Progressive tax, Managerial Economics

Assignment Help:

PROGRESSIVE TAX

A progressive income tax system is one where the higher the income, the greater the proportion paid in taxes.  This is effected by dividing the taxpayers' incomes into bands (brackets) upon which different rates of tax are paid - the rates being higher and the band of income.  For example, in Kenya, the bands are as follows:

 Monthly Tax Rates

Income Bracket                             Tax

(K£ per month)                (Kshs per Kshs 20)

1 - 325                                      2

326 - 650                                   3

651 - 975                                   4

976 - 1300                                 7

1301 - 1625                                7

excess over 1625                         7.50

Examples of Progressive taxes in Kenya are Income Tax, Estate Duty, Wealth Tax and Gift Tax.


Related Discussions:- Progressive tax

Find out lowest efficiency wage and value , A risk-neutral agent's working ...

A risk-neutral agent's working life has two periods. In each period, the agent can provide high effort (at personal cost $2,000) or low effort (at zero personal cost). In a given p

The individual and market demand curves, The individual and market demand c...

The individual and market demand curves The quantities and prices in the demand schedule can be plotted on a graph. Such a graph after the individual demand schedule is called

Price under monopoly, The aim of monopolist is to maximise profit therefore...

The aim of monopolist is to maximise profit therefore; he would produce that level of output and charge that price which gives him maximum profits. He would be in equilibrium at th

Discounting principle, Using the discounting principle calculate the presen...

Using the discounting principle calculate the present value of an annuity of five years at Rs. 500 payments made at the end of each of the next five years at 10% interest. stion..

The international monetary fund, The International Monetary Fund The I...

The International Monetary Fund The International Monetary Fund is a kind of an embryo World Central Bank.  Its objectives are: i.    To work towards the full convertibilit

Term paper, I have a research paper that is due, my schedule is so full tha...

I have a research paper that is due, my schedule is so full that I need assistance due to overload are you interested in the research paper? course - managerial economics TEXT: Man

Show the importance of demand forecast, Q. Show the importance of Demand f...

Q. Show the importance of Demand forecast? Demand forecast for a particular commodity furthermore offers recommendations for demand forecast of associated industries. For exam

Demand forecasting, how sample size technique is helpful in demand forecast...

how sample size technique is helpful in demand forecasting of a particular product?

Determinants of demand, Determinants of Demand Price elasticity of dema...

Determinants of Demand Price elasticity of demand fluctuates from commodity to commodity. Whereas the demand of some commodities is highly elastic, demand for others is highly

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd