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Questions and Answers
The Spanish public sector is mainly financed by:
The Spanish public sector is mainly financed by:
- Administrative fees
- Taxes (correct)
- Contractual income
- Special contributions
A tax is:
A tax is:
- A Compulsory payment that entitles you to receive a certain public service.
- A public revenue of a sanctioning nature.
- A compulsory payment levied without consideration of any reward or service given in exchange (correct)
- A fee.
A dividend of a public limited company received by the Junta de AndalucÃa has the following economic nature as public revenue:
A dividend of a public limited company received by the Junta de AndalucÃa has the following economic nature as public revenue:
- Income of a financial nature. (correct)
- Income on capital account.
- Income of a non-financial nature.
- Increase in financial assets.
An indirect tax can be identified as:
An indirect tax can be identified as:
The tax rates applied to taxes:
The tax rates applied to taxes:
The horizontal equity principle of taxation requires that:
The horizontal equity principle of taxation requires that:
The tax principle of redistribution requires that:
The tax principle of redistribution requires that:
The tax burden is usually defined as the following ratio:
The tax burden is usually defined as the following ratio:
Individual A has an income of CU100 and B has an income of CU200. Among the following situations, the tax paid by each individual (CU) is indicated, there is progressivity in:
A B
Individual A has an income of CU100 and B has an income of CU200. Among the following situations, the tax paid by each individual (CU) is indicated, there is progressivity in: A B
Individual A has an income of CU1,000 and B has an income of CU2,000. Among the following situations, in the tax paid by each individual (u.m.) is indicated, there is progressivity in:
A B
Individual A has an income of CU1,000 and B has an income of CU2,000. Among the following situations, in the tax paid by each individual (u.m.) is indicated, there is progressivity in: A B
In a married couple, both spouses receive income from work. Which of the following taxation options will be more favourable for married couple, in the face of a proportional personal income tax rate and no deductions?
In a married couple, both spouses receive income from work. Which of the following taxation options will be more favourable for married couple, in the face of a proportional personal income tax rate and no deductions?
The personal income tax period (the period of time to which the declared income corresponds):
The personal income tax period (the period of time to which the declared income corresponds):
The linear income tax model is characterised by:
The linear income tax model is characterised by:
Corporate income tax is a tax they pay:
Corporate income tax is a tax they pay:
Corporate income tax is a tax that is levied:
Corporate income tax is a tax that is levied:
The proposal known as "Tobin's tax" aims to establish a tax to tax:
The proposal known as "Tobin's tax" aims to establish a tax to tax:
The net wealth tax is a tax that is intended to be levied:
The net wealth tax is a tax that is intended to be levied:
Transfer taxes are aimed at taxation:
Transfer taxes are aimed at taxation:
The tax on personal expenditure is a tax:
The tax on personal expenditure is a tax:
A Spanish entrepreneur selling a product to a French entrepreneur:
A Spanish entrepreneur selling a product to a French entrepreneur:
The VAT applied in EU countries is intended to tax:
The VAT applied in EU countries is intended to tax:
The tax on personal expenditure is a direct tax which:
The tax on personal expenditure is a direct tax which:
Individual A has an income of CU100 and B has an income of CU200. If a flat tax rate of 10% is applied, the amounts of tax payable (CU) will be:
Individual A has an income of CU100 and B has an income of CU200. If a flat tax rate of 10% is applied, the amounts of tax payable (CU) will be:
The taxation principle of equality requires at least that:
The taxation principle of equality requires at least that:
In a married couple, both spouses receive income from work. Which of the following taxation options will be more favourable for the married couple, in the face of a progressive rate of personal income tax?
In a married couple, both spouses receive income from work. Which of the following taxation options will be more favourable for the married couple, in the face of a progressive rate of personal income tax?
In a married couple, both spouses receive income from work. Which of the following taxation options will be more favourable for this couple, in the face of a flat-rate personal income tax (without deductions or exemptions)?
In a married couple, both spouses receive income from work. Which of the following taxation options will be more favourable for this couple, in the face of a flat-rate personal income tax (without deductions or exemptions)?
From the consideration of the following situation:
Individual Rent (u.m.) Tax (u.m.)
A 100 20
B 100 20
C 200 41
The following can be stated with regard to the taxation principle of equality:
From the consideration of the following situation: Individual Rent (u.m.) Tax (u.m.) A 100 20 B 100 20 C 200 41 The following can be stated with regard to the taxation principle of equality:
The taxable person for VAT in the countries of the European Union is:
The taxable person for VAT in the countries of the European Union is:
Flashcards
What is a Tax?
What is a Tax?
A mandatory payment without direct reward or service in return.
Tax Definition
Tax Definition
Revenue from the state's inherent right to claim property.
What is an Indirect Tax?
What is an Indirect Tax?
Collected from someone other than the person who bears the burden.
Horizontal Equity
Horizontal Equity
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Tax principle of redistribution
Tax principle of redistribution
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Redistribution
Redistribution
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Linear Income Tax
Linear Income Tax
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What is Tobin's Tax?
What is Tobin's Tax?
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Net Wealth Tax
Net Wealth Tax
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Who pays VAT in EU?
Who pays VAT in EU?
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Study Notes
- The Spanish public sector is mainly financed by taxes, special contributions, and administrative fees.
Taxes
- Compulsory payments levied without direct reward or service in return.
- A compulsory payment devoid of direct benefit to the payer.
- A public revenue sourced from the government's eminent domain.
- It is imposed by a public administration without direct consideration.
Public Revenue
- Dividends from a public limited company received by the Junta de AndalucÃa are considered income of a financial nature.
Indirect Tax
- Can be identified as one demanded by the Treasury from a person other than the one who must bear it.
Tax Rates
- Usually a percentage applied to a monetary basis or a sum of money per physical unit.
Horizontal Equity
- Requires persons in the same situation to receive the same tax treatment.
Redistribution
- Involves public spending programmes that primarily benefit those with the fewest resources.
- Also involves redistributing the after-tax income to bring it closer to equality.
Tax Burden
- Usually defined as the ratio of taxes plus social contributions to GDP
Progressive Taxation
- Evident when higher incomes are taxed at a greater rate, such as Individual A with CU1,000 income paying less tax (e.g., CU10) compared to Individual B with CU2,000 income paying more (e.g., CU21).
Personal Income Tax Exemption
- A more appropriate personal income tax exemption for living expenses would deduct a higher amount from the quota of an individual with a lower income compared to an individual with a higher income.
Married Couples and Income Tax
- With a proportional personal income tax rate and no deductions, individual taxation is more favorable for a married couple when both spouses receive income from work.
Personal Income Tax Period
- The period usually coincides with the calendar year, but could theoretically span a longer duration.
Linear Income Tax Model
- It uses a single tax rate for all taxpayers.
Corporate Income Tax
- It is paid by legal persons in general as well as certain entities without legal personality
- Levied on the accounting profit adjusted for tax purposes.
Tobin's Tax
- Aims to tax speculative foreign exchange operations.
Net Wealth Tax
- Intended to be levied on the assets and rights, net of debts, of natural persons.
Transfer Taxes
- Aimed at taxing transfers of goods for valuable consideration by natural persons.
Personal Expenditure Tax
- Is a direct tax consisting of an indirect and of a personal nature.
VAT
- Under the reduced rate of taxation applied in Spain, VAT can be classified as a proportional tax.
Selling a Product to a French Entrepreneur
- A Spanish entrepreneur selling a product to a French entrepreneur does not charge VAT to the buyer.
VAT in EU Countries
- Intended to tax consumption by natural persons.
Net Wealth Tax
- Intended to be levied on the assets and rights, net of debts, of natural persons.
Flat Tax Rate
- If a flat tax rate of 10% is applied, the amounts of tax payable would be proportional to their incomes (e.g., 10 A and 20 B).
Direct Tax
- A tax for which there is no provision for pass-through from a Legal Affairs point of view.
- One that cannot be transferred, from a Legal Affairs point of view, to another person.
Taxation Principle of Equality
- The taxation principle of equality requires at least that persons in the same situation receive the same tax treatment.
Spanish Public Sector
- Spanish public sector is mainly financed by taxes and social security contributions.
Progressive Rate of Personal Income Tax
- Joint taxation is more favorable for the married couple, in the face of a progressive rate of personal income tax.
Flat-Rate Personal Income Tax
- It makes no difference whether tax is paid in any of the three ways.
Taxation Principle of Equality
- Horizontal equity is fulfilled, but not vertical equity.
Taxable Person for VAT
- The taxable person for VAT in the countries of the European Union is the seller, importer or intra-Community acquirer of goods.
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