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Expanded value added tax?
Expanded value added tax is a form of sales tax that is assessed on the sale of goods or services of items imported into the Philippines. It is considered a consumption tax and is currently at 12 percent.
What type of tax is the sales tax?
A sales tax is a consumption tax, usually paid by the consumer at the point of purchase. For A+ answer is regressive
What does consumption tax mean?
A consumption tax is a type of tax imposed on the purchase of goods and services. It is typically levied at the point of sale, where consumers pay the tax as part of the transaction. This tax can take various forms, such as sales tax or value-added tax (VAT), and is usually calculated as a percentage of the sale price. The primary purpose of a consumption tax is to generate revenue for governments while encouraging savings and investment by taxing spending instead of income.
What are the 3 basic features of general consumption tax?
Mi a ask u
Which tax is not considered as a direct tax?
For all my fellow students, the correct answer is SALES tax. :)
Is considered a consumption tax?
sales tax
What is an example of a tax on consumption?
An example of a tax on consumption would be a sales tax. A sales tax is a tax paid for the sales of goods and services. A consumption tax, it is a tax on something used or "consumed." A sales tax is a good example. Europe has a value added tax which is the same idea.
What is a example of a tax on consumption?
An example of a tax on consumption would be a sales tax. A sales tax is a tax paid for the sales of goods and services. A consumption tax, it is a tax on something used or "consumed." A sales tax is a good example. Europe has a value added tax which is the same idea.
Expanded value added tax?
Expanded value added tax is a form of sales tax that is assessed on the sale of goods or services of items imported into the Philippines. It is considered a consumption tax and is currently at 12 percent.
What is an example of a tax of consumption?
A consumption tax is a tax on spending on goods and services. For example, if a retailer buys a shirt for $20 and sells it for $30, this tax would apply to the $10.
What type of tax is the sales tax?
A sales tax is a consumption tax, usually paid by the consumer at the point of purchase. For A+ answer is regressive
what is considered tax interest ?
what is considered tax interest?
What will an increase in taxes on consumers most likely cause?
This depends on what type of tax it is, lump sum or marginal.Lump sum: a lump sum consumption tax would not affect the general level or composition of consumption because fixed quantities do not affect optimal consumption-savings decisions.Marginal tax: if the marginal tax increased (i.e.) a general sales tax increase), it would decrease overall consumption because the tax would be an increase in the cost of consuming, and thus encourage the consumer to save more money and consume less.
Is property tax considered a direct tax?
property tax is considered as direct tax effect of property tax directly falls to the owner.
What kind of tax is paid by consumers when a product is purchased?
consumption
What is Reformed Value Added Tax in the Philippines?
The Reformed Value Added Tax in the Philippines is a consumption tax. The tax is paid on the purchase price. The abbreviation is RVAT.
What type of is paid on electricity gas and telephone bills?
utility tax
