Government Income
Activity 12 1. What three essential functions does taxation fulfil?
2. What is the difference between the subject and the object of taxation? 3. Tere is no quid pro quo – a person paying tax might never use a service. Comment. 4. What is the difference between personal and real property?
5. Say whether the following are rebates, exemption or deductions: war veterans, fixed amount for all under certain age; pension fund contributions; medical expenses; travel expenses; salaries to certain officials; gratuities.
6. How is it possible that aſter a raise, someone may earn “less” than before? What is this called?
7. What is the difference between a domestic and a foreign company? 8. Payroll taxation is really seen as a type of ……………
9. What do they mean when they say that a turnover tax “is levied at each stage of the production/distribution line”?
10. What are rates and taxes? 11. In what instance is transfer duty not due? 12. How does a value-added tax differ from a general sales tax? 13. What does a vendor pay over to the SARS in the way of VAT?
14. What would the chief reason be for a government to impose import duties on certain goods?
15. How does a country dump goods onto another?
16. Excise duty is/is not levied as ad valorem – this makes is easy/difficult to monitor and collect.
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