Taxation Flashcards
1
Q
Who collects taxes in Ireland
A
The office of the revenue commissioners
2
Q
What are direct taxes
A
Taxes in income
3
Q
What are indirect taxes
A
Taxes on expenditure
4
Q
What does “progressive tax” mean
A
Tax rate increases as income increases
5
Q
What does “regressive tax” mean
A
Tax rate increases as income decreases
6
Q
How do self-employed people pay tax?
A
Through self-assessment
7
Q
What is tax evasion?
A
When an individual/organisation deliberately underpays or doesn’t pay the tax they owe (illegal)
8
Q
What is tax avoidance?
A
When an individual/organisation minimises the amount of tax they have to pay (not illegal)
