• PRICE- for supply of goods & services eg supply of gas, … Introduction to Taxation “Taxes are the price we pay for a civilized society.” - Oliver Wendell Holmes, Jr. Sacrifice theory. Unfortunately, such an ideal tax system is rarely observed in the real world. 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. In this article we will discuss about the principles of taxation. 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. If you continue browsing the site, you agree to the use of cookies on this website. It is also known as the insurance theory or the Quid Pro quo theory of taxation. Clipping is a handy way to collect important slides you want to go back to later. 1. . 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. THE THEORY OF EXCESS BURDEN AND OPTIMAL TAXATION ALAN J. AUERBACH* University of Pennsylvania, Philadelphia, PA National Bureau of Economic Research, Cambridge, MA 1. Least sacrifice is interpreted in the group sense. Remove this presentation Flag as Inappropriate I Don't Like This I like this Remember as a Favorite. ROLE OF TAXATION. Theory 1038 3.3. See our User Agreement and Privacy Policy. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Applied policy models 1046 3.4. Indirect taxation 1066 3.9. E.g. . The PPT covers oil and gas taxation. If the sofa price is reduced to $200, the tax will be only $12. . Taxation is a financial charge imposed on people. HI6028 Taxation Theory, Practice and the Law Lecture 2 Summarising this session By the end of this lecture, you should be THE PURE THEOEY OF TAXATION The theory of the inciilence of taxation . The most important source of government revenue is tax. 37 Full PDFs related to this paper. Looks like you’ve clipped this slide to already. The least-sacrifice theory, on the other hand, is a group theory of taxation. Now customize the name of a clipboard to store your clips. STATE NEEDS MORE & MORE RESROUCES SOURCES OF PUBLIC FINANCE • TAX – COMPULSORY payment based on income/profits. Theories of Taxation which the government adopts should be equitable so that tax avoidance is decreased. The taxation of agriculture 1071 4.1. 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. 2015/2016 Taxation - In - Theory - and - Practice - Lecture notes, lectures 1 - 10. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. Module. A short summary of this paper. Nicole Shaffi. The right of the chief authority to collect taxes, and the general policy which determines who is to be taxed, how much the tax … 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 … 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 … 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. . The taxation of income and profits 1060 3.8. For example under a proportional tax system, if the income tax rate is 13%, then a household who earns $10,000 will pay 13% 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. This paper. This paper. License fee, registration fee. Ciku Nderitu. 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. MAJURA Ibrahim W.,- LL.B. 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 … Download Share Taxes and production 1058 3.7. Taxes include income, capital gains, or estate. Looks like you’ve clipped this slide to already. 6% sales tax on a $400 sofa is $24. 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