Which taxation system is best and which is the worst?

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 is Double Taxation?

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

Q: How does a government agency raise revenue differently from a private company, and how does that…

A: The private sector is the portion of the society which is driven by gain through people and…

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: 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: Your Finance Minister considers making a tax reform. He asks you, as a senior tax administrator, to…

A: There are five basic requirements that must be satisfied by a good tax system : Fairness Adequacy…

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 areas of government spending impact a business? How do these areas impact the business?

A: Government spending is otherwise called public spending and in Britain, it takes up more than 45% of…

Q: How can the government improve tax collections without imposing much tax to the consumer?

A: When a taxing body, typically a government, levies or imposes a financial responsibility on its…

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: What is merits and demerits of direct tax?

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

Q: Do tax deductions and tax create incentives for taxpayers?

A: A gift offered to those in order to motivate him to perform something specific is known as an…

Q: What is the nature of Taxation?

A: Government and private sector balance the functioning of economy. With public and private sector,…

Q: Do you think we should use taxation as a redistribution tool in a country?

A: Inequality has increased in both developing and developed nations. In my opinion, taxation as a…

Q: What would happen if Texas collects less taxes and generates less revenue?

A: In an economy, it can be seen that the taxes are the major part or component of government revenue.

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: Give an example for the Average Tax Rates?

A: Average tax rate is the tax paid as a percentage of total income. The average tax rate can be…

Q: Write a paragraph that explains how the U.S. tax system has become less progressive since the 1950s.

A: In the last 50 years, the federal tax system of the US has undergone 3 main and powerful changes.…

Q: What are the four major types of taxes in India?

A: There are four major types of taxes in India.

Q: Can democracy survive if a majority of the citizenry pay little or nothing in taxes while benefiting…

A: The primary source of money for a government's budget is taxation. That money goes toward a variety…

Q: Why is it important to know how Federalism and how the federalist part of government works?

A: According to the Classical Economists, the economy should adopt the policy of lassiez fraier or…

Q: On what basis are taxes levied?

A: On the basis of levying of taxes, they can be classified into 3 categories:   Proportional Tax:…

Q: How important is tax in a government?

A: A tax refers to a compulsory financial fee or some other type of levy imposed on a taxpayer by a…

Q: What are the fundamental principles of taxation?

A: Taxation means levying or imposition of particular amount of tax on individuals by the government in…

Q: If taxes are a cost of doing business and are built into the price of goods and sevices, who…

A: Incidence of tax The incidence of tax refers to the extent to which the consumer or producer…

Q: Do tax deductions and tax credits create incentives for taxpayers?

A: Tax deduction refers to the high help in lowering the taxable income of most of the taxpayers. The…

Q: Why do you think we should use taxation as a redistribution tool in a country?

A: There is obviously a strong case for shifting resources from those at the top of the income scale to…

Q: What are the characteristics of Taxation

A: Taxes are levied in almost every country in the world. It is levied to raise revenue for the…

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: What determines whether the buyer or seller pays the bulk of the tax?

A: The incidence of tax depends on the relative price elasticity of demand and supply.

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 proportional tax? Write its merits and demerits.

A: Introduction - An income tax system known as a proportionate tax applies the same percentage of tax…

Q: do taxes generate the revenue?

A: Revenue: It refers to the extra benefits that a business can earn. These extra benefits will help…

Q: Why do legislators vote for spending projects in districts that are not their own?

A: The practice of legislator slipping funded for a local project within a budget is referred to as…

Q: What is Proportional Tax?

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

Q: What are some of the problems associated with working out whether a tax system is equitable?

A: Meaning of Progressive Tax: The term progressive tax refers to the situation under which the tax…

Q: What are the different areas of government spending? How do each of the different areas impact a…

A: Areas of government spending refer to the different sectors where government incurs expenditure…

Q: Outline the budgetary process and explain the role that politics plays.

A: The budget is defined as the estimation of expenses and revenue over a specified future period of…

Q: tax policies that'll be beneficial for everyone

A: Tax policies are the choices made by the government of a particular country as to what taxes are to…

Q: then tax revenue for the

A: Due to tax imposed , govt moved the market from market equilibrium to social optimum  That is at…

Q: What is Tax Structure System?

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