What are the main Systems of taxation

What are the main Systems of taxation

Taxation especially direct tax can be classified according to the following systems. These are:-

  • Progressive Tax: Progressive tax is a form of tax in which the rate of tax increases as the income, stock of wealth or value of property to be taxed increases. This type of tax is graduated in such a way that its rate arises according to the level of income or wealth of the tax payer.

People with higher income are taxed more heavily than those that receive low income. The tax burden increases with increasing income levels or as the amount of wealth possessed increases.

A good example of a progressive tax is Pay As You Earn (P.A.Y.E) system. Progressive tax is demonstrated by a graph

  • Proportional tax: A proportional tax is a form of tax in which the rate of tax is the same irrespective of the level of income or wealth, other words; it is a system of taxation in which payers pay the same percentage or proportion of their income (or wealth) as tax.

 A good example of proportional tax is the company tax in which companies are required to pay a fixed percentage of their profits as tax. Proportional tax is demonstrated by a graph

  • Regressive tax: Regressive tax is a tax system where the tax rate decreases as income increases.

 In this case, the higher the income of a consumer, the lower the rate of tax. In regressive tax, a poor person pays higher proportion of his income than a rich person. A good example of regressive tax is poll tax.

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WEED AND THEIR BOTANICAL NAMES
1. ENVIRONMENTAL FACTORS AFFECTING AGRICULTURAL PRODUCTION
2. DISEASES
3. 52. SOIL MICRO-ORGANISMS
4. ORGANIC MANURING
5. FARM YARD MANURE
6. HUMUS
7. COMPOST
8. CROP ROTATION
9. GRAZING AND OVER GRAZING
10. IRRIGATION AND DRAINAGE
11. IRRIGATION SYSTEMS
12. ORGANIC MANURING
13. FARM YARD MANURE
14. HUMUS
15. COMPOST
16. CROP ROTATION

  1. IRRIGATION AND DRAINAGE
    19. IRRIGATION SYSTEMS
    20. INCUBATORS
    21. MILKING MACHINE
    22. SIMPLE FARM TOOLS
    23. AGRICULTURAL MECHANIZATION
    24. THE CONCEPT OF MECHANIZATION
    25. PROBLEMS OF MECHANIZATION
    26. SURVEYING AND PLANNING OF FARMSTEAD
    27. IMPORTANCE OF FARM SURVEY
    28. SURVEY EQUIPMENT
    29. PRINCIPLES OF FARM OUTLAY
    30. SUMMARY OF FARM SURVEYING
    31. CROP HUSBANDRY PRACTICES
    32. PESTS AND DISEASE OF MAIZE- ZEA MAYS
    33. CULTIVATION OF MAIZE CROP
    34. OIL PALM
    35. USES OF PALM OIL
    36. MAINTENANCE OF PALM PLANTATION
    37. COCOA
    38.
    39. PROCESSES IN COCOA CULTIVATION
    HOLING AND LINING
    40. YAM
    41. LAND PREPARATION FOR YAM
    42. DEPT OF PLANTING
    43. SPACING OF YAM
    44. PLANTING DEPT OF YAM
    45. STORAGE OF YAM
    46. STAKING OF YAM
    47. HARVESTING OF YAM
    48. COWPEA
    JUTE
    49. FORAGE CROP AND PASTURE
    50. FORAGE GRASSES
    51. SILAGE
    52. PASTURE
    53. TYPES OF PASTURE
    COMMON GRASSES AND LEGUMES
    54. GRASSES
    55. LEGUMES
    56. ESTABLISHMENT OF PASTURES
    57. 201. FORAGE PRESERVATION
    58. HAY SILAGE
    59. FORESTRY IMPORTANCE OF FORESTRY 206. FOREST MANAGEMENT FOREST REGULATION DEFORESTATION AFFORESTATION
    60. DISEASES AND PESTS OF CROPS
    61. MAIZE SMUT
    62. RICE BLAST
    63. MAIZE RUST
    64. LEAF SPOT OF GROUNDNUT
    65. COW-PEA MOSAIC
    66. COCOA BLACK POD DISEASE

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