Assume you are a fresh graduate from UPSA with Public Finance as one of your specializations. You have been employed by the Ministry of Finance in your country. The government of your country is in the process of designing a better tax system in order to maximize revenue for accelerated economic development. a. Your superior has assigned you the task of assisting in designing the new tax system. Discuss what a good tax system would require and explain the specific economic challenges that affect taxation in your country. the 19b s in b. Explain two (2) major reasons why the incidence of taxation should be of paramoụnt importance to the Government. c. Discuss four (4) major recommendations you would offer a neigbouring country that is in the process of introducing VAT in their country. a

Q: 1. Suppose the marginal or bracket tax rate for income from $1 to $15,000 is 12%, the marginal tax…

A: A progressive tax is a tax/duty wherein the expense rate increments as the available income/taxable…

Q: 14. What is the agency responsible for collecting taxes at the O the Federal Tax Office the…

A: The agency responsible for collecting taxes at the federal level is the Internal Revenue Service.

Q: 11: Given the demand and supply system: Pb = 53 - 5 Qb & Pv = 3 + 2 Qv With a specific tax of T^ = 4…

A: Given; Demand function; Pb=53-5Qb Supply function; Pv=3+2Qv At equilibrium:-…

Q: State and explain the principles of taxation that would be used in designing and implementing any…

A: A taxation regime plays an important role in the economic development and economic growth of a…

Q: Suppose that a per-unit tax of 25 centavos per pack is placed on the sale of cigarettes by the…

A: 1. Burden of tax at D1 (Elastic demand): The price and quantity before tax is $1.30 and 5 units…

Q: Which of the following is a significant revenue source for state and local governments, but not the…

A: Taxes are the amount charged by the government for the services provided and are the means of…

Q: 1. Explain the concept of efficiccy loss in taxation.

A: Note: In the BNED Guidance, only the first question can be answered at a time. Resend the question…

Q: 1) There are 100 individuals where 80 of them are poor and builds the public, and 20 are rich elites…

A: Governments levy income taxes on enterprises and persons operating within their jurisdiction. Income…

Q: Explain briefly the three main purposes in exercising taxation power.

A: Taxation is defined as the power of accumulation of revenue and raiserevenue from the people to…

Q: The nation of Upstandia uses kroner for money and its tax code is such that a person making 100,000…

A: There three main tax systems in an economy – Proportional Tax, Progressive Tax and Regressive Tax.…

Q: QUESTION 3 Tax is a source of revenue to the government. The imposition of tax by the government is…

A: (a) National income = C+I+G yd= I-Tyd=$10-$20yd= -$10 millionY=C+I+GY=20+0.9(-10)…

Q: 5. Identify the author of "The principles of Political Economy and Taxation"

A: To find : Who is author of principle of political economy and taxation.

Q: Discuss the consequence of a rise in direct taxes to the economy as a whole

A: Taxes: The direct tax included the income tax that is levied on the income of an individual. Income…

Q: Explain the inherent limitation that the power of taxation is an inherently legislative function

A: When a taxing agency, generally a government, levies or imposes a financial burden on its residents…

Q: The fact that lower-income families will spend a higher percentage of their income on tangible goods…

A: Taxation system refers to the way of taxing the income of people by the state government or central…

Q: What kind of system does the U.S currently employ?

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 9. An uncapped dollar-for-dollar federal matching grant may be mor efficient than a federal block…

A: Uncapped means not covered as with a cap and matchings grants in the simplest terms are grants that…

Q: Which of the following is an example of a direct tax? Check all that apply. A tax placed directly on…

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: explain how government grants may crowd out fundraising by charities and private donations in the…

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: What is meant by a progressive tax? A regressive tax? A proportional tax? Comment on the…

A: Hey, Thank you for the question. According to our policy we can only answer up to 3 sub parts per…

Q: 3. Using diagrams, show the distribution of the tax burden on consumers and producers with i.…

A: The elasticity of demand is the reaction of demand due to change in price of goods and services,…

Q: The market demand for a product is Q = 290 - 7P, and the market supply is Q = -90 + 12P (where Q is…

A: Answer- "Thank you for submitting the question. But ,we are authorized to solve only 3 sun parts…

Q: Explain the types of tax liability in the Turkish Tax System by giving examples

A: The Turkish tax system is a vital component of the economy, and it is divided into three major…

Q: Which of the following is a significant revenue source for state and local governments, but not the…

A: The tax is a unilateral payment made by the public towards the government for various purposes. The…

Q: What is taxation and describe the evolution of philippine taxation and how does it affects to the…

A: Taxation differs from other forms of payment, such as market trades, in that it does not require…

Q: 23. Which of the following is an indirect tax? A tax on company profits consumer goods and services…

A: Tax refers to the payment made by a consumer or producer to the government of a nation. It is used…

Q: Within the context of taxation policy, many economists have preferred the use of consumption tax to…

A: The income tax is the tax that is levied on the income of the people directly. It is collected,…

Q: Figure 4-11 LAFFER CURVE 100 в Tax Revenue Refer to Figure 4-11. On the Laffer curve shown, tax…

A: The Laffer curve illustrates the relationship between the tax rate imposed by the government and the…

Q: Define Situs of Taxation.

A: Situs of taxation virtually means place of taxation the overall rule is that the taxing power cannot…

Q: Question: Solve for the equilibrium level of output in the following two scenarios: there isan…

A: Y=−5+0.5(Y−250−0.1Y)+200+300+50'

Q: 9. Which of the following is the most correct statement about tax burdens? а. A tax burden falls…

A: Price elasticity of demand refers to percentage change in quantity demanded with respect to…

Q: of a given activity. c) Economists refer to the revenue collected as a result of a tax as the burden…

A: In an economy, economists think that there are different types of tax burden when government imposes…

Q: Suppose taxes are related to income as follows: Income Taxes $1,000 $200 $2,000 $350 $3,000 $450 a.…

A:

Q: Define progressive tax.asap

A: We know that A tax refers to an amount imposed on the person, commodities or any other item to earn…

Q: 10. Which of the following best describes government revenue? a) Government programs designed to…

A: Government of a nation needs money to finance its spending.  Government has two sources of…

Q: the following information: QD= 240-5P QS= P Where QD is the quantity demand, QS is the quantity…

A: GIVEN,  QD=240-5PQS=P where QD is the quantity demand QS is the quantity supplied govt. imposes $12…

Q: 1. What is the relative importance of taxation to the economy of the country? Give at least three…

A: Since you have asked multiple questions, we are answering the first one for you. If you want the…

Q: of 30000$ The income tax in the country X is proportional and equals 2% The income tax in the…

A: The proportional income tax rate remains same for different incomes. The progressive income tax rate…

Q: 9. When a sales tax is imposed on sellers, we can imagine a hypothetical supply curve shifted to the…

A: In a market, when government imposes a tax, the tax incidence on buyers and sellers depends upon…

Q: 31) What are vertical equity and horizontal equity associated with? the benefits principle of…

A: Tax is a fee or a charge is imposed by the government on individuals and firms. Government receives…