Examlex
Which of the following events would not be recorded in the U.S.balance of payments?
Horizontal Equity
The principle that individuals with similar income and assets should be treated equally by the taxation system.
Proportional Tax
A tax for which high-income and low-income taxpayers pay the same fraction of income.
Tax System
The organized method or structure through which a government or authority collects taxes from individuals and businesses within its jurisdiction.
Horizontal Equity
A principle of taxation asserting that taxpayers with similar income or ability to pay should be taxed at the same rate.
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