Indirect Taxes and Subsidies - Edubirdie

University:
London School of Economics and Political Science
Course:
L400 | International Social and Public Policy
Academic year:

2022
Views:

132

Pages:

4
Author:

Prerna T

INDIRECT TAXES AND SUBSIDIES Unit-Markets how they work Are Tax good or Bad? 1 Indirect Taxes: a tous cevied on expenditive ongood Two types 1) Specific tax-specific or fixed amount of els that is imposed upon a productiset at constant amaint. -shifts the cupply curve upwards tosx = vertrial distance between the 2 supply curves. The Effects of a Specific Tax on e Producer Price P1 D1 Sport fax Spre P2 A specific tax causes an inward shift of the supply curve and leads to a higher market price. There is a contraction along the market demand curve Q2 Quantity Amount of tax shown by vertical distance between two supply curves UK Tax Revenues from Value Added Tax 73 72.5 774 Incidence of a tax The way in which the tax burden of paying sales tax is divided between buyers and sellers

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