CPA - PUBLIC FINANCE & TAXATION - INTRODUCTION TO TAXATION - LESSON 1

Описание: In This CPA Lesson, You Will Master:
Definition of Key Terms: Clearly define Tax, Taxation, and Public Finance and their relationship in the economy.

Grasp the difference between tax evasion (illegal) and tax avoidance (legal).

Purposes of Taxation: Explore the main reasons governments levy taxes, beyond just revenue collection.

Discuss the economic, social, and regulatory objectives of taxation (e.g., income redistribution, controlling consumption).

Principles of an Optimal Tax System: Learn the Canons of Taxation (e.g., Adam Smith's canons of equality, certainty, convenience, and economy) and modern principles.

Understand the qualities of a good tax system that promotes fairness and efficiency.

Types and Classification of Taxes: Differentiate between Direct (Income Tax) and Indirect (VAT, Excise Duty) taxes.

Analyze progressive, regressive, and proportional tax systems.

Taxable Capacity & Tax Shifting: Introduce the concept of taxable capacity and examine how the burden of tax can be shifted from the initial payer to the final consumer (tax incidence).

This foundational knowledge is crucial for successfully tackling the computational and policy-based questions in the Public Finance and Taxation paper.

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