0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What is an explanation of the purpose of taxation?
The primary purpose of taxation is to raise money for the government. Some taxes also discourage certain behaviors such as smoking and drinking ( the so-called sin taxes ) and redistribute wealth, taxes such as the graduated income tax and inheritance tax. Protective tariffs protect domestic industries from foreign competition.
What is the purpose of income tax in the Philippines?
The main purpose of our government in imposing taxes is to raise fund enable for them to work, because taxation is the strongest power of the government and therefore, it is highly needed by them.
Purpose of the income tax act?
To raise Income Tax.
Who is the person who assigns to property for tax purpose?
tax accessor
What is the purpose of corporate tax?
Corporate tax is the tax paid by companies based on its profit. Its purpose is for government projects like building of roads, public schools, and hospitals.
What is the purpose of a sin tax?
To promote health by discouraging vice and to collect more revenue for healthcare..
What was the main purpose of the tax cuts Reagan supported?
to eliminate deductions and reduce rates.
What are the disadvantages of sin taxes?
Sin tax is a tax placed on items that are considered harmful to human health. The disadvantages of the sin tax is whether or not these taxes actually discourage use of the products that the tax is trying to prevent.
What is sin tax?
A sin tax is an unusually high excise taxes on cigarettes, liquor, gambling, and so on.
What is the homophone for syntax?
The homophone for "syntax" is "sin tax."
Define sin taxes and give examples?
A sin tax is a tax on certain items like alcohol and cigarettes, which are regarded as not a necessity or luxuries.
Taxes on items like cigarettes and alcohol are called?
Sin Taxes
What is the effect of sin tax bill?
ewan
What are the disadvantages of sin tax law?
Some potential disadvantages of sin tax laws include: Disproportionate impact on low-income individuals: Sin taxes can place a greater burden on individuals with lower incomes, as they may spend a larger proportion of their income on sin products. Potential for black market activity: High sin taxes can create an incentive for the development of black market activity, where individuals seek to avoid paying the taxes by purchasing illegal or untaxed products. Negative economic impact on industries: Sin tax laws can adversely affect industries that produce sin products, potentially leading to job losses and economic decline in those sectors.
What is an explanation of the purpose of taxation?
The primary purpose of taxation is to raise money for the government. Some taxes also discourage certain behaviors such as smoking and drinking ( the so-called sin taxes ) and redistribute wealth, taxes such as the graduated income tax and inheritance tax. Protective tariffs protect domestic industries from foreign competition.
What is the economic effect of sin tax bill?
ewan
What is the main purpose for having a 501c3?
tax exemptions.. non profits are usually 501 c3 like animal rescues and churches..
