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.
The estate tax is the best example.
A personal tax is a direct tax levied on a taxpayer. One example of a personal tax is the tax imposed on the income of a person.
There are several options that offer tax-exemptions on the federal level but not always on the state or local level. One example of an option that allows interest to be tax-exempt are municipal bonds. Tax laws vary by state so the tax-exemption may be void for a resident purchasing a bond in another state.
Tax is a broad term & duty is a part of tax.......Tax levied on person, product, services & assets for example-INCOME TAX levied on person,VAT levied on sale of products,SERVICE TAX levied on providing taxable services, WEALTH TAX levied on assets..........Genrally DUTY levieble on goods for example-EXICE DUTY levieble on manufaturing of goods, CUSTOM DUTY levieble on import & exports of goods...........................Sachin gupta from jhalawar (RAJASTHAN)
I believe it is for the professional priviledge tax for TN. My husband is a CPA, for example, and he had to pay this tax. "L2GTN" is how the expense was categorized on my credit card statement. Hope that helps.
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.
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.
sales tax
sales tax
Tax on gasoline is an example of an excise tax. Excise taxes are taxes on specific goods or services that are typically included in the price of the product and paid by the consumer, rather than collected separately. The purpose of an excise tax is usually to discourage the consumption of the taxed item or to raise revenue for the government
A value-added tax (VAT) is a form of consumption tax.
A sales tax is a consumption tax, usually paid by the consumer at the point of purchase. For A+ answer is regressive
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.
Objectives:1. Collection of revenue2. Redistribution of income3. Macroeconomic control4. Protection of industry5. Economic growth6. Control of consumption...Example- tobacco, drugs.
consumption
Ad valorem duty - ad valorem tax is an indirect tax i.e. tax on consumption and it's expressed as a percentage. For example, an ad valorem tax of 10% on computers will mean that if the computer is priced at $1000, the price will be $1100 if the computer is priced at $2000, the price will be $2200
The Reformed Value Added Tax in the Philippines is a consumption tax. The tax is paid on the purchase price. The abbreviation is RVAT.