Describe the various types of taxes that the body is entrusted to collect.   Please give explanation in details with example

Q: Certain items, such as gasoline, air travel, hunting equipment, cigarettes, and telecommunications…

A: Tax is the fixed rate of the amount that is charged by the government on a product from the…

Q: The tax on cigarettes in New York City is one of the highest in the nation—$5.85 per pack. What are…

A: Tax is a mandatory unilateral or one way payment made by the public towards the government in the…

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: Explain three different types of taxes imposed in the United States including the reason for its…

A: Following are the three types of tax imposed in the United States: Progressive Regressive…

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: Explain briefly the three main purposes in exercising taxation power.

A: Taxation is defined as the power of accumulation of revenue and raiserevenue from the people to…

Q: Critically examine the principles of taxation and point out the difficulties in their practical…

A: Taxation is an important part of government revenue. Without taxes it is not possible for a…

Q: In the diagram to the right, illustrating a per-unit tax equal to P, minus P3, tax and the excess…

A: From the graph, we can say  Q1 and P1 is the equilibrium quantity and price when there is no tax.…

Q: Is it possible to be used partly for public purpose and partly private purpose without violating the…

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

Q: In a modern, industrial society, the tax system is derived from several disciplines. Identify the…

A: In the complex web of modern industrial societies like the United States, the tax system is…

Q: Give a brief conclusion about taxation in Malaysia

A: Malaysia has progressive direct tax system.People with higher income are taxed higher and people…

Q: From an international perspective, examine the taxation principles of an individual’s personal tax.

A: Capacity to pay:- The capacity-to-pay concept holds that taxes should be based on a person's ability…

Q: An example of direct taxes are property taxes. True False

A: Property taxes are a type of direct tax. Direct taxes are taxes that are levied on individuals or…

Q: Which tax is the largest source of tax revenue in the United States? personal income taxes…

A: The largest source of the tax revenue of the United States government has individual tax been since…

Q: In the diagram to the right, illustrating a per-unit tax equal to P₂ minus P3, tax revenue is…

A: Equilibrium occurs when the demand curve meets the supply curve.The equilibrium quantity is Q1.The…

Q: Explain the types of tax liability in the Turkish Tax System by giving examples

A: The Turkish tax system is a vital component of the economy, and it is divided into three major…

Q: Why is taxation considered as the strongest among the three inherent powers of the State?

A: The government has three powers, which are functioned by only government authorities. They are…

Q: Question 2: Imposing a single-stage tax Assume that there are 1000 importers and manufacturers,…

A: The tax collection framework enables the state legislatures to exact personal assessment on rural…

Q: Which of the following descriptions of government revenue is correct? Check all that apply.…

A: The term "government revenue" describes the sums of money that the government receives from a…

Q: Differentiate between “direct taxation” and “indirect taxatio

A: Taxation can be defined as the process of imposing charges or levies by the government on…

Q: how many packs of cards were sold?

A: Tax is an amount that is laid by the government and is a source of revenue for the government.It is…

Q: The efficiency loss of imposing an excise tax is due to: a. Paying a higher price per unit. b.…

A: The efficiency loss occurs due to the over production or underproduction. On the other hand, an…

Q: Do a comparative analysis of taxation in Kenya, Uganda and Tanzania showing how these countries have…

A: Tax is a nеcеssary paymеnt that is madе to thе govеrnmеnt for thе consumption of goods and sеrvicеs…

Q: In the diagram to the right, illustrating a per-unit tax equal to P, minus Pa, tax revenue is…

A: Tax revenue = D and F Excess burden = E and G

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…