Suppose that the Philippine tax schedule given below is being implemented this year. (sorry, disregard the box)Tax PaymentP 1,0004,50014,000Annual IncomeP10,00030,00070,000140,000250,000500,00035,00075,000160,000 How would you characterize the tax system?O a. ProgressiveO b. RegressiveO c. ProportionalO d. Indeterminate based on the given information

The charge that is being levied on goods and services by the government is known as tax. It is…

Answered: How would you characterize the tax…

How would you characterize the tax system? O. Progressive Ob. Regressive O. Proportional Od. Indeterminate based on the given information

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter3: Economic Decision Makers

Section: Chapter Questions

Problem 3.10P

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Question

Suppose that the Philippine tax schedule given below is being implemented this year. (sorry, disregard the box)
Tax Payment
P 1,000
4,500
14,000
Annual Income
P10,000
30,000
70,000
140,000
250,000
500,000
35,000
75,000
160,000

How would you characterize the tax system?
O a. Progressive
O b. Regressive
O c. Proportional
O d. Indeterminate based on the given information

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