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CLASSIFICATION OF TAXES
Taxes can be classified on the basis of:
a. Impact of the taxes
It means on whom the tax is imposed. On the other hand, incidence of the tax refers to who had to bear the burden of the tax. In this case the taxes may be:
b. Rates of tax
The rate of tax is the percentage of the tax base to be taken in each situation. In this case the taxes may be:
Why we need to distinguish between private cost and social cost?
the benefits of exchange in the light of the law of association, the introduction of money in direct exchange and way income gets distributed among market participants
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