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Shifting Process of Various Taxes

After reading this article you will learn about the shifting process of various taxes. 1. Taxes on Income: The individual income tax apples to earnings originating in all sec­tors of the economy. Taxes on income are of two types. Firstly taxes on the net income of individuals and secondly taxes on net income of business firms. That is taxed on [...]

By |2016-07-12T14:18:13+00:00July 12, 2016|Public Revenue|Comments Off on Shifting Process of Various Taxes

Incidence of Tax in the Real Life (With Diagram)

After reading this article you will learn about the incidence of tax in the real life. The main principles of the theory of incidence are condensed by Dalton to form a general preposition of the theory of incidence of taxation. In the real market situations, most commodities have de­mand and supply curves which are less than perfectly elastic. The usual [...]

By |2016-07-12T14:18:13+00:00July 12, 2016|Public Revenue|Comments Off on Incidence of Tax in the Real Life (With Diagram)

Classification of Taxes: 4 Types

This article throws light upon the four main types of taxes charged on taxpayers. the types are: 1. Direct and Indirect Taxes 2. Proportional, Progressive, Regressive and Degressive Taxes 3. Specific and Ad-Valorum Duties 4. Value Added Tax (VAT). Type # 1. Direct and Indirect Taxes: On the basis of assessment, rather than on the point of assess­ment, taxes are [...]

By |2016-07-12T14:18:13+00:00July 12, 2016|Public Revenue|Comments Off on Classification of Taxes: 4 Types
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