Page 25 - F1 Integrated Workbook STUDENT 2018

Features of Taxation and the Regulatory Environment

Indirect taxes

Indirect tax – Imposed on one part of the
economy with the intention to pass on burden.

Consumption Property & Ad valorum Excise duties
taxes Wealth taxes
Type of unit
Added to taxes This is a tax tax used to
purchase based on the discourage
price Most value of the over-
countries tax items, e.g.

Can be single land and consumption,
sales tax pay for
stage or multi buildings but healthcare or
stage (VAT, be aware of to tax luxury
Cascade Tax) cars/boats
etc. products

Wealth can
include
pension

funds,
insurance
policies and
works of art.

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