The document discusses the principle of ability to pay and progressive taxation in Nepal. It states that those with more wealth or higher incomes should pay more in taxes, as a means of income redistribution. It also explains that tax burden should relate to one's ability to pay taxes, not what they receive from the government. It then analyzes different ways to measure ability to pay, concluding that income is the best measure. The document finishes by defining progressive taxation as when tax rates increase as income increases, and provides Nepal's income tax rates as an example.
here in Keynesian theory of income and employment is explained in deep so all those people who want to get keenly into this theory must at least have a look at the same as it can improve your knowledge.
MEANING
MEANING
DEFINITION
CLASSIFICATION OF PUBLIC EXPENDITURE
CAUSES FOR THE GROWTH OF PUBLIC EXPENDITURE
MEANING
DEFINITION
CLASSIFICATION OF PUBLIC EXPENDITURE
CAUSES FOR THE GROWTH OF PUBLIC EXPENDITURE
here in Keynesian theory of income and employment is explained in deep so all those people who want to get keenly into this theory must at least have a look at the same as it can improve your knowledge.
MEANING
MEANING
DEFINITION
CLASSIFICATION OF PUBLIC EXPENDITURE
CAUSES FOR THE GROWTH OF PUBLIC EXPENDITURE
MEANING
DEFINITION
CLASSIFICATION OF PUBLIC EXPENDITURE
CAUSES FOR THE GROWTH OF PUBLIC EXPENDITURE
Taxation 101 basic rules and principles in philippine taxation by jr lopez go...JR Lopez Gonzales
This was the informative speech on the basic taxation principles in the Philippines. It was a thirty-minute speech on the basics of the Philippine Tax system presented to the students of the Mindanao State University - Iligan Institute of Technology on 8 August 2011 for the Political Science 2 Lecture Series. The document was uploaded by JR Lopez Gonzales of www.politikalon.blogspot.com.
Effectiveness of Tax Deduction at Source (TDS) in IndiaDr. Amarjeet Singh
To Study and analyses all the purposes for which
TDS in India was introduced to ensure whether they are
properly achieved for collection of more revenues to Govt.
Also study major types of tax system in the world. Study
whether Adam smith’s all the four Canon of Taxation are
satisfied by TDS mechanism and to what extent with reasons
there for. To conclude, considering major tax collection
mechanism, whether TDS mechanism is effective or not.
A Logit Model of Informal Traders’ Decision to Evade Tax: A Case of Zimbabweiosrjce
Taxation is the commonest and oldest source of government revenue in the world. The main reason
for taxation is to finance government expenses and redistribute of wealth. The shadow economy and tax evasion
are both widespread in Zimbabwe. When the taxation system is not effective, many economic agents will use this
opportunity to escape paying tax (which is legal) or evade tax which is illegal. When tax evasion exist, the
government fails to allocate enough income for its programs, hence fails to deliver desirable social services.
Noting the significant influence of tax evasion on the state, this paper pursues to determine factors that cause
tax evasion and their relative impact. A questionnaire approach has been employed to collect responses. Using
a logit model the results shows that income, marital status and frequency of crossing the border have positive
effect on tax evasion
Personal Accounting
Gift & Estate Tax
Income Tax
Personal Employee Payroll
Specialized Accounting
Tax & Wealth Planning
Tax Estimations
Tax Service
IRS Problems
IRS Problems Home
Tax Resolution Services
Tax Payment Plan
Late Tax Payments
Underpayment Of Taxes
IRS Tax Audit
IRS Negotiation
Offer In Compromise
IRS Foreign Bank Account
Are you looking for someone to manage your book keeping? Are you finding it hard to keep your taxation in order? Are you looking for some financial advisory? If you answered yes to any of the questions, get in touch with us today!
GET STARTED
Eliminating IRS Debt with a Tax Payment Plan. If you owe the IRS a lot of money, and you’re unable to pay off the debt, you might be able to set up a tax payment plan.
Week 5 Discussion Responses - EconDiscussion for Response 1B.docxcockekeshia
Week 5 Discussion Responses - Econ
Discussion for Response 1
By: P,V
Week 5 - Taxes
Currently, our tax system is a progressive tax system. This means that the more money you make, the more money you pay. This way, those who do not struggle to put food on the table can afford to pay the government. In considering a better tax system, there should be five fundamental theories: fairness, adequacy, simplicity, transparency, and administrative ease.
In fairness, everyone pays a fair share of taxes within horizontal equity meaning that everyone pays a similar proportion of tax. In adequacy, there should be an adequate amount of taxes to provide enough revenue to meet the needs of society. Simplicity meaning that having a simpler tax system will help taxpayers understand the tax system and, therefore, remain compliant. Having transparency and knowing who is being taxed and how much. Everyone is also aware of what the money is being used for. Finally, with administrative ease compares to simplicity where the tax system is not too complicated or expensive for both the taxpayer and collector (Oklahoma Policy Institute).
Raising taxes has some pros and cons. Some pros include: ensuring that services to citizens are available and needs, such as road repair, are completed without needing bonds. Cons include having a less disposable income to citizens as well as lowering the consumer expenditure which hurts businesses and the overall economy. Another con is that raising the tax encourages excessive government spending.
Some advantages of a progressive tax system include allowing those who are poorer to live more comfortably. It also helps the government establish higher tax brackets to generate revenue. Other advantages of a progressive tax system are that it can potentially produce more total income for the government and it improves the spending power of those who are of lower income. Disadvantages include having complex incentives and rules drive the cost of compliance way up (Murphey, 2017).
Income tax refers to the amount one pays on total income from businesses to the federal and state governments. Sales tax refers to the percentage paid by consumers when purchasing certain items. One involves the business owner and the other involves the consumer. The estate, or death/inheritance tax also has pros and cons. Pros include the same amount of tax is charged to everyone, only approximately 0.2% of people are eligible for the death tax, almost no employers pay the estate tax upon transfer, and estates worth more than $5 million have an average of 55% of net worth that was never taxed. Cons include assets are taxed at the same rate of liquid assets. The tax affects lower income families than others. The estate tax is based on the current value of the property and government can tax up to 3 times on estate tax (Brandon Gaille, 2015).
Taxes are necessary to pay the government in order for states to have the necessary things to keep.
2016 tax review hints and changes, including PEASE and PEP Limitation, Alternative Minimum Tax (AMT), donations of appreciated capital gain property, qualified charitable distributions, ELOI contracts, net investment income tax (NIIT), Kiddie Tax rates and qualifications, family limited partnerships, tax reform, and the "death tax" provided by a certified CPA.
This is a simple research survey on the perception of selected people in Marinduque on their perception on the president Duterte's proposed new tax system of the country.
This power pint basically deals with the Overall Scenario of Ghandruk in regard to its Community Forest/ User group, Level of Remittance Inflow, and Impact of migration in Ghandruk.
This powerpoint Deals with basic Concepts of optical Fibers.It was prepared to assist students to get knowledge about Optical fibers and their working principle as well.
Read it ,, share it ,, Cheers...(C) Regmi Milan
1. Principle of Ability to Pay &
Progressive Taxation (In Nepal)
PRESENTER : MR. MILAN REGMI
NATIONAL COLLEGE
2. Principle of Ability to Pay
2
It’s a concept of Economics that says that “those who
have more resources (wealth), or earn higher incomes,
should pay more taxes”.
The ability to pay taxes are used as means of income
redistribution. (such as income tax or tax on luxury
goods)
Under the ability-to-pay principle, tax burdens should
be related not to what taxpayers receive from
government, but rather to their ability to bear the tax
burden—that is, to tolerate a sacrifice(threshold to bear
the burden of Tax).
Regmi Milan 007 1/14/2013
3. Illustration
3
For instance, An idea of paying a dollar is a lesser
sacrifice for a well-to-do person than for a poor
person.
An equal sacrifice requires higher tax payments
from the well-to-do person.
Regmi Milan 007 1/14/2013
4.
5. But the difficulty is to determine how this
ability to pay can best be measured?
5
mainly depends on the concept 'ability to pay'.
Should it be in respect of
Property,
Income or Expenditure?
Some Tests are discussed further !!
Regmi Milan 007 1/14/2013
6. If measured on the basis of property!
6
Some economists argue that , If a tax is imposed
according to the property that a person possesses, it
will be equitable. But property is not a correct index
of a person's ability to pay.
But why ? CHECK OUT THIS !!
One person may possess one dozen houses from each
of which he gets a monthly rent of Rs. 100, whereas
another person may have one centrally situated
building from which he may be getting Rs. 1500 as
rent.
Hence, we cannot be merely guided by the extent of a
man's property while imposing a tax.
Regmi Milan 007 1/14/2013
7. If measured on the basis of Expenditure !
7
It is often argued that, if a man is able to spend a
very large amount, he must be in a position to pay a
very high tax. This is a wrong conclusion.
Why ???? Again !!!
A man may have to spend a large amount of money
because he has a large number of dependants.
Expenditure, therefore, as an indicator of a person's
ability to pay must be rejected.
Regmi Milan 007 1/14/2013
8. The Best Test : INCOME
8
Because , what ever amount of Tax s/he pays
is out of their INCOME.
There’s no other alternative.
The tax system as a whole should be a just
one.
Regmi Milan 007 1/14/2013
11. Progressive Taxiation
A progressive tax structure is one in which an individual or
11
family's tax liability as a fraction of income rises with income.
If, for example, taxes for a family with an income of
Rs. 20,000 are 20 percent of income and taxes for a
family with an income of Rs. 200,000 are 30 percent
of income, then the tax structure over that range of
incomes is progressive.
One tax structure is more progressive than another if
its average tax rate rises more rapidly with income.
Regmi Milan 007 1/14/2013
12. Nepal Income Tax Rates for: Individuals
12
Income (Rs.) Tax Rate
0 - 160,000 1%
160,001 - 260,000 15% (+ Rs. 1,600)
Above Rs. 260,000 25% (+ Rs. 16,600)
Tax rate for Married
Income Tax Rate
0 - 200,000 1%
200,001 - 300,000 15% (+ Rs. 2,000)
Above Rs. 300,000 25% (+ Rs. 17,000)
Regmi Milan 007 1/14/2013
13. Why It Matters?
13
A progressive tax is one of many systems governments
use to raise revenue.
The idea of a progressive tax has always been debated.
Backers of a progressive tax argue that people with higher
incomes can more easily afford a higher tax burden.
Opponents tend to claim that it punishes high earners for
their success and eliminates monetary incentives for
workers wanting to increase their income level.
Taxation is one of the most widely (and heatedly) debated
topics out there, with many people arguing for and
against certain systems. The progressive tax is no
exception.
Regmi Milan 007 1/14/2013