Asked by
Nitesh Malviya
on Nov 26, 2024
Verified
The benefits-received principle of taxation is used to support corporate and personal income taxes.
Benefits-Received Principle
The concept that those who benefit from government services should pay taxes in proportion to the amount of benefits they receive.
Corporate Income Taxes
Taxes imposed on the net income of corporations, calculated after deductions for costs, depreciation, and interest.
- Understand the basis of the benefits-received principle of taxation and the ability-to-pay principle.
Verified Answer
TS
Learning Objectives
- Understand the basis of the benefits-received principle of taxation and the ability-to-pay principle.