fill in the blankl
------------ is money raised by taxation
revenue
taxation can be to
a) to raise revenue
b) to redistribute income
c)influence expendidenture
d)all of he above
d
what are 2 habits taxation may discourage?
smoking, drinking or gambling
____ is a tax that govermnets impose on income generated bybusiness
income tax
what is inflation?
a)describes a situation where prices fall and value of money increases
b)describes a situation where prices rise and value of money declines
b
tax that is levied on persons wealth and income
________ when prices are rising so fast that generally people prefer to spend their money rather than hold it
hyperinflation
capital gains tax are profit recieved from
a) current assets
b) fixed assets
c)current liablilities
b
a advantage of direct taxes
change in rate
______________ means to taxes that should be based on the ability to pay.
equality
which form of tax process is used in the caribbean countries?
a) regressive
b) proportional
c) progressive
c) progressive
what is tax?
a compulsory money payment to state by busniess and indivdual which is title to income use of good and services