Taxation

  • 13 Posts
  • 1 Sections
  • 1 Types
Ability to Pay
Public Finance Taxation
The tax principle that people with greater economic capacity should bear more of the tax burden.
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Accelerated Depreciation
Accounting Taxation
A tax or accounting method that allows larger depreciation deductions in the early years of an asset's life.
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Ad Valorem Tax
Taxation Public Finance
A tax charged as a percentage of the value or price of the item being taxed.
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Advance Corporation Tax
Taxation Corporate Finance
A former UK tax system under which companies paid tax when distributing dividends, with the payment credited against corporation tax.
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Arm's-Length Price
Taxation International Economics
The price unrelated parties would agree to under comparable market conditions.
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Average Tax Rate
Taxation Economics
Total tax paid divided by the total tax base.
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Avoidance
Taxation Economics
Lawful structuring of behavior or transactions to reduce tax liability.
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Base Erosion and Profit Shifting (BEPS)
Taxation International Economics
Tax-planning strategies that reduce taxable profit in higher-tax countries and shift it elsewhere.
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Basic Rate
Taxation Public Finance
In UK taxation, the basic rate is the standard marginal income-tax rate applied to taxable income within the basic-rate band.
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Before-Tax Income
Taxation Public Finance
Before-tax income is income received before direct taxes are deducted.
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Benefit Principle
Public Finance Taxation
The benefit principle says taxes or charges should, as far as possible, be paid by those who benefit from the public spending or service.
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Income Tax
Taxation Public Finance
A tax on labor and capital income used to fund government spending and shape distribution outcomes.
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Lump-Sum Tax
Taxation Public Finance
A fixed tax amount that does not depend on a taxpayer's choices; a benchmark for non-distortionary taxation.
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