Tax

Total revenue from direct and indirect taxes given as share of GDP in 2017

Pieter Brueghel the Younger, The tax collector's office, 1640

Substitution effect and income effect with a taxation on y good.

Budget's constraint shift after an introduction of a lump sum tax or a general tax on consumption or a proportional income tax.

The Laffer curve. In this case, the critical point is at a tax rate of 70%. Revenue increases until this peak, then it starts decreasing.

General government revenue, in % of GDP, from social contributions. For this data, the variance of GDP per capita with purchasing power parity (PPP) is explained in 20% by social contributions revenue.

Egyptian peasants seized for non-payment of taxes. (Pyramid Age)

Public finance revenue from taxes in % of GDP. For this data, the variance of GDP per capita with purchasing power parity (PPP) is explained in 32% by tax revenue.

Diagram illustrating deadweight costs of taxes

Compulsory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures (regional, local, or national), and tax compliance refers to policy actions and individual behaviour aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax reliefs.

- Tax

500 related topics

The supply and demand model describes how prices vary as a result of a balance between product availability and demand. The graph depicts an increase (that is, right-shift) in demand from D1 to D2 along with the consequent increase in price and quantity required to reach a new equilibrium point on the supply curve (S).

Duty (tax)

In economics, a duty is a target-specific form of tax levied by a state or other political entity.

Tariff

Average tariff rates in Spain and Italy (1860–1910)

US Trade Balance and Trade Policy (1895–2015)

Effects of import tariff, which hurts domestic consumers more than domestic producers are helped. Higher prices and lower quantities reduce consumer surplus by areas A+B+C+D, while expanding producer surplus by A and government revenue by C. Areas B and D are dead-weight losses, surplus lost by consumers and overall. For a more detailed analysis of this diagram, see Free trade

GDP per capita at purchasing power parity (PPP) versus import taxes, by country.

A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods.

Estate tax returns as a percentage of adult deaths, 1982–2008.

Estate tax in the United States

The estate tax in the United States is a federal tax on the transfer of the estate of a person who dies.

Trends in Tax Structures in OECD Countries

Indirect tax

General government revenue, in % of GDP, from indirect taxes. For this data, the variance of GDP per capita with purchasing power parity (PPP) is explained in 0 % by tax revenue.

An indirect tax (such as sales tax, per unit tax, value added tax (VAT), or goods and services tax (GST), excise, consumption tax, tariff) is a tax that is levied upon goods and services before they reach the customer who ultimately pays the indirect tax as a part of market price of the good or service purchased.

Corvée

Form of unpaid, forced labour, which is intermittent in nature and which lasts limited periods of time: typically only a certain number of days' work each year.

Egyptian peasants seized for non-payment of taxes during the Pyramid Age.

Paul I's edict, the manifesto of three-day corvee

C. 1000 BC clay bowl, one day corvée ration(?) Marlik, Iran

As such it represents a form of levy (taxation).

A modern corporate office building in Münster, North Rhine-Westphalia, Germany.

Taxpayer

A taxpayer is a person or organization (such as a company) subject to pay a tax.

The ratio of German assets in tax havens in relation to the total German GDP. Havens in countries with tax information sharing allowing for compliance enforcement have been in decline. The "Big 7" shown are Hong Kong, Ireland, Lebanon, Liberia, Panama, Singapore, and Switzerland.

Tax noncompliance

Tax campaigner Richard Murphy's estimate of the ten countries with the largest absolute levels of tax evasion. He estimated that global tax evasion amounts to 5 percent of the global economy.

Poster issued by the British tax authorities to counter offshore tax evasion.

Tax noncompliance (informally tax avoision) is a range of activities that are unfavorable to a government's tax system.

Public sector

Part of the economy composed of both public services and public enterprises.

Direct administration funded through taxation; the delivering organization generally has no specific requirement to meet commercial success criteria, and production decisions are determined by government.

Dalton's Principle of Maximum Social Advantage. Graph showing point of Maximum Social Advantage at point "P"

Public expenditure

Spending made by the government of a country on collective needs and wants, such as pension, provisions , security, infrastructure, etc. Until the 19th century, public expenditure was limited as laissez faire philosophies believed that money left in private hands could bring better returns.

Sources of government revenue include taxes, and non-tax revenues.

Use tax

A use tax is a type of tax levied in the United States by numerous state governments.