Podcast
Questions and Answers
What is the key difference between a direct tax and an indirect tax?
What is the key difference between a direct tax and an indirect tax?
- Direct tax is levied on properties, while indirect tax is levied on individuals.
- Direct tax is paid by the intended taxpayer, while indirect tax is paid by someone else. (correct)
- Direct tax has a fixed amount, while indirect tax is based on the value of the tax object.
- Direct tax is progressive, while indirect tax is regressive.
- None of the above
Which type of tax imposes increasing rates as the tax base increases?
Which type of tax imposes increasing rates as the tax base increases?
- Excise tax
- Value Added Tax
- Progressive tax (correct)
- Specific tax
- None of the above
What is the purpose of excise tax as mentioned in the text?
What is the purpose of excise tax as mentioned in the text?
- To tax annual income, gains, or profits
- To collect taxes on properties, real, or personal
- To impose taxes on sin products and non-essential commodities (correct)
- To impose a fixed amount per unit tax
- None of the above
What is the essential characteristic of taxation that ensures it is not a voluntary payment?
What is the essential characteristic of taxation that ensures it is not a voluntary payment?
Which characteristic of taxation ensures that the tax amount is based on an individual's ability to pay?
Which characteristic of taxation ensures that the tax amount is based on an individual's ability to pay?
Under what condition can a tax be payable in a form other than money based on the text?
Under what condition can a tax be payable in a form other than money based on the text?
What is the purpose of taxation according to the text?
What is the purpose of taxation according to the text?
In the context of taxation, why is it necessary for the object to be subject to the jurisdiction of the taxing state?
In the context of taxation, why is it necessary for the object to be subject to the jurisdiction of the taxing state?
Who has the power to levy taxes according to the text?
Who has the power to levy taxes according to the text?
Under which theory of cost allocation does taxation operate as per the text?
Under which theory of cost allocation does taxation operate as per the text?
Flashcards are hidden until you start studying
