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Questions and Answers
What is the main goal of eliminating excesses and wasteful public expenditures?
What is the main goal of eliminating excesses and wasteful public expenditures?
To reduce wasteful spending and optimize public expenditures
What is one way to strengthen the tax system?
What is one way to strengthen the tax system?
Using modern methods to enumerate various activities and the tax community
What is the benefit of making tax burden on investors more reasonable?
What is the benefit of making tax burden on investors more reasonable?
It can encourage investment and stimulate economic growth
What is the purpose of removing excesses and waste in public spending?
What is the purpose of removing excesses and waste in public spending?
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What is the goal of modernizing the tax system?
What is the goal of modernizing the tax system?
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Study Notes
Payment of Interest on Motor Vehicle Loan
- Government employees and public corporations pay interest on motor vehicle loans.
Re-imbursements
- Refunds for services rendered to another tier of Government, public corporations, and other statutory bodies by the Government.
Taxation
- Tax is an obligatory cash deduction from individuals to contribute to public services, based on their ability to pay, without regard to benefits received.
- Modern taxation is based on the principle of state sovereignty, without considering individual benefits.
- Indirect taxation of luxury goods can lead to a more equitable redistribution of income, benefiting the poor.
Strengthening the Tax System
- Make the tax burden on investors more reasonable.
- Eliminate excesses and wasteful public expenditures.
- Enhance the tax system by using modern methods to enumerate various activities and the tax community.
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Description
This quiz covers interest payment on motor vehicle loans and reimbursements for government employees, including refunds for services rendered to other government tiers and public corporations.
