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

State the meaning of managerial economics, State the Meaning of managerial ...

State the Meaning of managerial economics Managerial economics, used synonymously with business economics, is a study of economics that deals with the application of microecono

Brief note, principles of time perspectives

principles of time perspectives

Policies to cure balance of payment deficits, Policies to cure Balance of P...

Policies to cure Balance of Payment deficits The measures available to tackle balance of payments deficits include short term measures such as deflation, import controls, dev

Explain systematic failures of government, Question 1: (a) How do econ...

Question 1: (a) How do economists go about studying the economics of the public sector? Describe the four stages of analysis. (b) What are the main reasons explaining syst

Costs of unemploment and inflation, COSTS OF UNEMPLOMENT AND INFLATION   ...

COSTS OF UNEMPLOMENT AND INFLATION   In  an  economy  both  unemployment  and  inflation  have  adverse effects  and policy makers  formulate policy instruments to contain both

How government intervenes to improve allocation of resources, Problem 1: ...

Problem 1: You are the manager of a reputed five star hotel in Mauritius and you have been asked by the director of the hotel to advise on possible pricing strategies to increa

Describe how commercial banks determine their output, (a) Describe how comm...

(a) Describe how commercial banks determine their output, interest rates and profit levels assuming they act as oligopolies. (b) To what extent is the above statement a reality

At what price will demand for product be unitary elastic, Suppose you have ...

Suppose you have estimated the following demand function for the product you sell: Q = 5 - 0.2P At what price will the demand for your product be unitary elastic? (Hint: B

Direct action, Direct Action Direct action in more than one from has be...

Direct Action Direct action in more than one from has been employed by the central banks either as an alternative to their discount rate policy or open market operations or tog

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