What is an excise tax?

Q: What is the difference between evading and avoiding a tax obligation?

A: Tax evasion is a criminal offence in which a person or company knowingly avoids paying their true…

Q: What are cannons of taxation?

A: The administrative components of a tax are referred to as canons of taxation. They have to do with…

Q: What is Double Taxation?

A: Taxation refes to a system of levying taxes on individuals or firms in the economy. Taxes are a…

Q: Price PA A B E a The tax in the graph is equal to Q₂ Q₂ St D Sy Q Quantity

A: A  demand curve depicts the relationship between the price of a good and the services and the demand…

Q: New York has the highest cigarette taxes in the country. The price of an average pack of cigarettes…

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Q: a. What is the equilibrium price buyers pay directly to the sellers? b. After paying the tax, what…

A: Set demand relatively inelastic such that the X intercept of the demand curve is 6 (this corresponds…

Q: Explain the impact of per-unit sales to the buyer and the seller, using a DIAGRAM that illustrates…

A: When sales tax is imposed on the producer, the production cost of the producer rises because for…

Q: The govemment is considering imposing taxes on the sellers of certain classes of products. The first…

A: Meaning of Tax Imposition:The term tax imposition or the tax hike refers to the situation under…

Q: Income tax is a a. Local tax b. Special tax c. Tax on persons d. Regressive tax e.…

A: Taxes are mandatory payments placed on individuals or businesses by a government agency, whether…

Q: Briefly explain what are direct tax

A: Taxes are categorised as direct and indirect tax based on who shares the final burde of the taxes…

Q: Explain three different types of taxes imposed in the United States including the reason for its…

A: Following are the three types of tax imposed in the United States: Progressive Regressive…

Q: What are the Average Tax Rates?

A: Average Tax rate is the sum of total taxes paid divided by total taxable income. Under the…

Q: Your Finance Minister considers making a tax reform. He asks you, as a senior tax administrator, to…

A: There are five basic requirements that must be satisfied by a good tax system : Fairness Adequacy…

Q: What is tax system? Define and explain in your own words.

A: Taxation is the process by which a taxing authority, usually a government, imposes a financial…

Q: .How are the income taxes determined?

A: The income tax is the tax that is levied on the income of the people directly. It is collected,…

Q: Critically examine the principles of taxation and point out the difficulties in their practical…

A: Taxation is an important part of government revenue. Without taxes it is not possible for a…

Q: Where does our taxes goes? What are the things that the government do to our taxes? Who are those…

A: As economies emerged, economic agents increased their demand for goods and services. Production of…

Q: The graph shows the market for backpacks. Price (dollars per backpack) 22 20+ 18- 16- 14- 12+ 10- S…

A: Equilibrium is a state where supply and demand are balanced, ultimately leading to a stable market…

Q: Price (P) S2 (after tax) S, (before tax) Тах $35 $30 $25 $20 D 90 100 Quantity (Q) e diagram above…

A: Answer: option d ($10) Explanation: The S2 has shifted up by $10 at each quantity. So the tax amount…

Q: K New York has the highest cigarette taxes in the country. The price of an average pack of cig. and…

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Q: what is the difference between tax evasion and tax avoidance and give examples

A: Taxes are a result of your earnings or the wealth you generate by operating a business. Individuals…

Q: he Philip

A: The new tax reform is considered to be a good news for low-income and middle-income earners of the…

Q: What is merits and demerits of direct tax?

A: A tax is described as one that the government imposes on citizens who participate in the economy in…

Q: Refer to Figure 8-5. Assume the tax was levied on the producer. Which area represents the reduction…

A: Taxation is the main source of revenue that governments receive. As a result of the customer paying…

Q: Diffrentiate between direct tax and indirect tax

A: Tax is compulsory payments which is made to government, There is no direct quid pro quo. or taxpayer…

Q: What is the nature of Taxation?

A: Government and private sector balance the functioning of economy. With public and private sector,…

Q: what happens in supply and demand when there is decrease in income tax but also an increase in sales…

A: It can be defined as a form of tax this tax is based on consumption and this tax is imposed by the…

Q: Give an example for the Average Tax Rates?

A: Average tax rate is the tax paid as a percentage of total income. The average tax rate can be…

Q: What are the consequences of an increase in direct taxation?

A: Tax is the charge which is levied by the government. It is a source of government revenue which the…

Q: Write a paragraph that explains how the U.S. tax system has become less progressive since the 1950s.

A: In the last 50 years, the federal tax system of the US has undergone 3 main and powerful changes.…

Q: What are the four major types of taxes in India?

A: There are four major types of taxes in India.

Q: Analyze taxes on tobacco through the perspective of: a. a smoker b. a cigarette firm

A: In an economy, when taxes are imposed on buyers or sellers, there will be different impact due to…

Q: if tax revenue decreases what would be the effect on maryland

A: The question is asking about the potential effects on the state of Maryland if there is a decrease…

Q: explain four reason why is tax important for a country

A: Tax is the unilateral payment made by the people towards the government for the income earned by the…

Q: who pays the corporate taxes the globel ecomany

A: When there is high tax rate in the economy then the firms respond by lowering the investments and…

Q: Which tax is the largest source of tax revenue in the United States? personal income taxes…

A: The largest source of the tax revenue of the United States government has individual tax been since…