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    Classification of Taxes

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    minri721
    Taxes can be classified in several ways: 1. By subject matter as personal, property, or excise taxes. Personal taxes are fixed amounts on individuals. Property taxes are imposed on real or personal property based on value. Excise taxes are imposed on acts, privileges, occupations, professions, or businesses. 2. By who bears the burden as direct or indirect. Direct taxes are imposed and borne by the same person. Indirect taxes are imposed on taxpayers but shifted to another. 3. By determination of amount as specific or ad valorem. Specific taxes are based on physical units. Ad valorem taxes are a fixed proportion of value.

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    Classification of Taxes

    Uploaded by

    minri721
    22 views1 page
    Taxes can be classified in several ways: 1. By subject matter as personal, property, or excise taxes. Personal taxes are fixed amounts on individuals. Property taxes are imposed on real or personal property based on value. Excise taxes are imposed on acts, privileges, occupations, professions, or businesses. 2. By who bears the burden as direct or indirect. Direct taxes are imposed and borne by the same person. Indirect taxes are imposed on taxpayers but shifted to another. 3. By determination of amount as specific or ad valorem. Specific taxes are based on physical units. Ad valorem taxes are a fixed proportion of value.

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    classification of different taxes

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    Taxes can be classified in several ways: 1. By subject matter as personal, property, or excise taxes. Personal taxes are fixed amounts on individuals. Property taxes are imposed on real or personal property based on value. Excise taxes are imposed on acts, privileges, occupations, professions, or businesses. 2. By who bears the burden as direct or indirect. Direct taxes are imposed and borne by the same person. Indirect taxes are imposed on taxpayers but shifted to another. 3. By determination of amount as specific or ad valorem. Specific taxes are based on physical units. Ad valorem taxes are a fixed proportion of value.

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    22 views1 page

    Classification of Taxes

    Uploaded by

    minri721
    Taxes can be classified in several ways: 1. By subject matter as personal, property, or excise taxes. Personal taxes are fixed amounts on individuals. Property taxes are imposed on real or personal property based on value. Excise taxes are imposed on acts, privileges, occupations, professions, or businesses. 2. By who bears the burden as direct or indirect. Direct taxes are imposed and borne by the same person. Indirect taxes are imposed on taxpayers but shifted to another. 3. By determination of amount as specific or ad valorem. Specific taxes are based on physical units. Ad valorem taxes are a fixed proportion of value.

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    Classification of Taxes

    Classification of taxes

    1. As to subject matter or object


    A. personal, poll or capitation- tax of a fixed amount on individuals residing within a specified territory, without regard to
    their property, occupation or business. Ex. Community tax (basic)
    B. property- imposed on property, real or personal, in proportion to its value, or in accordance with some reasonable method
    or apportionment. Ex. Real estate Tax
    C. Excise- imposed upon the performance of an act, the enjoyment of a privilege, or the engaging in an occupation, profession
    or business. Ex. Income tax, VAT, Estate Tax, Donors Tax

    2. As to who bears the burden of the tax

    a. Direct- the tax is imposed on the person who also bears the burden thereof
    Ex. Income tax, community tax, estate tax
    b. Indirect imposed on the taxpayer who shifts the burden of the tax to another, Ex. VAT, customs duties.

    3. As to determination of amount
    a. specific imposed and based on a physical unit of measurement as by head number, weight, length or volume. Ex. Tax on
    distilled spirits, fermented liquors, cigars
    b. Ad Valorem of a fixed proportion of the value of the property with respect to which the tax is assessed. Ex. Real estate tax,
    excise tax on cars, non essential goods.

    4. As to purpose
    A. general, fiscal, or revenue- imposed for the general purpose of supporting the government. Ex. Income tax, percentage
    tax

    B. special or regulatory- imposed for a special purpose, to achieve some social or economic objective. Ex. Protective tariffs or
    custom duties on imported goods intended to protect local industries.

    5. As to scope or authority imposing the tax


    a. national- imposed by the national government ex. NIRC, custom duties
    b. municipal or local- imposed by municipal corporations or local governments ex. Real estate tax,
    6. As to graduation of rates.
    a. proportional- based on a fixed percentage of the amount of the property, receipts or on other basis to be taxed ex. Real
    estate tax, VAT
    b. progressive and graduated- the rate of the tax increases as the tax base or bracket increases ex. Income tax, estate tax,
    donors tax
    c. regressive- the rate of tax decreases as the tax base or bracket increases.
    d. degressive- increase of rate is not proportionate to the increase of tax base.

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