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Taxation (1)

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Алимжан Разиев
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1 views

Taxation (1)

Uploaded by

Алимжан Разиев
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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A tax is a government levy

on income or expenditure.
There are various reasons why
the government imposes taxes. For example:

• Taxes on salaries and profits raise government revenue


and can be used to redistribute income and wealth in
the economy
• Taxes on goods and services raise the costs of
production and therefore can limit the output of certain
demerit products such as alcohol and tobacco.
• Tariffs imposed on foreign goods and services help to
protect domestic firms from overseas rivals
The tax burden is the
amount of tax that
households and firms
have to pay
Types
of
taxes

Direct Indirec
taxes t taxes
DIRECT TAXES

• Direct taxes - this type of tax is paid from


the income, wealth or profit of individuals
and firms.
• Examples are taxes on salaries,
INDIRECT TAXES

• Indirect taxes - these are taxes imposed on


expenditure on goods and services.
• For example, countries such as Australia and
Singapore use a goods and services tax (GST),
whereas the European union uses value added
tax (VAT ). Other examples are taxes on petrol,
Types of
taxes

Proportio Progressi
Regressiv
nal ve
e taxation
taxation taxation
Progressive taxation
Under this tax system,
those with a higher
ability to pay are
charged a higher rate
of tax. This means that
as the income, wealth
or profit of the taxpayer
rises, a higher rate of
tax is imposed
Regressive taxation

Under this tax system,


those with a higher
ability to pay are
actually charged a
lower rate of tax: that
is, the wealthier the
individual, the lower the
tax paid as a
percentage of income
Proportional taxation

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