Types of Taxes and Determination of Amount Quiz
18 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What type of tax is imposed upon an individual, whether citizen or not, residing within a specified territory without regard to their property or occupation?

  • Income Tax
  • Excise Tax
  • Property Tax
  • Personal Tax (correct)
  • Which tax is imposed on real or personal property in proportion to its value?

  • Property Tax (correct)
  • Excise Tax
  • VAT
  • Personal Tax
  • What type of tax is classified as any tax that is not a poll tax or a property tax?

  • Property Tax
  • Excise Tax (correct)
  • Estate Tax
  • Personal Tax
  • Which tax is demanded from the person who cannot shift the burden to another individual?

    <p>Direct Tax</p> Signup and view all the answers

    Which tax type is intended for one person but the expectation is for them to pass on the burden to another?

    <p>Indirect Tax</p> Signup and view all the answers

    What type of tax includes taxes like income tax, estate tax, and donor's tax where both the incidence and impact fall on the same individual?

    <p>Direct Tax</p> Signup and view all the answers

    What type of tax is the excise tax on cigars and liquors based on?

    <p>Specific tax</p> Signup and view all the answers

    Which tax is levied without a specific or predetermined purpose?

    <p>VAT</p> Signup and view all the answers

    In which type of tax does the tax rate increase as the base tax decreases?

    <p>Regressive tax</p> Signup and view all the answers

    What is the characteristic of a progressive or graduated tax?

    <p>Tax rate increases as the tax base grows</p> Signup and view all the answers

    Which type of tax achieves social or economic goals?

    <p>Regulatory tax</p> Signup and view all the answers

    Who bears the burden of taxes like VAT and percentage tax initially?

    <p>The businesses</p> Signup and view all the answers

    What are the elements of a sound tax system according to the text?

    <p>Fiscal Adequacy, Theoretical Justice, and Administrative Feasibility</p> Signup and view all the answers

    What is the primary principle suggested by 'Theoretical Justice' in a sound tax system?

    <p>Taxation based on taxpayers' ability to pay</p> Signup and view all the answers

    Which of the following is an example of a National Tax according to the text?

    <p>Income Tax</p> Signup and view all the answers

    In the context of taxation, what does 'scope' refer to?

    <p>The geographical area where the tax is applicable</p> Signup and view all the answers

    Which classification of taxes involves taxes imposed on specific goods or services?

    <p>Excise Taxes</p> Signup and view all the answers

    Based on who bears the burden, which type of tax is designed to be directly shifted onto consumers by producers?

    <p>Value-Added Tax (VAT)</p> Signup and view all the answers

    More Like This

    Understanding GST and VAT Systems Quiz
    12 questions
    Indirect Taxes Quiz
    32 questions

    Indirect Taxes Quiz

    SlickSaxophone avatar
    SlickSaxophone
    Use Quizgecko on...
    Browser
    Browser