TYPE OF TAXES Flashcards
A consumption tax collected by non-VAT businesses
Other Percentage Tax
tax on gratuitous transfer of property by a living donor
Donor’s Tax
tax that decreases in rates as the amount or value of the tax object increases
Regressive Tax
tax collected upon persons who are not the statutory taxpayers
Indirect Tax
tax that is imposed based on the value of the tax object
Ad Valorem
tax imposed by the national government
National Tax
a tax in a sin products or non-essential commodities
Excise Tax
imposed on the gratuitous transfer of property upon death
Estate Tax
tax on residents of the country
Community or Residency Tax
tax that remains at flat rate regardless of the value of the tax object
Proportional Tax
tax which is collected on a per unit basis
Specific Tax
tax is collected upon the statutory taxpayer
Direct Tax
tax imposed to regulate businesses or professions
Regulatory Tax
tax upon performance of an act or enjoyment of a privilege
Privilege Tax
tax upon performance of an act or enjoyment of a privilege
Privilege or Excise Tax
