Abstract
We have looked at taxation in general. Now we shall consider individual taxes and illustrate the investigation with examples from the UK (see Figure 7.1). Income Tax is a tax on the income of a person and is therefore a personal tax. It is also a direct tax on the taxpayer. For the purpose of taxation a distinction may be drawn between two types of income, which are: (i) earned incomes – wages, salaries, professional fees, benefits in kind; (ii) unearned income – rent, interest, dividends.
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SUGGESTED FURTHER READING
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© 1996 D.I. Trotman-Dickenson
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Trotman-Dickenson, D.I. (1996). Taxes on Income. In: Economics of the Public Sector. Palgrave, London. https://doi.org/10.1007/978-1-349-13264-5_7
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DOI: https://doi.org/10.1007/978-1-349-13264-5_7
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