What are the fundamental principles of taxation?

Q: What is progressive tax? Write its merits and demerits.

A: A tax is described as one that the government imposes on citizens who participate in the economy in…

Q: What are cannons of taxation?

A: The administrative components of a tax are referred to as canons of taxation. They have to do with…

Q: What is Double Taxation?

A: Taxation refes to a system of levying taxes on individuals or firms in the economy. Taxes are a…

Q: What are the three distinct terms to describe taxes?

A: A tax is a unilateral payment made by the people towards the government for various purposes. The…

Q: Why is gasoline heavily taxed? Explain

A: A government plays a crucial role to overcome the problem of scarcity in the economy. It regulates…

Q: What are the Average Tax Rates?

A: Average Tax rate is the sum of total taxes paid divided by total taxable income. Under the…

Q: What are the main categories of U.S. federal government taxes?

A: Taxes are the major source of revenue of government. Government collects taxes from the public and…

Q: Explain tax abatements and how are they different from tax expenditures?

A: It affects the application of a credit to the whole taxes owed. Though circumstances may change,…

Q: State and explain the principles of taxation that would be used in designing and implementing any…

A: A taxation regime plays an important role in the economic development and economic growth of a…

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: What is indirect tax? Write its four definitions.

A: Tax is compulsory contribution on the wealth of a person or a body of person for the services of the…

Q: Where does our taxes goes? What are the things that the government do to our taxes? Who are those…

A: As economies emerged, economic agents increased their demand for goods and services. Production of…

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: he Philip

A: The new tax reform is considered to be a good news for low-income and middle-income earners of the…

Q: 5. Identify the author of "The principles of Political Economy and Taxation"

A: To find : Who is author of principle of political economy and taxation.

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

A: Taxation refers to the process by which a government or taxing body imposes or collects a tax from…

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: 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 civic implications of taxation?

A: Taxation refers to the economic factor that is used by the government to generate revenue and use…

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: 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: 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: Where do most city and local taxes come from

A: The local taxes are the most crucial part of local government. Such taxes are then used for distinct…

Q: What are the cannons of taxation by Adam smith ?

A: Adam Smith suggested taxation to finance government activities. He has led down some rules for the…

Q: What is the definition of Property tax

A: Taxes are defined as a tax levied by the government on individuals in the economy in exchange for no…

Q: Which taxation system is best and which is the worst?

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

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: Give a brief example of proportional tax system

A: Depending upon the relationship existing between the rate of structure of taxes and income or wealth…

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: Why is FICA a regressive tax?

A: Regressive tax: It refers to the tax which has to be paid by everyone. This tax changes with the…

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: 1) Name 3 Tax Regimes and define the difference between each. 2) Which regime does Illinois income…

A: Name 3 tax regimes and define the difference between each. Progressive Tax Regime:-  In this…

Q: What is the subject of Corporate Tax? Who has to pay corporate tax? Please provide detailed…

A: Corporate tax is a form of tax that applies to all businesses. It is a tax levied on a company's…

Q: What are the types of income chargeable to tax in Australia?

A: A tax is a required payment or monetary fee imposed by a state on a person or an entity in order to…

Q: What is Proportional Tax?

A: Taxes- proportional, progressive and regressive. Proportional taxes are flat taxes (as %) which are…

Q: What is the difference between a general sales tax and an excise tax?

A: A tax is a mandatory fee collected by the governments from individuals, firms and businesses to…

Q: What is Tax Structure System?

A: Tax structure is identified as the central government, state government along with the working in…