Economics

• Personal Income Taxes


  Taxes levied on incomes of individuals
• Business Income Taxes


  Taxes levied on incomes of corporations & taxable partnerships
• Property Taxes


  Taxes levied on real properties, such as bonds, houses, & buildings
• Estate and Gift Taxes


  Commonly known as inheritance tax, there are taxes on transfer of wealth
• Value-Added Tax


  Tax levied on purchase or consumption of selected products
• Excise Tax


  Tax levied on particular products such as liquors, & cigarettes
• Duties


  Taxes on purchase or consumption of imported goods
• Direct Taxes


  Taxes shouldered & paid by the taxpayers themselves
• Indirect Taxes


  Taxes passed on by the taxpayers to other persons
• Exchange Rates


  Value of one currency in terms of another currency, & vice versa
• Primary Income


  Payments for the use of factors of production
• Secondary Income


  Redistribution of income through current transfers