.png)
19. Distinguish tax from other terms:
a.
Subsidy -- pecuniary aid directly granted by the government to an individual
or private commercial enterprise deemed beneficial to the public
b.
Revenue -- refers to all the funds or income derived by the government, whether
from tax or from whatever source and whatever manner
*Main difference between taxes and
revenue: revenue derived from taxes are exempted from execution of judgment
c.
Internal revenue -- refers to
taxes imposed by the legislature other than duties on imports and exports
d.
Customs
duties -- taxes imposed on goods exported from or
imported into a country
e.
Tariff -- (a) book of rates drawn usually in alphabetical order containing the
names of several kinds of merchandise with the corresponding duties to be paid
for the same; (b) duties payable on goods imported or exported; (c) system or
principle of imposing duties on the importation or exportation of goods
Comments
Post a Comment