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 [...]
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 [...]
After reading this article you will learn about:- 1. Definition and Characteristics of Tax 2. Objectives of Taxation 3. Principles. Definition of Tax: In every country major part of the revenue is raised through taxation. According to Prof. Taylor "Taxes are compulsory payments to governments without expectations of direct return or benefit to the tax payer". Prof. Bastable "defined a [...]