Please enable JavaScript.
Coggle requires JavaScript to display documents.
TAXES - Coggle Diagram
TAXES
Taxes must meet three criteria
simplicity
efficiency
equity
There are three categories of taxes
progressive
regressive
proportional
Taxes in the United States are based on two principles
benefit principle
ability-to-pay principle
Penalties for non-payment of taxes
civil penalties
criminal penalties
Taxes can be
direct
corporation tax
inheritance tax
indirect.
value-added tax
sales taxes
excise taxes
tariffs
The importance of the tax instrument
Legal methods to minimize tax burden
Determination of tax and taxation
Use of taxes by the government