Examlex
What is a HUD system and how does it work?
Excise Taxes
Taxes imposed on specific goods, services, or activities, often used to discourage consumption of certain items or to raise revenue for targeted purposes.
Consumption Taxes
Taxes imposed on spending on goods and services, such as sales tax or Value Added Tax (VAT).
Average Tax Rate
The percentage of gross income that goes towards tax payments, determined by dividing the sum of taxes paid by the gross income.
Taxable Income
The amount of income used to calculate how much the government can tax an individual or a corporation.
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