Define Taxation What is Income tax What is a value-added tax What is Sales tax What is an excise tax What is a business tax What is corporate tax
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- Define
Taxation - What is Income tax
- What is a value-added tax
- What is Sales tax
- What is an excise tax
- What is a business tax
- What is corporate tax
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- What is taxation and describe the evolution of philippine taxation and how does it affects to the budget of governmentWhich of the following is not an example of excise tax? * A. Transfer tax B. Sales tax C. Real property tax D. Income taxCritically evaluate the impending rise of sales tax planned by the Japanese government and its effect on the demand and eventually public spending
- Suppose you are a typical person in the U.S. economy. You pay 4 percent of yourincome in a state income tax and 15.3 percent of your labor earnings in federal payrolltaxes (employer and employee shares combined). You also pay federal income taxes asin Table 2. How much tax of each type do you pay if you earn $30,000 a year? Taking alltaxes into account, what are your average and marginal tax rates? What happens toyour tax bill and to your average and marginal tax rates if your income rises to$60,000?Which tax is the largest source of tax revenue in the United States? personal income taxes social insurance taxes corporate profit taxes value added taxes national sales taxes18_Which of the following is an example of a direct tax? Check all that apply. A tax placed directly on alcohol to discourage people from drinking A tax placed directly on cigarettes to encourage people to stop smoking Income tax A poll or head tax that charges everyone the same euro amount Which of the following choices represent excise taxes? Check all that apply. A tax of an absolute sum levied on every person or every household The 20% value added tax on a €60,000 Porsche A tax levied on business profits Social Security taxes The 60 pence per-litre unit tax on petrol purchased at a pump in the UK True or false: Any form of an excise tax is a regressive tax. False True
- Assume you are a fresh graduate from UPSA with Public Finance as one of your specializations. You have been employed by the Ministry of Finance in your country. The government of your country is in the process of designing a better tax system in order to maximize revenue for accelerated economic development. a. Your superior has assigned you the task of assisting in designing the new tax system. Discuss what a good tax system would require and explain the specific economic challenges that affect taxation in your country. the 19b s in b. Explain two (2) major reasons why the incidence of taxation should be of paramoụnt importance to the Government. c. Discuss four (4) major recommendations you would offer a neigbouring country that is in the process of introducing VAT in their country. a39. Assuming a $7 per unit tax is imposed, in calculating the realative burdent of the tax does it matter whether the government is collecting the tax directly from sellers or from buyers? YES NO1.) Who bears the burden of property taxes ? Explain the incidence of property tax 2.) Who bears the burden of corporate income tax ? Explain the incidence of corporate income tax.
- A) What type of taxation does a Sole proprietorship have? Single or double B) What type of taxation does a LLC have? Single or double1. Determine burden of the tax under different demand conditions (i.e., when demand is D 1 andwhen demand is D 2 ). Who gets most of the burden of the tax under different demandconditions?2. Prove that the increase (or change) in the price is dependent on the elasticity of demandand supply, under different demand conditions (i.e., when demand is D 1 and when demandis D 2 ).3. What tax revenue is expected by the government if the demand for cigarettes is D 1 ? Is D 2 ?Which of the following is a significant revenue source for state and local governments, but not the federal government in the United States? a.payroll taxes b.corporate taxes c.property taxes d.income taxes
