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22 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Fiscal or revenue tax |
a tax imposed for general purpose |
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Regulatory |
a tax imposed to regulate business, conduct, acts or transactions |
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Sumptuary |
a tax levied to achieve some social or economic objectives |
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Personal, poll or capitation |
a tax on person who are residents of a particular territory |
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Property tax |
a tax on properties, real or personal |
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Excise or privilege tax |
a tax imposed upon the performance of an act, enjoyment of a privilege or engagement in an occupation |
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Direct tax |
both the impact and incidence of taxation rest upon the same taxpayer |
the tax is collected from the person who is intended to pay the same |
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Indirect tax |
tax is paid by any person other than the one who is intended to pay the same |
the statutory taxpayer is not the economic taxpayer |
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Specific tax |
a tax of a fixed amount imposed on a per unit basis |
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Ad valorem |
a tax of a fixed proportion imposed upon the value of the tax object |
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Proportional tax |
emphasizes equality as it subjects all taxpayers with the same rate without regard to their ability to pay |
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Progressive or graduated tax |
a tax which imposes increasing rates as the tax base increase |
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Regressive tax |
a tax imposes decreasing tax rates as the tax base increase |
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Mixed tax |
this tax manifest tax rates which is combination of any of the other types of tax |
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National tax |
tax imposed by the national government |
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Income tax |
tax on annual income, gains or profits |
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Estate tax |
tax on gratuitous transfer of properties by a living donor |
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Value Added Tax |
consumption tax collected by business taxpayers |
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Other percentage tax |
consumption tax collected by non-VAT business taxpayers |
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Excise tax |
tax on sin products and non-essential commodities |
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Documentary stamp tax |
a tax on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation, right or property incident thereto |
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Local tax |
tax imposed by the municipal or local government |
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