Fiscal policy SAQ

Direct taxation and indirect taxation.

PAYE (Pay As You Earn), corporation tax, universal social charge.

An indirect tax on goods/services paid by final consumers.

<p>Tobacco, alcohol, and fuel.</p> Signup and view all the answers

<p>Incomes over €12,000 per annum.</p> Signup and view all the answers

<p>To fund social insurance benefits, such as social welfare payments.</p> Signup and view all the answers

<p>33%.</p> Signup and view all the answers

<p>A company's profits.</p> Signup and view all the answers

<p>Legally arranging your tax affairs to reduce your tax liability.</p> Signup and view all the answers

<p>Illegally arranging your tax affairs to reduce your tax liability.</p> Signup and view all the answers

<p>The person or firm who actually pays the tax.</p> Signup and view all the answers

<p>Equity, economy, convenience, certainty.</p> Signup and view all the answers

<p>Taxes should be fair, with those earning more paying more.</p> Signup and view all the answers

<p>The cost of collecting the tax should not exceed the amount collected.</p> Signup and view all the answers

<p>Taxes should be collected in a manner that is easy for the taxpayer to pay.</p> Signup and view all the answers

<p>axes should be collected in a manner that is easy for the taxpayer to pay.</p> Signup and view all the answers

<p>Money spent by the government on a continuous basis.</p> Signup and view all the answers

<p>Pay for nurses, teachers, Gardaí, etc.</p> Signup and view all the answers

<p>Transfer payments to individuals for which no factor of production has been provided, such as child benefit and jobseeker's allowance.</p> Signup and view all the answers

<p>When government current revenue exceeds government current expenditure.</p> Signup and view all the answers

<p>Reduces government debt or can be put aside for a ‘rainy day fund’.</p> Signup and view all the answers

<p>When government current revenue is less than government current expenditure.</p> Signup and view all the answers

<p>National debt rises, and the economy may be more vulnerable to an economic shock.</p> Signup and view all the answers

<p>Introducing new taxes such as the USC or increasing VAT.</p> Signup and view all the answers

<p>Cutting social welfare payments or reducing public sector numbers.</p> Signup and view all the answers

<p>Growth of the hidden economy or increased emigration due to high tax on income.</p> Signup and view all the answers

<p>A tax on incomes over €12,000 per annum.</p> Signup and view all the answers

<p>To charge for carbon-emitting fuels such as coal, oil, and gas.</p> Signup and view all the answers

<p>Taxpayers should know their tax liability and have certainty that rates won’t change for at least 12 months.</p> Signup and view all the answers

<p>Reduction in quality of state services due to fewer workers and increased inequality.</p> Signup and view all the answers