Save
Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't know (0)
Remaining cards (0)
Know (0)
0:00
share
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Taxation

TermDefinition
Functions of Tax To finance government activities, Redistribution of national wealth, Automatic stabiliser,To achieve some economic objectives.
Canons of tax equitable, economical, certain, convenient.
Tax avoidance Is arranging one’s affairs within the law so as to minimise tax liabilities.
Tax evasion Is reducing tax liabilities by making false returns or not making any returns at all.
A progressive tax Takes a higher percentage of income from a person as that person’s taxable income increases, e.g. PAYE.
A regressive tax Takes a higher percentage of income from a low-income earner than from a high-income earner, e.g. VAT.
A proportional tax Takes a constant rate of tax from income as income rises.
Impact/Imposition of Taxation This refers to the individuals or companies on whom the tax is actually levied
Incidence of a Tax This refers to the people who bear the burden of the tax.
Direct tax Taxes on all forms of income, it is a progressive and equitable tax
Indirect tax Taxes on transactions, it is a regressive and inequitable tax
Capital Gains tax Is a tax on the profits from the sale of assets.
Stealth Tax A tax that it is largely unnoticed or not recognised as a tax e.g. water charges, household charge.
Tax Wedge The difference between the cost of an employee to their employer (wages + tax + prsi) and the take-home pay of the employee.
Created by: Calasanctius Eco
 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards