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

Excise tax and its impact on manufacturing industry, excise tax and its imp...

excise tax and its impact on manufacturing industry with respect to demand and supply curves

Determinants of price elasticity, Discuss the determinants of price elastic...

Discuss the determinants of price elasticity of demand

What kind of price discrimination, Imagine an amusement park with a sole at...

Imagine an amusement park with a sole attraction: a roller coaster. For simplicity, the cost of providing a ride is zero. There is a single consumer with demand for rides on the ro

Marris Model, Explaination of the Marris Model

Explaination of the Marris Model

Costs of economic growth, Costs of Economic Growth (Increase in National In...

Costs of Economic Growth (Increase in National Income) 1.     People living in industrial towns suffer from the effects of a polluted atmosphere. 2.     The manufacture of

Methods of demand forecast which rely on quantitative data, Methods which r...

Methods which rely on quantitative data: Rule-based forecasting Data mining Quantitative analogies Discrete event simulation Neural networks Extrapo

Explain about frequency domain, Q. Explain about Frequency domain? Fre...

Q. Explain about Frequency domain? Frequency domain:   Frequency domain is a term which is used to elucidate the domain for analysis of mathematical signals or functions with

Advantages of indirect taxes, Advantages a. They are less costly to ...

Advantages a. They are less costly to administer because the producers and sellers themselves deposit them with the government. b. If levied on goods with inelastic deman

Characteristics of oligopoly, Oligopoly can be characterized as follows: ...

Oligopoly can be characterized as follows: Small Number of Sellers: There are more than one sellers of a product though; the number isn't so huge in order to produce perfect

Managerial economic, gap between economic theory and business practice

gap between economic theory and business practice

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