A. Explain why General Consumption Tax (GCT) is considered a Value Added Tax.

Q: what is a potential with a temporary tax difference in design to increase demand

A:

Q: Why is fringe benefit tax important?

A: Fringe benefits are those compensation and benefits provided to the employees which are other than…

Q: Q#02: (b) Differentiate between income tax and sales tax. Explain both of these types with the help…

A: Tax means the mandatory payment made by assesse to the government without expecting anything…

Q: Answer in points: Question. Difference between average and marginal tax rates

A: Average rate of tax is the amount of taxes paid on total income on average. For example, a business…

Q: Social welfare is the sum of O tax revenue and deadweight loss. O deadweight loss and consumer…

A: Social welfare is an activity to serve the society by providing best quality products and services.…

Q: Definition a tax on imports

A: Tax is the amount paid by the individual or the Corporation to the Federal Government of the…

Q: What is Marginal tax rate ?

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Explain various types of taxes

A: taxes A tax may be a obligatory fee or monetary charge levied by any government on a private or a…

Q: What is site-value tax

A: The site value tax is charged on the land's or site's value. It considers only the land and does not…

Q: What is Capital Gains Tax and give examples?

A: Income tax:  It is the amount a person is liable to pay on the earned amount in an accounting year.…

Q: Tax and give examples

A: Amusement tax   Amusement tax, impost on the general admission charges to recreational and…

Q: flat tax income tax property tax

A: A progressive tax is one in which the average tax burden grows in proportion to income.…

Q: It is a tax on the value of an article increased at each stage of its production or distribution.…

A: Excise tax is a type of indirect tax employed in case of specific goods (eg. fuel, tobacco,…

Q: 2. Creditable deductible input tax includes the following, except, a. Presumptive, transitional, and…

A: Value-added tax [VAT] is a tax that is charged on each and every stage of the goods and services…

Q: Define each of the following terms:i. Alternative minimum tax (AMT)

A: Alternative minimum taxIt is a tax levied by the U.S federal government with respect to income tax…

Q: What is ‘fringe benefit tax’(FBT)? Explain atleast five main salient features of the FBT?

A: Fringe Benefit Tax: It refers to a tax which an employer needs to pay on the value of fringe or…

Q: Read Section 1374 for built-in-gain tax 1. When does the tax apply?

A: The answer for the question on the Section 1374 for built - in - gain tax is given hereunder :…

Q: Real property tax is an example of: Group of answer choices Property tax Excise tax Privilege tax…

A: Real property tax is the tax on real property like land and buildings, improvements, machinery, etc.…

Q: What’s the difference between marginal and average tax rates?

A: The taxes are the government source of income from the general public. The tax rate are the…

Q: Define average tax rate

A: The taxes are the government source of income from the general public. The tax rate are the…

Q: Explain the difference between direct and indirect tax

A: Introduction: Tax refers to an individual's simple duty to contribute their resources. It is imposed…

Q: What are FUTA and SUTA taxes? Is there any possible reduction in the FUTA tax rate? If so, what is…

A: Introduction: Employer payroll taxes are paid by the employer from its own funds on the basis of…

Q: Illustrate what is incremental tax rate?

A: Definition: Tax: Tax is the compulsory legal payment that is imposed by the government.…

Q: 1. What is Donors Tax and give examples?

A: The Donor's Tax seems to be a tax on a donation or maybe even a gift that is levied on the…

Q: What is the difference between a progressive tax, a proportional tax, and a regressive tax?

A: Tax is an important concept in the area of finance. The United states has three types of taxes…

Q: . As distinguished from deductions, tax credit is a. A deduction from gross sales/receipts b. A…

A: Tax deductions are the amount which can reduce from taxable income. After such deduction, remaining…

Q: Discuss the various effects of income taxes on the ability to work, save and invest

A: Income Taxes- Individuals, entities/corporations/firms, and entities/corporations/firms are taxed on…

Q: How should managers consider income tax issues when choosing a transfer-pricing method?

A:

Q: 1. Name three types of tax rate structure and give examples.

A: Hi student Since there are multiple questions, we will answer only first question.

Q: DEFINE WITH THEIR DIFFERENCES BETWEEN THE FOLLOWING:         OUTPUT TAX & INPUT TAX ZERO RATED &…

A: SOLUTION-1               DIFFERENCE BETWEEN INPUT TAX AND OUTPUT TAX S NO INPUT TAX OUTPUT TAX…

Q: Can the effective rate of tax be negative? Why? or Why

A: it is sometimes possible that effective tax may be negative.This is but rare cases but sometimes it…

Q: We tax net income? What economic distortions would occur if we taxed gross receipts?

A: Gross income is the income to the company or an individual after operating activities or providing…

Q: Explain the differences between sales taxes and excise taxes. Give an argument in favor of excise…

A: Tax:   A tax is a compulsory charge or a levy imposed upon a taxpayer by a government organization…

Q: Fringe benefit tax is computed based on the monetary value of the fringe benefit. a.true b.false

A: Fringe benefits are benefits in addition to an employee's wages paid by employer, for example…

Q: consequence of underestimating provisional tax

A: Provisional tax is the amount of tax to be paid by taxpayers earning income other than salary in…

Q: What is Documentary Stamp Tax and give examples?

A: The answer is given below:

Q: What is personal income tax and it's use?

A: Income tax is a type of tax that governments impose on income generated by businesses and…

Q: Compare the bases of the Hall-Rabushka flat tax, a broad-based general sales tax, and a…

A: Hall-Rabushka flat tax: This concept was brought by Hall and Rabushka because flat tax would be…

Q: Explain with hypothetical example the effect of Investment Tax Credit.

A: Investment Tax Credit is an opportunity provided while filing for taxation where a deduction of a…

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.