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Indirect taxes are paid by one person but the burden is shared partly or wholly by another person, such as sales tax and excise duty. Some merits of indirect taxes are that they are convenient to collect, revenue adjusts to economic activity so they are elastic, and they promote social welfare. However, some demerits are that indirect taxes can be regressive in nature, create uncertainty, discourage savings, be uneconomical, inequitable, and have no direct link to the government.
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The Moral and Economic Necessity of Tax Reform
Bill Beach, director of The Heritage Foundations' Center for Data Analysis, argues that a flat income tax or a consumption tax would resolve the unfairness and economic distortion of the current tax code. He delivered this presentation on October 22, 2009 at a meeting sponsored by the Naples Committee for Heritage.
Fiscal Policy
This document discusses different levels of government spending and taxation in the United States. It begins by defining Gross Domestic Product (GDP) as the total value of goods and services produced in the country, and how 34% of all government spending goes towards GDP. It also defines Gross State Product (GSP) and Gross Regional Product (GRP) as measures of individual state and regional economies. The document then examines various types of taxes used by national, state, and local governments, including income, sales, property, corporate and excise taxes. It concludes by outlining five principles for evaluating different tax systems: equity, yield, elasticity, political accountability, and acceptability.
Ec102 may 10
This document provides an introduction to taxation. It discusses different forms of taxation including direct taxes like income tax and transfer tax, as well as indirect taxes like sales tax. It covers topics such as the desirable characteristics of a tax system including efficiency, simplicity and fairness. The document also discusses how governments use tax revenue, examples of economic efficiencies and inefficiencies of different taxes, and definitions of concepts like horizontal and vertical equity.
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The document discusses various topics related to taxes including notable quotes about taxes, the origins of the federal income tax in the US, different types of taxes, arguments about the burden of taxes and how tax rates have changed over time. It provides statistics showing that reducing tax rates in the past under certain presidents led to increased tax revenues and that the top income earners pay the majority of taxes in the US.
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The Moral and Economic Necessity of Tax Reform
Bill Beach, director of The Heritage Foundations' Center for Data Analysis, argues that a flat income tax or a consumption tax would resolve the unfairness and economic distortion of the current tax code. He delivered this presentation on October 22, 2009 at a meeting sponsored by the Naples Committee for Heritage.
Fiscal Policy
This document discusses different levels of government spending and taxation in the United States. It begins by defining Gross Domestic Product (GDP) as the total value of goods and services produced in the country, and how 34% of all government spending goes towards GDP. It also defines Gross State Product (GSP) and Gross Regional Product (GRP) as measures of individual state and regional economies. The document then examines various types of taxes used by national, state, and local governments, including income, sales, property, corporate and excise taxes. It concludes by outlining five principles for evaluating different tax systems: equity, yield, elasticity, political accountability, and acceptability.
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Income tax basics
Today's political environment has confused many Americans about the income tax system. Understand what our tax system is designed to do and what are some of the alternatives that have been proposed.
Ron Baker History of Taxation
Ron shared with us his thought on the origins of taxation, the enlightenment thinkers on taxaxtion and as a CPA, the alternatives to the current tax system in the United States.
Ron acknowledged that many insights he shared were found in Charles Adams great book, For Good and Evil: The Impact of Taxes on the Course of Civilization.
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The document discusses various topics related to taxes including notable quotes about taxes, the origins of the federal income tax in the US, different types of taxes, arguments about the burden of taxes and how tax rates have changed over time. It provides statistics showing that reducing tax rates in the past under certain presidents led to increased tax revenues and that the top income earners pay the majority of taxes in the US.
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Governments redistribute wealth through social programs and progressive taxation. They do so to create a safety net and alleviate poverty. Redistribution can be direct through social services or indirect through a progressive tax system where higher incomes face higher tax rates as a percentage of their income. Regressive taxes take a higher percentage from lower incomes, while proportional taxes apply the same rate to all incomes.
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The document discusses how governments redistribute income through social programs and progressive taxation. Governments intervene in markets to create a safety net and alleviate poverty by redistributing income directly through social programs or indirectly through progressive tax rates that impose higher tax burdens on higher incomes. Regressive taxes like sales taxes take a higher percentage from lower incomes since they spend a greater portion of income on taxable items compared to higher incomes that save and invest more.
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1) Michigan ranks low (29th and 48th) in measures of tax fairness, with lower-income families and businesses contributing a larger share of taxes compared to other states.
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Copy of salini
Taxation is the biggest source of public revenue for modern governments. The equity principle of taxation refers to fairness and justice in distributing the tax burden. Horizontal equity means people who are equally well-off economically should pay equal taxes, while vertical equity means those who are better off should pay more taxes than others.
Amal tax
The document discusses absolute and relative taxable capacity. Absolute taxable capacity refers to the maximum amount of taxes that can be collected from individuals in a country without affecting production. Relative taxable capacity is the proportion in which communities can contribute taxes relative to other communities' capacities to contribute to common expenditures.
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Stress and black money dr. shriniwas kashalikar
Thus; there is golden opportunity for us; to urgently and victoriously practice, teach, preach, sponsor and do whatever we can; to promote consolidation, and implementation of holistic perspective, policies, plans and programs; and conquer the dark rule of pettiness, superficiality, individualism, selfishness, corruption, crimes and the darkest money; outside and inside!
8d governments redistribute wealth
Governments redistribute wealth through social programs and progressive taxation. They do so to create a safety net and alleviate poverty. Redistribution can be direct through social services or indirect through a progressive tax system where higher incomes face higher tax rates as a percentage of their income. Regressive taxes take a higher percentage from lower incomes, while proportional taxes apply the same rate to all incomes.
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The document discusses how governments redistribute income through social programs and progressive taxation. Governments intervene in markets to create a safety net and alleviate poverty by redistributing income directly through social programs or indirectly through progressive tax rates that impose higher tax burdens on higher incomes. Regressive taxes like sales taxes take a higher percentage from lower incomes since they spend a greater portion of income on taxable items compared to higher incomes that save and invest more.
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The document discusses Massachusetts state budget shortfalls and potential options to close a $5.4 billion gap. It notes that 73% of state spending goes to education, local aid, healthcare, and human services. Even eliminating all state human services agencies or education spending would not close the full gap. Potential revenue generators discussed include closing tax loopholes, increasing various taxes by 1% including the corporate tax, gas tax, meals and hotel taxes, and income and sales taxes. Raising property taxes is also mentioned but impacts would depend on location.
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Even staunch Republicans were shocked recently when ProPublica published secret IRS files showing that the richest Americans routinely pay a small fraction of their income in income taxes and in some years pay no taxes at all. Our concern is how efforts to regulate tax rates for the ultra rich will affect taxes on the average American taxpayer.
https://youtu.be/1ooTRnwiF2A
Outline of The Price of Inequality
Stiglitz believes that greater inequality leads to less economic growth and that politics and policies have contributed to rising inequality in the U.S. He argues that taxation policies disproportionately benefit the wealthy through lower tax rates on capital gains and that financial sector subsidies have misallocated resources. Stiglitz also asserts that democracy is in peril due to corporate influence in politics and that changes are needed to address inequality, including more progressive taxation and increased government investment.
Measure 84: Two New Tax Breaks for the Richest 2% Among Us
Measure 84 proposes eliminating Oregon's estate tax and prohibiting all taxes on transfers of property between family members. If passed, it would provide substantial tax benefits primarily to the wealthiest 2% of Oregonians by allowing them to avoid capital gains taxes when transferring or inheriting high-value assets like stocks, homes and businesses. However, it would result in significant lost tax revenue for Oregon that would need to be made up elsewhere. The document recommends voting no on Measure 84 to avoid giving additional unnecessary tax breaks to the richest residents at the expense of funding for schools, roads and other state services.
Sabitha.
The document outlines the characteristics of an ideal tax system. An ideal system should:
1) Observe the fundamental principles or canons of taxation, such as being equitable, convenient, certain, and economical.
2) Be based on the ability-to-pay principle where taxes are allocated according to least sacrifice.
3) Ensure maximum social advantage by having a combination of different tax types, not just one tax.
4) Maintain a balanced mix of various tax types.
5) Apply universally to all individuals without discrimination.
Intrafamily abuse
Intrafamily abuse occurs within families and includes physical, psychological, sexual, and emotional abuse between couples, parents and children, or other family members. It is caused by issues like lack of control, impulses, inability to solve problems, and substance abuse. The document discusses the types of intrafamily abuse, Dominican law against it, the need for authorities to enforce the law strongly, and how abuse can be reproduced and even lead to death. Intrafamily abuse affects all social classes and stopping it is an important societal responsibility.
Tony jordan on the toll hike
The New York Thruway Authority has been cancelling and rescheduling meetings to approve a proposed 45% toll increase on trucks without public notice, highlighting the need for reform. Assemblyman Tony Jordan introduced a bill that would require legislative approval for regulatory agency decisions with fiscal impacts over $5 million statewide to increase transparency and accountability of public authorities like the Thruway Authority. The toll hike would hurt businesses and families by increasing costs of consumer goods.
Tax Justice Election Slide share
The document calls for tax justice reforms to help address economic issues caused by the financial crisis and raise funds to support public services and fight poverty. Specifically, it calls on politicians to support a small tax on banks, ensure multinational companies pay all taxes owed in countries where they operate, and increase transparency in company financial reporting. Achieving these tax justice goals could generate billions to help economies and reduce poverty worldwide. The election presents an opportunity to pressure candidates to address these issues.
Townsend 2015 Intro Tax NL
1) Michigan ranks low (29th and 48th) in measures of tax fairness, with lower-income families and businesses contributing a larger share of taxes compared to other states.
2) Since 1999, Michigan's median household income has fallen $15,633 (24%) after adjusting for inflation, and recent tax reforms have shifted the burden further onto working families and retirees.
3) The document proposes a graduated income tax to make the system more equal by cutting taxes for those earning under $165,000 and raising taxes slightly on the top 1% to fund infrastructure, education, and community services.
Sustainable economics without fossil fuels, a thriving postgrowth economy
Changing from income and sales tax to land and resources tax is a challenge. At the same time we need to reform the money system. This presentation presents a possible method of doing the two together without shocking the economy. We also now have a method for introducing a Citizens Dividend and for reforming the way local authorities are funded. We remove the growth imperative thereby setting in place the possibility of reversing climate change. We are proposing a post growth economic system where investment is naturally channelled into enterprises with a low carbon footprint.
The Origin and Function of Ad Valorem Taxes Research Paper
Property taxes have existed for thousands of years and provide funding for important government services like schools and fire departments. While nobody likes paying taxes, they are an important part of any society. In the US, property taxes are based on the assessed value of a home, with rates set by a millage that varies by county. However, assessments are sometimes inaccurate, so homeowners can appeal to get their assessed value and subsequent taxes lowered by providing comparisons to similar homes in the area. Appealing assessments helps ensure fairness and protects homeowners from unjustly high taxes.
Checklist for Congress: Page 3
Heritage Foundation has issued a set of five simple actions Congress must take in order to meet the electoral mandate of the American people. These five priorities represent the bare minimum of what is expected of our new representatives.
Us tax code
The document discusses several topics related to government spending and taxation. It argues that the tax code should be neutral and not used to incentivize private capital. It also suggests studying a consumption tax instead of an income tax. To balance the budget, both spending cuts and revenue increases are needed, with most new revenue coming from economic growth rather than tax hikes. Spending cannot be based solely on needs since needs always exceed resources, requiring difficult choices. The government should focus on maintaining order and justice, leaving charity to individuals, though some programs help prevent societal chaos.
Sports sponsorship and government regulation
This document discusses the issue of sports sponsorship by gambling companies in Australia. It notes that while gambling sponsorship provides significant funding for sports, it also raises concerns about promoting addiction and sending mixed messages. The government faces challenges in regulating this area, as gambling laws are inconsistent between states and territories. The document argues that tighter restrictions are needed but will not alone solve addiction, and that education programs can be highly effective treatments. It concludes by emphasizing the need to balance funding sports with addressing the legitimate problems of gambling sponsorship.
Fairness and The Debt Crisis
The document argues that the current federal budget deficit and debt levels are unfairly blamed on ordinary Americans, who did not cause the issues. It claims the true causes were decades of bad economic policies, including unjustified wars, outsourcing of jobs, tax cuts for the wealthy, financial deregulation, and stagnating middle-class incomes. Resolving the debt crisis requires addressing the underlying economic crisis first through solutions that help, not penalize, average Americans, rather than continuing policies advocated by those responsible for the problems. Fair debt policy should not scapegoat citizens for issues they did not create.
The Politics of Poverty
Talk by Dr Simon Duffy for Citizen Advice Derbyshire Districts, June 7th 2017. He explores the reality poverty is mitigated and created by the political system and particularly examines tax-benefit changes between 1997 and 2014.
Convertibility of Black money to white
Black money refers to funds earned on the books but unreported to avoid taxes. It exists due to factors like high taxes, corruption, and perceptions of government. Black money has grown significantly in India, estimated at 25-50% of GDP in developing countries. While some argue black money improves well-being and entrepreneurship, it undermines the tax system, economic forecasts, and public confidence. Past tax amnesty programs in India have had varying success in generating tax revenue from unreported funds. Moving forward, policies aim to curb black money through increased audits, incentives for legal transactions, and simplified tax compliance.
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Taxation is the biggest source of public revenue for modern governments. The equity principle of taxation refers to fairness and justice in distributing the tax burden. Horizontal equity means people who are equally well-off economically should pay equal taxes, while vertical equity means those who are better off should pay more taxes than others.
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The document provides an overview of taxation systems in India. It discusses the history of taxation in India, noting a large taxable population existed. It also outlines the current tax system, including direct taxes like corporate, capital gains, and personal income tax levied by the central government. Indirect taxes levied by the central government include excise duty, customs duty, service tax, and sales tax. State governments and local bodies also levy certain taxes.
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Several factors determine a nation's taxable capacity including the size of national income, population size and growth rate, distribution of income and wealth, administrative efficiency, stability and growth of income, purpose and pattern of taxation, economic situations, standard of living, price levels, and political conditions.
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Taxation is the biggest source of public revenue for modern governments. The equity principle of taxation refers to fairness and justice in distributing the tax burden. Equity has two aspects: horizontal equity means persons equally well-off economically should pay equal taxes, while vertical equity means those better off should pay more taxes than others.
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After independence in 1947, India's tax system underwent major reforms to mobilize resources for development activities. In 1953, the Taxation Enquiry Commission studied India's central and state indirect taxes and found high levels of tax evasion. In the 1950s, following recommendations from economist Nicholas Kaldor, India introduced an integrated direct tax system along with new taxes like wealth tax and expenditure tax. Recent tax reforms focused on simplification and rationalization through committees and task forces. The 2006-2007 budget aimed to introduce a unified Goods and Services Tax by 2010.
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Några grundläggande tips på vilka nyheter som tilltalar journalister och hur organisationer kan skapa nyheter på ett enkelt sätt.
Sudheesh tax
This document discusses the impact and incidents of taxation. It notes that the tax incidence is highest for residents and lower for non-residents. It outlines the total income scope for residents as including income received or deemed received in India, as well as income accruing or arising outside India during the previous year. The scope for non-residents includes income received in India and income deemed received or accruing in India.
Nandu
India has low tax rates due to several factors including a large non-monetized sector, lack of administrative efficiency in tax collection, unstable political conditions, psychology of taxpayers who do not want to pay taxes, and a lower volume of international trade compared to other countries. Unemployment, lack of quality education, and standard of living also contribute to India's low tax rates.
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Suresh tax
The document discusses four canons of taxation: productivity, elasticity, expediency, and coordination. The canon of productivity states that taxes should not interfere with production and maximize income. The canon of elasticity means taxes should be flexible. The canon of expediency refers to considering sound principles like people's views when designing the tax system. The canon of coordination notes that tax collection is difficult, so central and state governments coordinate agencies to collect taxes.
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This document discusses the merits and demerits of indirect taxes. Indirect taxes are imposed on one person but paid by another, usually the consumer. The merits of indirect taxes include convenience of collection, elasticity to respond to economic changes, equity, promotion of social welfare, and progressiveness. However, the demerits are that indirect taxes can be regressive in nature, create uncertainty, discourage saving, be uneconomical, inequitable, and have no direct link to the government collecting the taxes.
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Anshad
The document outlines the main sources of public revenue for governments. The key sources are taxes, fees, prices for goods and services, special assessments, fines and penalties, gifts, and borrowings. Public revenue is necessary for governments to fund public expenditures and perform important functions for societal welfare.
Thadeus
The document defines various historical units of measurement used on farms in medieval England. The rod was a unit of length equal to 5 1/2 yards, the furlong was the distance an ox team could plow before resting standardized to 40 rods, and the acre was the amount of land one man could plow in a day with an ox. Larger units included the ox gang which was around 15 acres plowed in a season, the virgate plowed by two oxen, and the carucate plowed by eight oxen which was equal to 8 ox gangs or 4 virgates.
Joby
British rule in India imposed various taxes on the traditional agricultural economy including import duties, customs duties, and export duties. The Sea Customs Act of 1878 and the Tariff Act of 1934 further established taxation policies during this time. Overall, British rule saw the imposition of new taxes on India's economy and trade.
Greeshma direct tax
Direct taxes are taxes imposed directly on individuals and corporations. In India, direct taxes are managed by the Central Board of Direct Tax. Examples of direct taxes include income tax, capital gains tax, and corporate tax. Direct taxes have merits like being easy to collect directly from the source and promoting personal responsibility, but they also have demerits like being unpopular due to reducing purchasing power and being easier to evade than indirect taxes.
Vidhya tax
A tax is a compulsory payment made by taxpayers to the government without expectation of direct benefits. A good tax system is compulsory, has multiple dimensions like rates and collection methods, is convenient to administer, considers taxpayer attitudes, and changes gradually over time in response to economic shifts. It should also support national goals, generate sufficient revenue, and remain flexible.
Divya taxation during mugal period
Taxes during the Mughal period were collected primarily as land revenue, which was the most important source of income for Mughal rulers. The tax system is documented in contemporary court chronicles like Ain-i-Akbari. Rates of the zazia tax, imposed on non-Muslims, varied based on annual income levels from exempted for those earning less than 52 rupees to 480 dirhams (13 rupees) for those earning over 2,500 rupees annually. The discriminatory tax policies based on religion implemented by some later Mughal rulers contributed to the decline of the Mughal Empire after Aurangzeb's death in 1707.
Aswathy.c.s
Jizya was a poll tax charged to non-Muslims in Islamic states, with exemptions for those engaged in military service, women, children, monks, beggars, blind and crippled. The Hindu population was divided into three groups for taxation purposes, with zakat being a fortieth on imports and later abolished on gains by Sikander Lodi, who distributed booty with one-fifth going to the state and the rest to soldiers.
Arya
A single tax system levies taxes on only one subject and would be difficult to administer, not producing adequate revenue or a satisfactory distribution of the tax burden. A multiple tax system instead taxes various items, increasing government tax income in a more flexible way while checking tax evasion, but it involves higher collection costs.
Ajina
Taxable capacity refers to the maximum amount of taxes that can be collected from citizens without negatively impacting production. Economists have defined taxable capacity as either reaching the point where taxpayers must borrow to pay taxes, or as the optimum level of public finances indicated by financial principles. Taxable capacity can be absolute, referring to the maximum without unpleasant effects in a community, or relative, comparing the capacities of different communities. Understanding taxable capacity is significant for public finance administration as taxes are a major source of government revenue.
Reemou
Taxation is the biggest source of public revenue for modern governments. It is the legal duty of citizens to pay taxes honestly on income, property, and purchases. A good tax system collects the minimum necessary from citizens based on their ability to pay, ensures maximum social benefits, and applies taxes universally without discrimination. It also maintains simplicity, acceptability to the public, and a balance between different types of taxes to fund common welfare.
Salini
Taxation is the biggest source of public revenue for modern governments. The equity principle of taxation refers to fairness and justice in distributing the tax burden. Equity has two aspects: horizontal equity means those equally well-off should pay equal taxes, while vertical equity means those better off should pay more taxes than others.
Rigil
India has a long history of taxation dating back to 1922 when the country saw a major shift in its taxation system. The current system has a well-developed structure that clearly divides tax authority between the central government, state governments, and local bodies. In 1991, India's tax system underwent radical reforms including reducing customs and excise duties, lowering corporate tax rates, widening the tax base, and improving tax administration. Most state governments also replaced sales taxes with value-added tax starting in 2005. The central government levies both direct and indirect taxes.
Ramesh.m
Taxable capacity refers to the maximum amount citizens can contribute to public authorities through taxes without undue strain. Estimating taxable capacity allows governments to determine how much revenue can be raised, mobilize resources for development, and avoid imposing unnecessary taxes that hurt production and consumption. However, pushing taxes too far can curb consumption, cripple industry, and reach a point where additional taxation brings diminishing returns as taxpayers sell assets or take on debt to pay.
Mukhil
This document discusses different types of taxes. A progressive tax has increasing tax rates as the amount earned increases, so higher incomes are taxed at a higher percentage. A proportional tax has a fixed tax rate so the amount of tax is directly proportional to the amount earned, with the marginal tax rate equal to the average rate. Progressive taxes describe a distribution where the tax rate increases from low to high amounts, while proportional taxes have a consistent rate.
Joby
During British rule in India, taxes were primarily collected on agricultural production and international trade. Farmers paid taxes on their crops and land. The government also levied import and export duties on goods being shipped into and out of the country. Over time, laws like the Sea Customs Act and Tariff Act standardized and regulated customs and duties to generate government revenue.
Anitha
The taxable capacity of a country depends on several factors, including the size of national income, population, distribution of income, stability of income, pattern of taxation, nature of public expenditure, psychology of taxpayers, administrative efficiency, stages of economic growth, and political stability. Taxable capacity refers to the maximum amount of taxes a government can collect from its citizens without negatively impacting production.
Ajina
Taxable capacity refers to the maximum amount of taxes that can be collected from citizens without negatively impacting production. It is defined as the maximum ability of a community to contribute through taxation. Taxable capacity is assessed in both absolute and relative terms. Absolute taxable capacity is the maximum amount that can be collected without causing unpleasant effects, while relative compares capacities between communities. Understanding taxable capacity is significant for governments seeking to mobilize revenue sources and assess how much taxation citizens can bear.
Arun.s.k
This document outlines Taylor's classifications of public revenue sources, including grants-in-aid which are financial assistance between governments, administrative revenue from fees and fines, commercial revenue from goods and services, and taxes which are compulsory payments to the government without a direct benefit to the taxpayer.
Meera
Indirect taxes are paid by consumers through higher prices rather than directly by taxpayers. They have merits like being convenient to collect, elastic to adapt to economic conditions, equitable by taxing based on ability to pay, and promoting social welfare. However, indirect taxes also have demerits like being regressive by taking a larger share from low-income groups, creating uncertainty, discouraging saving, not being economical, and lacking a direct link between taxpayers and the government.
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Jaseem
- 1. WELCOME
- 2. INDIRECT TAXMERITS & DEMERITS
- 3. INDIRECT TAX An Indirect tax is imposed on one person, but is paid either partly or wholly by another person. Eg:- Sales tax, Excise duty
- 4. MERITS OF INDIRECT TAX Convenience Elastic Equity Social welfare Prograssive in nature Easy to collect
- 5. DEMERITS OF INDIRECT TAX Regressive in nature Uncertainty Discourage savings More uneconomical Inequitable No direct link with the government
- 6. THANK YOU