Title: Regressive Tax (Definition,Types) | How this System Work?
Headings: Regressive Tax
Regressive Tax
Regressive Tax Definition
Example of Regressive Tax System
Types of Taxes used for Regressive Taxes
#1 – Sales tax
#2 – Property tax/ Revenue tax:
#3 – Excise tax:
#4 – Tariff:
#5 – Precious metals and Ornamental tax:
#6 – Taxes on lottery and Gambling:
Advantages
Disadvantages
Conclusion
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Content: Regressive Tax (Definition,Types) | How this System Work? Home » Accounting Resources » Tax Resources » Regressive Tax
Regressive Tax
Article by Madhuri Thakur
Reviewed by Dheeraj Vaidya, CFA, FRM
Regressive Tax Definition
Regressive tax refers to the system of the taxation under which all of the persons in the country are taxed at the same rate without giving the consideration to the income level of those persons due to which greater percentage of the income of the low-income group is charged as tax when compared with the high-income group in same country. It is a simple type of tax system to calculate tax, which is levied on all the citizens of the country irrespective of their income. Here every citizen should pay the same amount of tax. It is called regressive because the higher income group pays less tax than the lower income group people. The major part of the income is paid as a tax by the lower-income citizens. This type of tax is mostly not levied on the income tax. You are free to use this image on your website, templates etc, Please provide us with an attribution link
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