Differentiate “normal tax “ from “final tax”.

Q: Define Effective tax rate.

A: Tax: Tax refers to a compulsory payment or a contribution to the state revenue, levied by the…

Q: Define tax effect theory

A: Tax effect theory explains the impact of taxes on revenue or expense of a company. This theory is…

Q: What distinguishes an income tax from other taxes?

A: A tax is a governmental entity's required financial charge or other kind of levy put on a taxpayer…

Q: Define Deferred tax asset.

A: Items on a company's balance sheet that may be used to reduce taxable income in the future are…

Q: flat tax income tax property tax

A: A progressive tax is one in which the average tax burden grows in proportion to income.…

Q: what are the characteristics of a good tax system?

A: Tax system is designed by the government of every country which is imposed on the individual’s…

Q: What is the difference between tax reliefs and tax credits?

A: Taxes are mandatory payments placed on individuals or businesses by a government agency, whether…

Q: Distinguish the difference between Tax Structure and Tax Rates

A: Meaning of Tax Tax is a source of revenue to the Government. Different types of taxes are paid by…

Q: Tax as a source is classified as?

A: Solution Concept Tax is the major source of revenue oto the government of any nation There can…

Q: Explain intraperiod tax allocation.

A: Income tax allocation is an integral part of generally accepted accounting principles. Income tax…

Q: What are the different type of income tax?

A: The answer for the question on the different types of income tax is discussed hereunder : Taxes are…

Q: What are the advantages of an indirect tax such as the VAT compared with an income tax?

A: The objective of this question is to understand the advantages of an indirect tax, specifically…

Q: Distinguish between marginal and average tax rates

A: The tax rate at the margin: Through the use of the marginal tax rate, the federal taxation system…

Q: Explain the difference between direct and indirect tax

A: Introduction: Tax refers to an individual's simple duty to contribute their resources. It is imposed…

Q: Explain the difference between tax reliefs and tax credits

A: Taxes are mandatory payments placed on individuals or businesses by a government agency, whether…

Q: May an exaction be both a tax and regulatory fee

A: First of all we need to understand that Tax and Regulatory fees both are independent and can not…

Q: What is the difference between a progressive tax, a proportional tax, and a regressive tax?

A: Tax is an important concept in the area of finance. The United states has three types of taxes…

Q: Discuss how a sales tax is regressive.

A: 1. Regressive Tax - Regressive Tax is a tax on the amount which decreases subject to the amount…

Q: What are the features of final income tax?

A: Introduction:- Final tax is one of the exemptions to the extent of the regular income tax. An…

Q: final tax and income tax

A: Tax is a form of compulsory payment made to the government of the country. The amount that is…

Q: 1. ntiate between a property tax and transfer tax.

A: please like the answer your response matters  MEANING OF TAX:-It refers to the amount paid to the…

Q: Is fringe tax considered a penalty tax?

A: A fringe benefit is a final tax on an employee's salary that the company is required to withhold.…

Q: Explain the tax phrase “exclusion from gross income.

A: Tax is a compulsory payment to the revenue authorities of a government of a country. Taxes are used…

Q: A. Interest income of a resident alien from an B. Marriage fees, baptismal offerings received by a…

A: b. c and d are exempt from final tax

Q: Define intraperiod tax allocation. Why is the process necessary?

A: Intra-period tax allocation:   It is the allocation of an organization’s total income tax expense…

Q: What is an excise tax and its examples?

A: The company's aim will be to increase the profitability of the company. The profits can be arrived…

Q: What type of tax is sales tax

A: There are two types of tax. These are: Direct tax: Direct taxes are the taxes that are paid by the…

Q: Explain the concept of situs of taxation? Give examples

A: Governments in practically every country throughout the world levy forced charges on persons or…

Q: What is deferred income tax expense?

A: Tax: Tax refers to a compulsory payment or a contribution to the state revenue, levied by the…

Q: between refundable tax credits and non-refundable tax credits and which is more valuable

A: The amount of money that is allowed to be reduced from overall tax liability of taxpayer is known as…