Proportional Tax – NBC Institute

TAX – May 2019 – L2 – Q7a – Introduction to Taxation

Explain key tax terminologies to help Mr. Adele understand business-related taxes.

Question

Mr. Adele has just retired from the public service and is trying to venture into business. He is, however, concerned about the taxes that may affect his new business. As the tax consultant to Mr. Adele, he wants you to explain some terminologies to enable him to have a better understanding of them.

Required:

Explain the following:

(i) Proportional tax and progressive tax (2 Marks)
(ii) Direct tax and indirect tax (2 Marks)
(iii) Statute laws and case laws (2 Marks)
(iv) Franked investment income (3 Marks)
(v) Taxes collectible by local governments (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Case Law, Direct Tax, Franked Investment Income, Indirect Tax, Local Government Taxes, Progressive Tax, Proportional Tax, Statute Law
Level: Level 2

Topic: Introduction to Taxation, The Nigerian Tax System
Series: MAY 2019

PT – Mar 2024 – L2 – Q1b – Overview of the Ghanaian Tax System and Fiscal Policy

Explain the features that distinguish progressive, proportional, and regressive taxes.

Question

A tax may be described in a number of ways based on the relationship between income earned by a person and the tax rate applicable to that income. Again, an important feature of a tax system is the percentage of the tax burden relative to income or consumption, thus, the terms progressive, proportional, and regressive are used to describe the way the rate of tax progresses from low to high; from high to low or proportionally.

Required:
In relation to the scenario above, explain progressive, proportional, and regressive taxes, stating the main features that distinguish them. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Income Tax, Progressive Tax, Proportional Tax, Regressive Tax, Tax Types
Level: Level 2

Topic: Overview of the Ghanaian Tax System and Fiscal Policy
Series: MAR 2024

TAX – May 2019 – L2 – Q7a – Introduction to Taxation

Explain key tax terminologies to help Mr. Adele understand business-related taxes.

Question

Required:

Explain the following:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Case Law, Direct Tax, Franked Investment Income, Indirect Tax, Local Government Taxes, Progressive Tax, Proportional Tax, Statute Law
Level: Level 2

Topic: Introduction to Taxation, The Nigerian Tax System
Series: MAY 2019

PT – Mar 2024 – L2 – Q1b – Overview of the Ghanaian Tax System and Fiscal Policy

Explain the features that distinguish progressive, proportional, and regressive taxes.

Question

Required:
In relation to the scenario above, explain progressive, proportional, and regressive taxes, stating the main features that distinguish them. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Income Tax, Progressive Tax, Proportional Tax, Regressive Tax, Tax Types
Level: Level 2

Topic: Overview of the Ghanaian Tax System and Fiscal Policy
Series: MAR 2024

Question Tag: Proportional Tax

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

TAX – May 2019 – L2 – Q7a – Introduction to Taxation

Explain key tax terminologies to help Mr. Adele understand business-related taxes.

PT – Mar 2024 – L2 – Q1b – Overview of the Ghanaian Tax System and Fiscal Policy

Explain the features that distinguish progressive, proportional, and regressive taxes.

TAX – May 2019 – L2 – Q7a – Introduction to Taxation

Explain key tax terminologies to help Mr. Adele understand business-related taxes.

PT – Mar 2024 – L2 – Q1b – Overview of the Ghanaian Tax System and Fiscal Policy

Explain the features that distinguish progressive, proportional, and regressive taxes.

Our offerings

Contact Info

Customer

Get In Touch

Question Tag: Proportional Tax

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

TAX – May 2019 – L2 – Q7a – Introduction to Taxation

Explain key tax terminologies to help Mr. Adele understand business-related taxes.

You're reporting an error for "TAX – May 2019 – L2 – Q7a – Introduction to Taxation"

PT – Mar 2024 – L2 – Q1b – Overview of the Ghanaian Tax System and Fiscal Policy

Explain the features that distinguish progressive, proportional, and regressive taxes.

You're reporting an error for "PT – Mar 2024 – L2 – Q1b – Overview of the Ghanaian Tax System and Fiscal Policy"

TAX – May 2019 – L2 – Q7a – Introduction to Taxation

Explain key tax terminologies to help Mr. Adele understand business-related taxes.

You're reporting an error for "TAX – May 2019 – L2 – Q7a – Introduction to Taxation"

PT – Mar 2024 – L2 – Q1b – Overview of the Ghanaian Tax System and Fiscal Policy

Explain the features that distinguish progressive, proportional, and regressive taxes.

You're reporting an error for "PT – Mar 2024 – L2 – Q1b – Overview of the Ghanaian Tax System and Fiscal Policy"

Our offerings

Contact Info

Customer

Get In Touch

admin