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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.
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what is market
Q. Show the importance of Demand forecast? Demand forecast for a particular commodity furthermore offers recommendations for demand forecast of associated industries. For exam
Assignment
An Economy consists of two regions, the North & the South. The short-run elasticity of labor demand in every region is -0.5. Labor supply is perfectly inelastic within both regions
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