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Tax collection is a major source of public sector revenue. However, taxation often elicitsreactions on agents of production in the society. below aresome terms that

Tax collection is a major source of public sector revenue. However, taxation often elicitsreactions on agents of production in the society. below aresome terms that often appear in handling intricacies of taxation.

Required:

i)Explain the following terms:

Tax Shifting (5 Marks)

Tax Impact (5 Marks)

Tax Effect (5 Marks)

ii)Fully and clearly discuss any of the three (3) theories of tax incidence known in economic literature. (10 Marks)

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