Examlex
What is the main idea of the ABC-X model?
Tax Exemptions
Deductions allowed by law to reduce taxable income, often for specific categories of expenses or investments.
Progressive
Pertaining to a type of tax system where the tax rate increases as the taxable amount or income increases, often aimed at reducing income inequality.
Incidence of Taxation
Refers to who ultimately bears the financial burden of a tax, which can differ from who initially pays the tax.
Society
A community of individuals living in a structured and organized way, sharing customs, laws, and organizations.
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