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Customs duty is a kind of indierct tax.Customs duties taxes are imposed on assessable value; ad valorem tax that is a tax proportional to the price of the object being taxed.However, for certain items like petroleum and alcohol, Customs duty is realized at a specific rate applied to the volume of the import or export consignments.
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What is the advantage of regressive tax?
regressive tax encourages earning. this is such that as for the case of progressive tax whereby the more you earn, the more taxes you pay in the case of regressive tax, the more you earn the more you get to keep.
Why are some taxes considered to be regressive?
A tax is regressive if every member of the society has an equal burden of paying, despite wealth and income levels. The sales tax is considered regressive because everyone, from the wealthiest to the most destitute, pay the same rate.
What do progressive and liberal economists want to increase?
taxes
What is Imported duties?
Taxes that is added onto imported products
What are the different theories of taxation?
the diffusion theory it states that eventually the incidence of a tax will be untraceable and in reality is that it has been diffused by economic activities. the demand and supply theory A tax is shifted through the purchase and sale transactions depending on their elasticity.
Are Alcohol taxes Regressive or Progressive?
Regressive
Types of taxes?
Proportional taxes, progressive taxes and regressive taxes
What are three types of taxes?
proportional progressive regressive
What categories do all taxes regardless of their label or name fit into?
All taxes can fit into three categories. They are proportional, progressive, and regressive.
What is the advantage of regressive tax?
regressive tax encourages earning. this is such that as for the case of progressive tax whereby the more you earn, the more taxes you pay in the case of regressive tax, the more you earn the more you get to keep.
All taxes regardless of their label or name could fit into -categories?
All taxes can fit into three categories. They are proportional, progressive, and regressive.
All taxes reguardless of their label or name could fit into what categories?
All taxes can fit into three categories. They are proportional, progressive, and regressive.
All taxes regardless of their label or name could fit into what categories?
All taxes can fit into three categories. They are proportional, progressive, and regressive.
What are three types of tax structures?
Three types of tax structures are progressive, regressive, and proportional. Progressive taxes increase as income levels rise, regressive taxes impose a greater burden on low-income individuals, and proportional taxes apply the same tax rate to all individuals regardless of their income level.
What are the type of taxes?
Taxes may be proportional taxes, progressive taxes or regressive taxes, based on how they are calculated.Some types of taxes are excise taxes, income taxes, sales and value-added taxes, and property (ad valorem) taxes.
What are tariffs or custom duties?
these are taxes on imported goods
What is the advantage of tax?
regressive tax encourages earning. this is such that as for the case of progressive tax whereby the more you earn, the more taxes you pay in the case of regressive tax, the more you earn the more you get to keep.
