Asked by Katherine Fortune on Apr 25, 2024
If all taxpayers pay the same percentage of income in taxes, the tax system is progressive.
Progressive
A term often used to describe a tax system in which the tax rate increases as the taxable amount or income increases.
Tax System
The comprehensive set of laws and regulations governing the collection of taxes by the government from individuals and businesses.
- Understand the key principles of taxation and their effect on achieving an equitable and effective tax system.
Learning Objectives
- Understand the key principles of taxation and their effect on achieving an equitable and effective tax system.