MAJURA Ibrahim W.,- LL.B. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. Modigliani and miller's capital structure theories. Actions. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. THEscience of taxation coillprises two subjects to which the character of pure theory may be ascribed : the laws of incidence, and the principle of equal sacrifice. The pure theory of taxation f. Y. Edgeworth the economic journal. If you continue browsing the site, you agree to the use of cookies on this website. theory, Negash (2002: 25) reports a negative association between tax rate variables and debt for 64 firms listed on the JSE‟s industrial sector. Google Scholar R. Musgrave and P. Musgrave, Public Finance in Theory and Practice, (New York: McGraw-Hill, 1989). This result is expected because for South Africa, the incentive to take advantage of the tax shields could have been mitigated by the declining tax … Characteristics of Canons of Taxation: A good (may be a near-ideal) tax system has to fulfil the following characteristics: i. Canons/Principles of Taxation By Adam Smith: Adam smith, the father of modem political economy, has laid down four principles or cannons of taxation in his famous book "Wealth of Nations". Download Share For example under a proportional tax system, if the income tax rate is 13%, then a household who earns $10,000 will pay 13% STATE NEEDS MORE & MORE RESROUCES SOURCES OF PUBLIC FINANCE • TAX – COMPULSORY payment based on income/profits. Indirect taxation 1066 3.9. Download Free PDF. 1. A theory of taxation that holds that citizens should bear tax burdens in line with their ability to pay. THEORIES OF TAXATION. 37 Full PDFs related to this paper. so judiciously, by tax-gatherers or others. This paper. A number of theories have been put forward by different economists explaining how justice in taxation can be achieved among which the following are important theories of taxation and are discussed as follows : Benefit Theory of Taxation Learn more about taxation in this article. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. The economists have put forward many theories or principles of taxation at different times to guide the state as to how justice or equity in taxation can be achieved. Taxes and production 1058 3.7. CONCEPTS OF TAXATION AND INCOME TAXATION. If you continue browsing the site, you agree to the use of cookies on this website. The taxation of income and profits 1060 3.8. Get the plugin now. The PPT covers oil and gas taxation. Download full pdf. The initiator of the Keynesian taxation theory was John Keynes, who exposed its main principles in his book “The General Theory of Employment, Interest and Money,” in which he advocated state interventions in the processes of market economy regulation.According to Keynes, fast economic development must be based on a market expansion … Applied policy models 1046 3.4. Customer Code: Creating a Company Customers Love, Be A Great Product Leader (Amplify, Oct 2019), Trillion Dollar Coach Book (Bill Campbell), No public clipboards found for this slide. Academic year. You can change your ad preferences anytime. See our User Agreement and Privacy Policy. Uploaded by. . HI6028 Taxation Theory, Practice and the Law Lecture 2 Summarising this session By the end of this lecture, you should be like blood which acts as a support to every human organ so it could perform every duty inside the body, tax acts as the blood which supports government and state. Ppt chapter 16 capital structure theory and taxes 1. Download. He If you continue browsing the site, you agree to the use of cookies on this website. The main theories or principles in brief, are: (i) Benefit Theory: According to this theory, the state should levy taxes on individuals according to the benefit conferred on them. Nwezeaku (2005) stated that petroleum profit tax involves the charging of tax on the incomes accruing from petroleum operations. View HI6028 - Lecture 2 2019 (2).ppt from HI 6028 at Holmes Colleges Sydney. All tax laws should conform to the Maxims of Taxation EQUITY 1. Ciku Nderitu. It is the most important tax in Nigeria in terms of its share of total revenue contributing 95 and 70 percent of foreign exchange earnings and government revenue, respectively. E.g. Richard W. Tresch, in Public Finance (Third Edition), 2015. Theories of Taxation which the government adopts should be equitable so that tax avoidance is decreased. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Least sacrifice is interpreted in the group sense. The allocational theory of taxation, which analyzes the welfare losses caused by distorting taxes, dates from the very beginning of public sector economics.It has, by its very nature, always been part of the theory of the second best. 6% sales tax on a $400 sofa is $24. SOURCES OF PUBLIC FINANCE. 1 0 Theories of taxation-2. A tax is a compulsory payment made by individuals and companies to the govern­ment on the basis of certain well-established rules or criteria such as income earned, property owned, capital gains made or expenditure incurred (money spent) on domestic and imported articles. 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