ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
4th Edition
ISBN: 9781285423548
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 3, Problem 3.11PA
To determine
The various sources of the government revenue in the United States, determining the important tax for each level of government and the maximum revenue earning taxes of the government.
Concept Introduction:
Government Revenue: It is the revenue generated by the government from various sources which is utilized for the welfare of the general population.
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Discuss the preferred deterrent method employed by the Zambian government to combat tax evasion, monetary fines. As noted in the reading the potential penalty for corporate tax evasion is a fine of 52.5% of the amount evaded plus interest assessed at 5% annually along with a possibility of jail time. In general, monetary fines as a deterrent are preferred to blacklisting of company directors, revoking business operation licenses, or calling for prison sentences. Do you agree with this preference? Should companies that are guilty of tax evasion face something more severe than a monetary fine? Something less severe? Should the fine and interest amount be set at a different rate? If so at why? Provide support and rationale for your responses.
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Chapter 3 Solutions
ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
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