B.e. Taxation Defined Terms

Front 1

Inherent Power

Back 1

Means existing as a natural or basic part of every sovereign State, without being conferred or granted by the people or the Constitution

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Taxes

Back 2

Are enforced proportional contributions from persons and property, levied by the State by virtue of its sovereignty for the support of the government and for all its public needs

Front 3

Personal, Poll or Capitation Tax

Back 3

Tax of a fixed amount imposed upon individual, whether citizens or not, residing within a specified territory without regard to their property or the occupation in which he may be engaged

Front 4

Property Tax

Back 4

Tax imposed on property, whether real or personal, in proportion either to its value, or in accordance with some other reasonable method of apportionment

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Excise Tax

Back 5

Any tax which does not fall within the classification of a poll tax or a property tax

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Excise Tax

Back 6

Tax on the exercise of certain rights and privileges

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Specific Tax

Back 7

This is a fixed amount based on volume, weight or quantity of goods as measured by tools, instruments or standards

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Ad Valorem Tax

Back 8

This imposition is based on the value of property subject to tax

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Fiscal/General/Revenue Tax

Back 9

Levied without a specific or pre-determined purpose

Front 10

Regulatory/Special/Sumptuary Tax

Back 10

Tax intended to achieve some social or economic goals

Front 11

Proportional/Flat Rate Tax

Back 11

The with unitary or single rate

Front 12

Progressive/Graduated Tax

Back 12

Tax wherein as the tax base grows, the tax rate increases

Front 13

Regressive Tax

Back 13

Tax wherein the tax rate increases as the tax base decreases

Front 14

Incidence

Back 14

Point at which tax burden finally rests or settles down