Nature of Tax

Provides an overview of the sales process, and which actions need to take place

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Nature of Tax by Mind Map: Nature of Tax

1. Direct Tax

1.1. Paid by a person directly

1.1.1. Dr. Johny Appleseed

1.1.2. Reasons

1.2. Corporate and Individual Taxes

2. Progressive Tax Rate

2.1. Rate increases as tax increases

2.1.1. E-Mail

2.1.2. Phone

2.2. Income tax, Estate tax and donor's tax

2.2.1. E-Mail

2.2.2. Phone

3. Consumption Tax

3.1. Levied on Goods and Services

3.2. VAT

3.3. Excise Tax

4. Personal Tax

4.1. Fixed amount imposed to individuals

4.2. Community Tax

5. Property Tax

5.1. Value of Property to be levied

5.2. Real Estate Tax

6. Indirect Tax

6.1. Paid directly by an individual to the government through intermediaries

6.1.1. Budget

6.1.2. Authority

6.1.3. Need

6.1.4. Timeframe

6.2. VAT, Excise Tax and Custom duties

6.2.1. Budget

6.2.2. Authority

6.2.3. Need

6.2.4. Timeframe

7. Specific Tax

7.1. Imposed on some goods based on its quantity

7.2. Taxes on wine and fireworks

8. Ad Valorem

8.1. Tax imposed on goods based on their value/price

9. General Tax

9.1. Revenue for public expenditures

10. Special Tax

10.1. Imposed for special purposes

11. National Tax

11.1. Imposed by the national government

12. Local Tax

12.1. Imposed by municipal corporations

12.2. Professional Tax and Community Tax

13. Proportional Tax

13.1. VAT

13.2. Imposed at a fixed percentage

14. Regressive Tax Rate

14.1. Rate decreases as tax increases