This document discusses sales tax. It defines sales tax as a tax paid by consumers at the point of purchase of goods or services, usually listed separately on receipts. Sales tax rates are determined by tax authorities and can be included in or added to the price. The document also examines the elasticity of demand and supply in relation to sales tax, noting that the party with the more inelastic curve will bear more of the tax burden.
Training: The Missing Element of Content GovernanceRick Allen
When we think about content governance, we tend to consider roles, responsibilities, workflow, and documentation. But there’s an element to content governance that is equally important and often overlooked: training.
Fundamentally, content governance requires educating everyone involved in the publishing process—including content planning, creation, editing, publishing, and measurement. All this while considering numerous publishing channels and communication goals. To be successful, content relies on a cultural support for governance with active sharing and learning.
Building a content governance culture means we all need to be teachers—and students.
• Learn to assess content governance readiness, including existing expertise and knowledge gaps.
• Find out how to strengthen your content governance plan by making good use of staff resources.
• See how to create a scalable content governance training model.
• Discover how to foster a content culture and empower content contributors to do great work.
Guido van den Belt (Head of Management Services Germany, OutSmart GmbH) presented a case study Building Your ISO 55000 Asset Management Quickly at the Asset Management for Power Utilities Conference in Prague on 23rd February 2016. He focused on the advantages of ISO 55000 for wind energy assets and how to create a world-class asset management system.
Repond to stsudent. This was there answer. I need you to respond to .docxpearlenehodge
Repond to stsudent. This was there answer. I need you to respond to what they have wrote. Respond in 200 words.
1.
The main types of taxes used to fund the public sector include income taxes, payroll taxes, property taxes, sales taxes, and excise taxes. While other taxes exist, these five types of taxes are the most prominent and generate the majority of revenue used to fund the public sector.
The Federal Government raises the majority of its revenue from the combination of income taxes, payroll taxes, and excise taxes. These taxes raised approximately 94.1% of federal tax revenue in 2013 (Miller, 2016, p. 134). Corporate income taxes generate additional cost to the producer which must be passed on to the consumer in order to generate profits. Individual income taxes reduce the amount of capital the consumer has to spend. Payroll taxes are shared equally by both the producer, in this case the employer, and the consumer; however, the real cost is passed on to the consumer in the form of reduced wages (Miller, 2016, p. 135). Finally, excise taxes are levied on the product and must be paid by the producer. Ultimately, the consumer is affected by the higher price and ends up paying a portion of this tax.
State and Local Governments raise their tax revenue, which accounted for 47.4% of total revenue, from sales taxes, property taxes, and income taxes (Miller, 2016, p. 134). Sales taxes affect mainly the consumer. The additional cost is not passed on to the producer. Property taxes are assessed on the value of property owned. The consumer bears the burden of these taxes, and as a result, there are residual effects on producers due to a lower demand for high value items. The impact of income taxes is the same for the producer and consumer as discussed in the preceding paragraph.
2.
The government finds numerous ways to fund governmental operations through taxing at a federal, state and local level. There are many types of taxes excised at each level of government. The most well- known tax is arguably the federal income tax, although most states also collect income tax. Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming do not collect state income tax (Kahn, 2015) In the United States the income tax is progressive, meaning that as the taxpayer earns more money the tax rate raises. In effect, those who make the least money pay the lowest taxes proportionally whereas those earning the most pay the largest amount proportionally. Regressive and proportional taxes are other types of income taxes. A regressive tax has those making the least money paying the highest proportionally and the highest earning paying the least. A proportional tax, also called a flat tax, has all taxpayers paying the same proportion of their income.
The federal government also collects Social Security, or FICA tax, medicare tax, capital gains taxes, and corporate taxes. The tax burden of some of these are spilt between the employee and the employer. .
Respond to student. This was there answer. I need you to respond t.docxronak56
Respond to student. This was there answer. I need you to respond to what they have wrote. Respond in 200 words.
ECON CLASS-JEN
1.
The main types of taxes used to fund the public sector include income taxes, payroll taxes, property taxes, sales taxes, and excise taxes. While other taxes exist, these five types of taxes are the most prominent and generate the majority of revenue used to fund the public sector.
The Federal Government raises the majority of its revenue from the combination of income taxes, payroll taxes, and excise taxes. These taxes raised approximately 94.1% of federal tax revenue in 2013 (Miller, 2016, p. 134). Corporate income taxes generate additional cost to the producer which must be passed on to the consumer in order to generate profits. Individual income taxes reduce the amount of capital the consumer has to spend. Payroll taxes are shared equally by both the producer, in this case the employer, and the consumer; however, the real cost is passed on to the consumer in the form of reduced wages (Miller, 2016, p. 135). Finally, excise taxes are levied on the product and must be paid by the producer. Ultimately, the consumer is affected by the higher price and ends up paying a portion of this tax.
State and Local Governments raise their tax revenue, which accounted for 47.4% of total revenue, from sales taxes, property taxes, and income taxes (Miller, 2016, p. 134). Sales taxes affect mainly the consumer. The additional cost is not passed on to the producer. Property taxes are assessed on the value of property owned. The consumer bears the burden of these taxes, and as a result, there are residual effects on producers due to a lower demand for high value items. The impact of income taxes is the same for the producer and consumer as discussed in the preceding paragraph.
2.
The government finds numerous ways to fund governmental operations through taxing at a federal, state and local level. There are many types of taxes excised at each level of government. The most well- known tax is arguably the federal income tax, although most states also collect income tax. Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming do not collect state income tax (Kahn, 2015) In the United States the income tax is progressive, meaning that as the taxpayer earns more money the tax rate raises. In effect, those who make the least money pay the lowest taxes proportionally whereas those earning the most pay the largest amount proportionally. Regressive and proportional taxes are other types of income taxes. A regressive tax has those making the least money paying the highest proportionally and the highest earning paying the least. A proportional tax, also called a flat tax, has all taxpayers paying the same proportion of their income.
The federal government also collects Social Security, or FICA tax, medicare tax, capital gains taxes, and corporate taxes. The tax burden of some of these are spilt between the employee ...
Is the process by which the sovereign, through its lawmaking body raises revenues used to defray expenses of government.
Means of the government in increasing its revenue under the authority of the law purposely used to promote welfare and protection of its citizenry.
Value Added tax (VAT) – in View of BangladeshIOSRJBM
This paper represents an overview of Value Added Tax (VAT) in Bangladesh. It depicts the basic features of Value Added Tax and its implication, and importance in the growing economy of Bangladesh. Bangladesh faces many problems in raising sufficient tax revenues to fund its economic and social development. To address this problem and to improve economic efficiency and growth, a major tax reform program was initiated in 1991 which centered on the introduction of a value-added tax (VAT) to replace a range of narrowlybased consumption taxes. This study works as a linkage between theory and practice on Value Added Tax. The article represents the social and economical development of the country with the basic awareness which is going at a steady pace among the people and the organization considering it as a key to further economical development. The awareness of Value Added Tax (VAT) is not very old, but still within a short span of time it has shown a remarkable change in the corporate sector and the economy of the country. It has developed a complete sense of care and responsibility towards the country and the welfare of the people.
Introduction to tax accounting accounts next genArpit Umrewal
The principles often used to determine tax financial assets in such a company or person account reports are tax accounting. Instead of using one of the accounting systems, including GAAP or IFRS, tax accounting is based mostly on Internal Revenue Code (IRC). Tax accounting results in a taxable income estimate which differs from the revenue estimate stated on the income statements of an entity. The distinction is since tax laws can speed up or slow down the acknowledgement of such expenditures, which would usually be recognized in an accounting cycle.
what is tax? what is taxation, history, and what is taxation? tax authorities, why tax levied Types of taxation, types of tax, direct tax indirect tax. principles of good tax, Complete ppt on tax, excise duty, sales tax, customs duty, value-added tax, Income tax, wealth tax, gift tax, property tax, conclusion. #tax #direct tax #indirexct tax. #tax authorities# progressive tax #regressive tax #specific duty #incidence of tax #impact of tax.
Essentials of Automations: Optimizing FME Workflows with ParametersSafe Software
Are you looking to streamline your workflows and boost your projects’ efficiency? Do you find yourself searching for ways to add flexibility and control over your FME workflows? If so, you’re in the right place.
Join us for an insightful dive into the world of FME parameters, a critical element in optimizing workflow efficiency. This webinar marks the beginning of our three-part “Essentials of Automation” series. This first webinar is designed to equip you with the knowledge and skills to utilize parameters effectively: enhancing the flexibility, maintainability, and user control of your FME projects.
Here’s what you’ll gain:
- Essentials of FME Parameters: Understand the pivotal role of parameters, including Reader/Writer, Transformer, User, and FME Flow categories. Discover how they are the key to unlocking automation and optimization within your workflows.
- Practical Applications in FME Form: Delve into key user parameter types including choice, connections, and file URLs. Allow users to control how a workflow runs, making your workflows more reusable. Learn to import values and deliver the best user experience for your workflows while enhancing accuracy.
- Optimization Strategies in FME Flow: Explore the creation and strategic deployment of parameters in FME Flow, including the use of deployment and geometry parameters, to maximize workflow efficiency.
- Pro Tips for Success: Gain insights on parameterizing connections and leveraging new features like Conditional Visibility for clarity and simplicity.
We’ll wrap up with a glimpse into future webinars, followed by a Q&A session to address your specific questions surrounding this topic.
Don’t miss this opportunity to elevate your FME expertise and drive your projects to new heights of efficiency.
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
State of ICS and IoT Cyber Threat Landscape Report 2024 previewPrayukth K V
The IoT and OT threat landscape report has been prepared by the Threat Research Team at Sectrio using data from Sectrio, cyber threat intelligence farming facilities spread across over 85 cities around the world. In addition, Sectrio also runs AI-based advanced threat and payload engagement facilities that serve as sinks to attract and engage sophisticated threat actors, and newer malware including new variants and latent threats that are at an earlier stage of development.
The latest edition of the OT/ICS and IoT security Threat Landscape Report 2024 also covers:
State of global ICS asset and network exposure
Sectoral targets and attacks as well as the cost of ransom
Global APT activity, AI usage, actor and tactic profiles, and implications
Rise in volumes of AI-powered cyberattacks
Major cyber events in 2024
Malware and malicious payload trends
Cyberattack types and targets
Vulnerability exploit attempts on CVEs
Attacks on counties – USA
Expansion of bot farms – how, where, and why
In-depth analysis of the cyber threat landscape across North America, South America, Europe, APAC, and the Middle East
Why are attacks on smart factories rising?
Cyber risk predictions
Axis of attacks – Europe
Systemic attacks in the Middle East
Download the full report from here:
https://sectrio.com/resources/ot-threat-landscape-reports/sectrio-releases-ot-ics-and-iot-security-threat-landscape-report-2024/
Neuro-symbolic is not enough, we need neuro-*semantic*Frank van Harmelen
Neuro-symbolic (NeSy) AI is on the rise. However, simply machine learning on just any symbolic structure is not sufficient to really harvest the gains of NeSy. These will only be gained when the symbolic structures have an actual semantics. I give an operational definition of semantics as “predictable inference”.
All of this illustrated with link prediction over knowledge graphs, but the argument is general.
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
DevOps and Testing slides at DASA ConnectKari Kakkonen
My and Rik Marselis slides at 30.5.2024 DASA Connect conference. We discuss about what is testing, then what is agile testing and finally what is Testing in DevOps. Finally we had lovely workshop with the participants trying to find out different ways to think about quality and testing in different parts of the DevOps infinity loop.
Key Trends Shaping the Future of Infrastructure.pdfCheryl Hung
Keynote at DIGIT West Expo, Glasgow on 29 May 2024.
Cheryl Hung, ochery.com
Sr Director, Infrastructure Ecosystem, Arm.
The key trends across hardware, cloud and open-source; exploring how these areas are likely to mature and develop over the short and long-term, and then considering how organisations can position themselves to adapt and thrive.
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024Tobias Schneck
As AI technology is pushing into IT I was wondering myself, as an “infrastructure container kubernetes guy”, how get this fancy AI technology get managed from an infrastructure operational view? Is it possible to apply our lovely cloud native principals as well? What benefit’s both technologies could bring to each other?
Let me take this questions and provide you a short journey through existing deployment models and use cases for AI software. On practical examples, we discuss what cloud/on-premise strategy we may need for applying it to our own infrastructure to get it to work from an enterprise perspective. I want to give an overview about infrastructure requirements and technologies, what could be beneficial or limiting your AI use cases in an enterprise environment. An interactive Demo will give you some insides, what approaches I got already working for real.
Software Delivery At the Speed of AI: Inflectra Invests In AI-Powered QualityInflectra
In this insightful webinar, Inflectra explores how artificial intelligence (AI) is transforming software development and testing. Discover how AI-powered tools are revolutionizing every stage of the software development lifecycle (SDLC), from design and prototyping to testing, deployment, and monitoring.
Learn about:
• The Future of Testing: How AI is shifting testing towards verification, analysis, and higher-level skills, while reducing repetitive tasks.
• Test Automation: How AI-powered test case generation, optimization, and self-healing tests are making testing more efficient and effective.
• Visual Testing: Explore the emerging capabilities of AI in visual testing and how it's set to revolutionize UI verification.
• Inflectra's AI Solutions: See demonstrations of Inflectra's cutting-edge AI tools like the ChatGPT plugin and Azure Open AI platform, designed to streamline your testing process.
Whether you're a developer, tester, or QA professional, this webinar will give you valuable insights into how AI is shaping the future of software delivery.
UiPath Test Automation using UiPath Test Suite series, part 3DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 3. In this session, we will cover desktop automation along with UI automation.
Topics covered:
UI automation Introduction,
UI automation Sample
Desktop automation flow
Pradeep Chinnala, Senior Consultant Automation Developer @WonderBotz and UiPath MVP
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
2. 2
SALES TAX
Introduction
Definition
Tax, is a fee levied by an authority of a particular place, to the inhabitants of that
geographical region. Tax is normally settled in monetary terms, though in some circumstances, it
may be settled in terms of labour, paid labour. It is worth noting that taxes are not paid by
volition of the people or corporations in which it has been imposed, but rather, it is a mandatory
financial burden, such that failure to pay is a criminal offence, punishable by law.
Tax rate
Taxes are usually expressed as a percentage, and this percentage charged is referred to as
the tax rate. This percentage may be charged on the personal income of an individual, the income
of a corporation, goods imported, goods sold to final consumers, manufactured goods, in roads
(toll stations), and in many other forms and places. This rate will vary with varying
administrators of the tax. Two expressions used when talking about tax rate are, the effective
rate, and the marginal rate. The effective rate is the fraction of the total amount of the tax paid, to
the total amount that the tax rate is applied. The marginal rate, is the tax rate that is paid on the
additional one unit of the currency being used, say the dollar.
Purpose of taxation
Governments will impose taxes because of various purposes; to raise money to meet its
budget, to finance wars in which the government is involved in, to try and discourage some
trends or externalities, for example, cigarette tax is imposed to discourage smoking while carbon
tax is imposed to discourage pollution of the environment. Some taxes are imposed to protect
domestic industries from competition, and this practice is most common in less developed and
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developing economies. The money raised from taxation may be used for development projects in
the country, as well as settling of the external debt, also in the funding of the welfare of the
society, and recreational facilities. The purpose of taxation can therefore be classified in four
main categories; revenue, where taxes are imposed to raise money for the government,
redistribution, where the government attempts to transfer wealth from the haves, to the have-
nots, in the society. Reprising, which is done to try and discourage externalities, and
representation, which is historically, more of a bargain between rulers and subjects, where rulers
tax the subjects, and the rulers have in turn, to be accountable to the subjects.
Types of taxes
There are two broad classifications of taxes: tax may be direct, or indirect. Direct taxes
target the individual traits of the tax payer, an example is the income tax. Indirect taxes are
imposed as wholesome and do not target the individual characteristics of the tax payer. The
following are some common kinds of taxes;
Income tax
This is levied on corporations and on the income of individuals. On corporations, it will
be levied on the net profits, gross profits, or other income of the corporation, and is usually
affected by accounting principles. Some corporations however do not pay taxes. On personal
income, income tax is charged on the gross income of the individual, as well as other incomes
the individual may raise. It is paid at the conclusion of the year, or financial year for the case of
corporations. Some individuals may overpay, and thus may be a refunded by the government, at
the end of the year.
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SALES TAX
There are many other taxes imposed on various sources of income for different groups and
corporations; social security contributions, capital gains tax, taxes on property, tax on payroll,
inheritance tax, expatriations tax, transfer tax and wealth tax. There are also taxes on goods and
services, and this include value added tax (VAT ), and sales tax.
Value added tax (VAT )
This is one form of taxes on goods and services. This is imposed on every level of
production, through to distribution to the final consumer, where value is added to the product or
service. An example may be that of a manufacturer who imports raw materials for his business,
he will then pay the value added tax on his purchase price, and give that amount to the
government. He will then convert the raw materials into some product, which he will sell to a
distributor, or a consumer of his product, which may be another manufacturer. This, he will sell
at a higher price, and collect the VAT on that sale. He will, however, remit to the government, an
amount that is only the excess of his cost price, thus, only the amount related to the value added,
before selling his product. This process will continue upto the final retail consumer, who will be
unable to recover his amount of VAT paid.
SALES TAX
Sales tax is a kind of tax that is paid by a consumer of goods, at the point of purchase of
the goods, or service. Sales tax is usually put as a separate line item at the base of the receipt of
purchase that one has made, and is determined by subjecting purchases to a certain percentage,
authorized by the relevant tax authority, or the tax laws of the administering authority, to the
total price of the taxable goods or services purchased by the consumer. The administering
authority may also determine whether the sales tax is included in the price of the commodity or
5. 5
SALES TAX
service, or is calculated separately after the commodity or service has been purchased. The sales
tax will then be collected from the buyer, by the seller, who will then remit the amount to the
relevant tax administration authority. Sales tax is most effectively administered than other forms
of taxes, because it is difficult to evade, it is easily calculated, and it is easy to collect.
Sales tax is thought to have been started as early as 2000BC, if the depictions on the
walls of Egyptian tombs, is anything to be believed. In Greece, sales tax is reported to have been
paid on the sale of 16 slaves, in 415BC. The roman emperor, Augustus, also collected sales tax,
at around 6AD, which was to be used to fund his army. This tax was later abolished by Caliglus.
In the United States of America, the earliest form of tax was in 1791, although it was not a
general sales tax. This was an excise tax, imposed on whiskey. This was so unpopular, and it
thus gave rise to the whiskey rebellion, in 1794. In the 19th century, the United States enacted
excise taxes on so many commodities that it appeared as though it was charging sales tax. In
1930, Kentucky and Mississippi enacted the first general sales taxes, and soon after, many other
states followed suit. Most recently, the health care Act of 2010 selectively imposed a 10% sales
tax on indoor tanning services.
SALES TAX AND ELASTICITY OF DEMAND AND SUPPLY
Elasticity is the amount by which quantity demanded, responds to changes in the factors
affecting. The most common looked at factors in this regard are; price, closely related goods, and
income. Elasticity of demand, is therefore the amount by which quantity demanded, reacts to a
change in price of the commodity. Elasticity of supply on the other hand, is the amount by which
quantity supplied, responds to the change in the price of the commodity. The effect of a sales tax
(one that is included in the selling price), will be to raise the price of a commodity or service.
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SALES TAX
Given that sales tax is imposed selectively, consumers may switch to other goods, and therefore
making the sales tax ineffective in raising revenue for the administering authority. The same may
apply on the part of producers. The term used to describe how the tax burden is shared between
market participants, is tax incidence. The market participant who has the most inelastic curve,
will bear the most burden.
Example
From the graph, the original equilibrium is at point A. The imposition of tax, say of $1 causes the
supply curve to shift to the left, thus reducing the supply. The new equilibrium is at point B,
where the price is $ 2.60, and the quantity is lower than the quantity at the initial equilibrium
(without tax). The supplier thus receives $1.60. This means that he pays a tax of $40 cents, and
the consumers bear the rest, $60 cents. Triangle ABC represents the dead weight loss as a result
of imposition of the tax. The formula used to calculate the tax burden that is borne by either the
supplier or the consumer, is called the pass-through fraction, which for consumers is calculated
as follows:
7. 7
SALES TAX
Pass-through fraction for consumers =
For suppliers, Pass-through fraction =
Where: PES- price elasticity of supply
PED- Price elasticity of demand.
This fraction will give the percentage of the imposed tax, which either party will bear. If the
demand curve is elastic relative to the supply curve, then the supplier will bear a large percentage
of the imposed tax, and vice versa.
Sales tax in Canada
Canada applies three types of sales tax. There is the provincial sales tax (PST), which is levied
by the different provinces, the goods and services tax (GST), which is levied by the federal
government, and the harmonized sales tax (HST), which is a combined and blended tax of the
PST and GST, that is used in several provinces in Canada. A combination of these taxes may be
applied in one province, for example, GST and PST, or only one tax, for example, HST. The
goods to which the taxes are imposed on, also vary with the different provinces, and also the tax
rates applied also vary.
Products subjected to sales tax in Canada
Sales tax is imposed on many products in Canada. Some products are, however, zero rated, or tax
exempt. Products such as groceries and milk, are zero rated, while services such as child day care
services (for less than 24 hours) are exempt. Three examples of taxable products in Canada are;
soft drinks, clothing and footwear, and potato chips.
8. 8
SALES TAX
Soft drinks
When sales tax is imposed on all soft drinks, the consumers will bear the most burden of
the tax. Milk is a zero rated product, yet studies still show that the demand for soft drinks is
inelastic. The demand curve for soft drinks is more inelastic relative to its supply curve, and
therefore, through the pass-through fraction, consumers will bear the most burden of the tax.
Clothes and footwear
There is no substitute for clothes and footwear, for Canadians. The demand curve for
clothes and footwear is almost perfectly inelastic. If a tax is imposed, producers will simply pass
the bulk of this tax to consumers, by raising the prices.
Potato chips
If a sales tax is imposed on potato chips, the suppliers will bear the most burden of the
tax imposed. Potato chips has so many substitutes in the snack industry, if a tax was imposed on
potato chips, consumers will shift from consuming potato chips, and move to other snacks, for
example, corn chips.
Conclusion
Sales tax is regarded as the most effective form of taxation, as it is easy to administer,
and calculate. Some, however, say that sales tax has a regressive effect on sales. But this will
clearly depend on the elasticity of the affected commodity.
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SALES TAX
References
Business Development Centre. What Is GST/ HST TAX? Retrieved from http://www.gst-
tax.com/GST/About_GST_Tax.htm
Canada Revenue Agency, (2011). Exempt goods and services. Retrieved from http://www.cra-
arc.gc.ca/tx/bsnss/tpcs/gst-tps/gnrl/txbl/xmptgds-eng.html
Euromonitor International, (2009). Clothing and Footwear- Canada (PDF document). Retrieved
from
http://www.ryerson.ca/~rmichon/mkt731/reading/Industry%20Reports/Clothing%20and
%20Footwear.pdf
Frank, H. R. and Bernanke, B. S. (2001). PRINCIPLES OF MICRO-ECONOMICS. London,
McGraw-Hill
HIGHBEAM BUSINESS (2012). Potato chips, corn chips and other snacks. Retrieved from
http://business.highbeam.com/industry-reports/food/potato-chips-corn-chips-similar-
snacks
INVESTOPEDIA, (2012). CFA Level 1- Microeconomics: Effect of Taxes on Supply and
Demand. Retrieved from http://www.investopedia.com/exam-guide/cfa-level-
1/microeconomics/tax-effects.asp#axzz1nwoFlySS
Jay Kaplan, (2002). Elasticity. Retrieved from
http://spot.colorado.edu/~kaplan/econ2010/section4/section4-main.html
Koutsoyiannis, A. (1979). Modern Microeconomics. London, The Macmillan Press Ltd.