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theories of taxation ppt

Uploaded by. Nicole Shaffi. READ PAPER. 2015/2016 Introduction to Taxation “Taxes are the price we pay for a civilized society.” - Oliver Wendell Holmes, Jr. In this article we will discuss about the principles of taxation. Theory 1038 3.3. Academic year. Clipping is a handy way to collect important slides you want to go back to later. Richard W. Tresch, in Public Finance (Third Edition), 2015. SOURCES OF PUBLIC FINANCE. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. A tax is a compulsory payment made by individuals and companies to the govern­ment on the basis of certain well-established rules or criteria such as income earned, property owned, capital gains made or expenditure incurred (money spent) on domestic and imported articles. The University of Dodoma 1 THEORIES OF TAXATION Tax or taxation is a compulsory contribution to the state revenue, levied by the government on personal income and business profits or added to the cost of some goods, services and transactions, at fixed rate mostly proportionate to the amount on which the contribution is levied 1. All tax laws should conform to the Maxims of Taxation EQUITY 1. TAXATION Canons/Principles of Taxation By Adam Smith: Adam smith, the father of modem political economy, has laid down four principles or cannons of taxation in his famous book "Wealth of Nations". 1 0 Theories of taxation-2. Now customize the name of a clipboard to store your clips. If you continue browsing the site, you agree to the use of cookies on this website. Taxes and production 1058 3.7. Applied policy models 1046 3.4. A theory of taxation that holds that citizens should bear tax burdens in line with their ability to pay. Remove this presentation Flag as Inappropriate I Don't Like This I like this Remember as a Favorite. Several theories of taxation exist in public economics.Governments at all levels (national, regional and local) need to raise revenue from a variety of sources to finance public-sector expenditures.. Adam Smith in The Wealth of Nations (1776) wrote: "Such things as defending the country and maintaining the institutions of good government are of general benefit to the public. Taxation principles and theories | taxation in the united states. Taxation is a means whereby the state collects funds to pay for public services. (1) Proportional Tax (Flat Tax): A proportional tax is a tax whose burden is the same rate regardless of the income earned by the household. CONCEPTS OF TAXATION AND INCOME TAXATION. Ppt chapter 16 capital structure theory and taxes 1. Ability To Pay Principle - Continued Regressive tax (Page 379 in text. Taxation in Theory and Practice. Download Full PDF Package. Meade, The Meade Report on the Structure and Reform of Direct Taxation (London: George Allen & Unwin for the Institute of Fiscal Studies, 1978). 1. THE PURE THEOEY OF TAXATION The theory of the inciilence of taxation . Looks like you’ve clipped this slide to already. The least-sacrifice theory, on the other hand, is a group theory of taxation. Dynamic assumptions 1054 3.6. See our User Agreement and Privacy Policy. Taxes are levied in almost every country of the world, primarily to raise revenue for government expenditures, although they serve other purposes as well. This result is expected because for South Africa, the incentive to take advantage of the tax shields could have been mitigated by the declining tax … Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. • Ad Valorem tax is proportional to the value of the unit, it is a percentage tax rate. So, in view of the growing tax burden and the increasing use of taxes as a tool for social and fiscal control, let us further review the new theories and modern prob­lems of taxation… Now customize the name of a clipboard to store your clips. Theories of taxation wikipedia. so judiciously, by tax-gatherers or others. This paper. You can change your ad preferences anytime. The taxation of income and profits 1060 3.8. Looks like you’ve clipped this slide to already. A short summary of this paper. Download PDF. E.g. He Download Share THEORIES OF TAXATION. The theory of income taxation ppt download. is an integral part of the general theory of Y~~u~."--~~ARsH.~LL. Actions. IN ECONOMY WHY DO WE NEED TAXATION? Download full pdf. If the sofa price is reduced to $200, the tax will be only $12. Ciku Nderitu. The most important source of government revenue is tax. Taxation - Taxation - History of taxation: Although views on what is appropriate in tax policy influence the choice and structure of tax codes, patterns of taxation throughout history can be explained largely by administrative considerations. Introduction The theory of excess burden and optimal commodity taxation is one of the oldest subjects of study in public finance, dating back to Dupuit (1844), and yet is also Indirect taxation 1066 3.9. TAXATION 1. The PPT covers oil and gas taxation. Keynesian Taxation Theory. TAXATION CONCEPTS OF TAXATION AND INCOME TAXATION 2. For example, because imported products are easier to tax than domestic output, import duties were among the earliest taxes. The tax side and the expenditure side are viewed separately. • PRICE- for supply of goods & services eg supply of gas, … . Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. If you continue browsing the site, you agree to the use of cookies on this website. Taxation is the earliest and most prevalent form of government inter­ference with the economic life of individuals and business enter­prises. Taxation, imposition of compulsory levies on individuals or entities by governments. The taxation of agriculture 1071 4.1. Ability-to-pay taxation. theory, Negash (2002: 25) reports a negative association between tax rate variables and debt for 64 firms listed on the JSE‟s industrial sector. The Adobe Flash plugin is needed to view this content. Second-Best Tax Theory. HI6028 Taxation Theory, Practice and the Law Lecture 2 Summarising this session By the end of this lecture, you should be 1. This paper. Module. A tax can either be proportional, progressive or regressive. Download PDF. University of Sheffield. . Customer Code: Creating a Company Customers Love, Be A Great Product Leader (Amplify, Oct 2019), Trillion Dollar Coach Book (Bill Campbell), No public clipboards found for this slide. These theories of taxation may, accordingly, be classified as individual theories. THEORIES OF TAXATION. View HI6028 - Lecture 2 2019 (2).ppt from HI 6028 at Holmes Colleges Sydney. DEFINITION OF TAXATION It is the process by which the sovereign, through its lawmaking body, raises revenues used to defray expenses of government It is a way of the government in increasing its revenue under the authority of the law, purposely used to promote welfare and protection of its citizenry It is … Download Free PPT. The pure theory of taxation f. Y. Edgeworth the economic journal. THEscience of taxation coillprises two subjects to which the character of pure theory may be ascribed : the laws of incidence, and the principle of equal sacrifice. 6% sales tax on a $400 sofa is $24. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Next to the opinion that taxation is no burden, comes the theory that in this country our taxation is so excessive that we cmt-not enter into competition with foreign nations, and, therefore* that the principles of free trade do not apply to a country heavily taxed. Unfortunately, such an ideal tax system is rarely observed in the real world. J.E. Taxation refers to the act of levying or imposing a tax by a taxing authority. Modigliani and miller's capital structure theories. like blood which acts as a support to every human organ so it could perform every duty inside the body, tax acts as the blood which supports government and state. Ability-to-pay taxation. The right of the chief authority to collect taxes, and the general policy which determines who is to be taxed, how much the tax … together, the taxation of wealth transfers under any guise is qualitatively distinct from the taxation of wealth holdings, the latter having been examined in subsection 9.B.2 as a species of capital income taxation.2 1 On the use of such tax base defi nitions as if they were normative principles, see … Taxation is a financial charge imposed on people. STATE NEEDS MORE & MORE RESROUCES SOURCES OF PUBLIC FINANCE • TAX – COMPULSORY payment based on income/profits. PPT – Theory Guest Lecture 9 Taxation PowerPoint presentation | free to view - id: f1817-ZDc1Z. License fee, registration fee. • FEE-payment made to the government by a person in exchange of a service. The pro­gressive income tax is an expres­sion of this belief, as are current discussions of a guaranteed an­nual income for all. It is the most important tax in Nigeria in terms of its share of total revenue contributing 95 and 70 percent of foreign exchange earnings and government revenue, respectively. A short summary of this paper. Download Free PDF. A number of theories have been put forward by different economists explaining how justice in taxation can be achieved among which the following are important theories of taxation and are discussed as follows : Benefit Theory of Taxation Get the plugin now. These principles are still considered to be the starting point of sound public finance. Sacrifice theory. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. ROLE OF TAXATION. both theories is the distribution of the tax burden among individuals possessed of varying incomes. Google Scholar R. Musgrave and P. Musgrave, Public Finance in Theory and Practice, (New York: McGraw-Hill, 1989). Some simple guiding principles 1069 4. The allocational theory of taxation, which analyzes the welfare losses caused by distorting taxes, dates from the very beginning of public sector economics.It has, by its very nature, always been part of the theory of the second best. Characteristics of Canons of Taxation: A good (may be a near-ideal) tax system has to fulfil the following characteristics: i. . The main theories or principles in brief, are: (i) Benefit Theory: According to this theory, the state should levy taxes on individuals according to the benefit conferred on them. You can change your ad preferences anytime. For example under a proportional tax system, if the income tax rate is 13%, then a household who earns $10,000 will pay 13% Ashiri Miyoga. Capital. But a tax authority must go on maintaining relentlessly the above canons of taxation so that a near- ideal tax structure can be built-up. See our User Agreement and Privacy Policy. 3.2. The initiator of the Keynesian taxation theory was John Keynes, who exposed its main principles in his book “The General Theory of Employment, Interest and Money,” in which he advocated state interventions in the processes of market economy regulation.According to Keynes, fast economic development must be based on a market expansion … Things to be considered in choosing a topic for research, Reading Comprehension (Language Curriculum), Remedial English (Teaching Sight Vocabulary), No public clipboards found for this slide. Taxes include income, capital gains, or estate. “ LIFEBLOOD THEORY” THEORY OF TAXATION 6. Capital structure theory modigliani and miller (mm) approach. University. The general theory of reform and shadow prices 1051 3.5. Clipping is a handy way to collect important slides you want to go back to later. MAJURA Ibrahim W.,- LL.B. 37 Full PDFs related to this paper. The economists have put forward many theories or principles of taxation at different times to guide the state as to how justice or equity in taxation can be achieved.

  • Inherent power of the sovereign,
  • exercised thru the legislature,
  • to impose burdens upon the subject and object within its jurisdiction,
  • for the purpose of raising revenues to carry out the legitimate objectives of the government. Theories of Taxation which the government adopts should be equitable so that tax avoidance is decreased. Taxation - In - Theory - and - Practice - Lecture notes, lectures 1 - 10. Learn more about taxation in this article. If you continue browsing the site, you agree to the use of cookies on this website. THE THEORY OF EXCESS BURDEN AND OPTIMAL TAXATION ALAN J. AUERBACH* University of Pennsylvania, Philadelphia, PA National Bureau of Economic Research, Cambridge, MA 1. It is also known as the insurance theory or the Quid Pro quo theory of taxation. If you continue browsing the site, you agree to the use of cookies on this website. . Download Full PDF Package. THEORIES OF TAXATION. Nwezeaku (2005) stated that petroleum profit tax involves the charging of tax on the incomes accruing from petroleum operations. Least sacrifice is interpreted in the group sense. Download. Result: Whether a tax is levied as a specific tax or an ad valorem tax does not affect See our Privacy Policy and User Agreement for details. really . Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. See our Privacy Policy and User Agreement for details. ): A tax whose burden, expressed as a percentage of income, falls as income increases. . Observed in the united states and the expenditure side are viewed separately SOURCES of public.! Sources of public Finance ( Third Edition ), 2015 agree to the use of cookies this! The following characteristics: I, you agree to the government by a taxing authority to you... Relevant ads capital gains, or estate - 10 cookies to improve functionality and performance, and show. 2019 ( 2 ).ppt from HI 6028 at Holmes Colleges Sydney for details income tax is an integral of! The starting point of sound public Finance taxes include income, capital gains or... 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