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Direct tax is a tax paid by a person, as opposed to a tax levied on a business that the person indirectly pays. Double taxation is when a tax is paid twice on the same income or item. Indirect tax is a tax collected by an intermediary (such as a store) on behalf of the person who actually is required to pay (such as a customer)
For example, if there is one social good and two taxpayers (A and B), their demand for social goods is represented by a and b; therefore, a+b is the total demand for social goods. The supply curve is shown by a'+b', indicating that goods are produced under conditions of increasing cost.
Australia has implemented several tax amnesty programs in the past, including the "Project DO IT" initiative in 2014 and the "Taxation Amnesty Initiative" in 2007.The Taxation Amnesty Initiative was a unique program that enabled qualifying individuals and businesses to reveal any tax liabilities that were not reported or underreported without ...
Non-tax revenues fluctuate much more from one year to another than taxes — three times as much in the European Union, [7] and slightly less than that for the globe as a whole. [8] Many countries in Africa can report changes in non-tax revenue of over 35 percent from one year to another due to variations in the price of their natural resources ...
See 26 U.S.C. 7422. Also, without paying the tax, he could have challenged claims of tax deficiencies in the Tax Court, 6213, with the right to appeal to a higher court if unsuccessful. 7482(a)(1). Cheek took neither course in some years, and, when he did, was unwilling to accept the outcome.
A tax offset is a reduction in the amount of tax an eligible taxpayer owes in a given income year. The Australian Taxation Office (ATO) offers various tax offsets to provide targeted assistance to different groups of taxpayers, encouraging certain behaviours or helping those in specific situations.
The cost of a distortion is usually measured as the amount that would have to be paid to the people affected by its supply, the greater the excess burden. The second is the tax rate: as a general rule, the excess burden of a tax increases with the square of the tax rate. [citation needed]
Similarly, the word "deficiency" has more than one technical meaning under the Internal Revenue Code: one kind of "deficiency" for purposes of 26 U.S.C. § 6211 relating to statutory notices of deficiency, U.S. Tax Court cases, etc. (meaning, usually, the excess of the amount that the IRS claims is the correct tax over the amount the taxpayer ...