Differentiate a consumption based tax from an income tax and illustrate with an example.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (14 reviews)
A consumption tax is levied on purchases of goods or ...View the full answer
Answered By
Subash Murugaih
I am leading expert in this web site couple of years and My clients are much happy with my works and services.
4.60+
309+ Reviews
539+ Question Solved
Related Book For
Taxation For Decision Makers 2017
ISBN: 9781119330417
7th Edition
Authors: Shirley Dennis Escoffier, Karen Fortin
Question Posted:
Students also viewed these Taxation questions
-
a. Differentiate a wealth tax from a wealth transfer tax and give examples of each. b. Differentiate a tax based on consumption from an income tax and illustrate with an example. c. Over what ranges...
-
Differentiate the tax treatment of an individual's capital losses from the tax treatment of corporate capital losses.
-
Tax and Retirement Policy: In Chapter 3, we illustrated budgets in which a consumer faced trade-offs between working and leisuring now as well as between consuming now and consuming in the future. We...
-
As the Developing market of Southern Africa there is endless growth opportunities and constant ask for high growth pushed by the business, this growth comes normally in a very erratic way but as...
-
A 1.50F capacitor has a capacitive reactance of 12.0 Q. (a) What must be its operating frequency? (b) What will be the capacitive reactance if the frequency is doubled?
-
Suppose vectors V,..., V p span R n , and let T: R n R n be a linear transformation. Suppose T(v i ) = 0 for i = 1, ..., p. Show that I is the zero transformation. That is, show that if x is any...
-
Total quality management (TQM) is based on four tenets of (1) continuous improvement, (2) employee participation, (3) product/service improvement, and (4) supplier relationships. Review each of the...
-
Eaton Enterprises uses the wage-bracket method to determine federal income tax withholding on its employees. Find the amount to withhold from the wages paid each employee. Payroll Period W-Weekly No....
-
The management of Classic Copy, a photocopying centre located on College Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year. Cash Accounts receivable...
-
The position of a particle as a function of time is given by r(vector) = (5.0i + 4.0j)t 2 m, where t is in seconds. a. What is the particles distance from the origin at t = 0, 2, and 5 s? b. Find an...
-
What is the maximum income tax rate that applies to the employee salary, the employment tax rate(s) on the salary, and the capital gain rate(s) on the long-term capital gains, for these four single...
-
How does a franchise tax differ from an income tax?
-
Simplify each expression. a + a
-
Who makes the policies, rules, and regulations concerning EHR systems and patient medical records. Explain.
-
a 2 0 - year, 7 % semi - annual coupon bond ( R 1 0 0 0 par value ) is priced at a yield maturity of 1 2 % . The yield changes by 4 0 basis points. the effective duration of the bond is closest to
-
present value compound amount $17000 term of investment 8 years nominal rate 4.5 interest compound monthly present value? compound interest
-
Use put call parity to determine the size of the arbitrage profit AT TIME T = 3 / 1 2 arising from the following situation. All options are European. So = $ 1 9 . 0 8 T = 3 / 1 2 ( for both the call...
-
Discuss the implications of microreactor technology on reaction kinetics and selectivity in highly exothermic reactions. How do these systems manage heat transfer more efficiently than traditional...
-
Write a Java program that serves as a primitive web browser. For this assignment it merely needs to input a server name and display the HTML that is sent by the web server. A web server normally...
-
What is the shape of the exponential distribution?
-
What is the purpose of the DIF formula? What happens if someone has a high DIF score?
-
Describe the various types of audits.
-
If the taxpayer does not agree with proposed adjustments, what alternative is available to a taxpayer who receives a 30-day letter?
-
Given the following exchange rates, what should the cross-exchange rate / be? Currency In US$ Per US$ 1.3221 0.7564 1.1514 0.8685 .6569 1.5223 1.1483 0.8709
-
Consider the following information: Rate of Return if State Occurs Probability of State State of Economy of Economy Stock A Stock B Stock C Boom .15 .40 .50 .30 Good .60 .16 .10 .09 Poor .20 Bust .05...
-
1. You follow the equity index HSI using an index fund in Hong Kong. You have signed an interest rate swap to exchange the capital gains (losses) from your portfolio, against a sequence of cash flows...
Study smarter with the SolutionInn App