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AC2115
Lecture 1
| Term | Definition |
|---|---|
| 6 types of Tax | Income Tax Corporation Tax Capital Gains Tax Capital Acquiitions Tax Stamp Duty Value Added Tax |
| Why tax? Gov Resp | Provide goods & services Promotion of social and economic welfare Single European Market Redistribution of income & wealth Regulation Economic Stability |
| Aims of tax system | Raising Revenue Redistribution of income & wealth Instrument of economic and social policy |
| Principals of Tax | Equity Efficiency Certainty Convenience |
| Revenue Commissioners | Assessment, collection and management of taxes and duties Implementation of import and export controls |
| Irish Government Objectives | Social, Economic and Environmental |
| Dept. of Finance objectives | Advises and supports the minister Implements Tax Policy Public Sector management |
| Important Tax distinctions | Tax Compliance Tax Planning Tax Avoidance Tax Evasion |