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To generate revenues to pay for government expenditures.
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∙ 11y ago
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Principles of a good tax system?
The principles of good tax system is that it is efficient, understandable and equitable. The benefit principle is also another principle of a good tax system.
Basic principle of sound tax system?
(1) Fiscal adequacy - means that the sources of revenues should be sufficient to meet the demand of public expenditures.(2) Equality or theoretical justice - means that the tax burden should be in proportion to the taxpayer's ability to pay. (ability-to-pay principle). (3) Administrative feasibility - means that tax laws should be capable of convenient, just and effective administration.
The basic principle of sound tax system?
1. Fiscal Adequacy - the sources of tax revenue should coincide with, and approximate the needs of government expenditure. Neither an excess nor a deficiency of revenue vis-à-vis the needs of government would be in keeping with the principle.2. Administrative Feasibility - tax laws should be capable of convenient, just and effective administration.3.Theoretical Justice - the tax burden should be in proportion tothe taxpayer¶s ability to pay( ability- to - pay principle). The 1987Constitution requires taxation to be equitable and uniform.
What are the two principles used to assess fairness of a tax?
Benefits principle and Ability to pay principle.
What are the fundamental concept of accounting?
basic principle of accounting
Principles of a good tax system?
The principles of good tax system is that it is efficient, understandable and equitable. The benefit principle is also another principle of a good tax system.
What is the basic principle of radar communication system?
Doppler effect is the basic principle for the radar.
What is the basic principle of successful system?
The Basic Principals of Successful system is to follow the design of a predefined system..
Basic principle of sound tax system?
(1) Fiscal adequacy - means that the sources of revenues should be sufficient to meet the demand of public expenditures.(2) Equality or theoretical justice - means that the tax burden should be in proportion to the taxpayer's ability to pay. (ability-to-pay principle). (3) Administrative feasibility - means that tax laws should be capable of convenient, just and effective administration.
What is the principle that justifies a regressive tax?
The benefits-received principle justifies a regressive tax.
The basic principle of sound tax system?
1. Fiscal Adequacy - the sources of tax revenue should coincide with, and approximate the needs of government expenditure. Neither an excess nor a deficiency of revenue vis-à-vis the needs of government would be in keeping with the principle.2. Administrative Feasibility - tax laws should be capable of convenient, just and effective administration.3.Theoretical Justice - the tax burden should be in proportion tothe taxpayer¶s ability to pay( ability- to - pay principle). The 1987Constitution requires taxation to be equitable and uniform.
Describe the difference between a regressive tax system and a progressive tax system and the state the principle that supports each one?
A Regresssive tax system is when a larger percantage frome the income from low-income people than the income of high-income people
Which basic principle of democracy would be used to justify taxing money from the wealthy and redistributing it among the poor?
This is the principle of socialism or marxism. It is not a democratic principle per se, even though many democracies have this behavior written in their tax codes.
What is A basic principle of our system of government which maintains that all power is derived from the people is known as?
The representative democracy
Explain basic principle of analog clamp meter?
basic principle of analogue clamp meter
What is the basic principle of belt conveyer in two words?
The basic principle of a belt conveyor is a # looped pully #
Basic principle of uv?
The basic principle is that UV light is high energy light with shorter wavelength.
