Explain the term =taxable limit‘ as used in taxation

Explain the term ‗taxable limit‘ as used in taxation

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This refers to the point beyond which taxes should not be increased. It is usually difficult to determine exactly the taxable limit of an individual. Currently, the taxable limit is at 30%, the maximum percentage of tax. Beyond this point, an individual feels that he or she is heavily taxed. The limit should be point beyond which any additional taxation would produce economically harmful results that outweigh any benefit gained from use of revenue raised through taxation.

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Wilfykil answered the question on February 13, 2019 at 07:51

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  Date posted: February 13, 2019 .    Answers (1)