minus P0. b. P2 minus P1.…

A: Given: D is the demand curve, S is the supply curve, P1 and Q1 are equilibrium price and quantity…

Q: Taxation (Malaysia) (minimum 150 words each ) 1. Advantages and disadvantages of direct and…

A: 1. Advantages of Indirect Taxes  They are one of the solitary method in which the poor people can…

Q: Consider the following tax structure: Income Bracket Marginal Tax Rate - $6,000 $6,000 $25,000 $0 -…

A: Answer; a. Tax = $ 29,800   b. Average Tax Rate = 33.11%   c. Highest marginal Tax Rate =…

Q: The vertical distance between points A and B represents the original tax. ↑Price 12 11 10 + 9 6 3 2…

A:

Q: Paying a tax on gasoline when filling up your car is an example of a (A Income tax B Property tax…

A: The markets are considered to be the place where the interaction between the buyers, and sellers…