Economics 3366A/B Study Guide - Quiz Guide: Tax, Pension Fund, Progressive Tax
24 Sep 2020
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The definition of tax and principles of income taxation. Understand the general principles of income and business taxation. Intro to tax issues faced by taxpayers + gov both domestically and cross border situations. Broad introduction of tax-related legal issues to students who wish to pursue further education in tax matters. Groups which will act as a panel of arbitrators and debating teams. Written + oral phase 10% of final grade. Written exam consist of questions related to the cases. The main characteristics of a tax (4 elements) Obligation to pay required from taxpayers without their individual consent. Taxpayer receives nothing in return but gov uses the funds raided in taxes to provide for goods or services to the community as a whole. Just bc you pay taxes today doesn"t mean anything is promised tomorrow -> no guarantee you will be paid back. Compulsory but requited payments the taxpayer receives something in return for the payment.
