B Com Exam > B Com Videos > Public Finance > Shifting of taxes - Public revenue, Public finance
Shifting of taxes - Public revenue, Public finance Video Lecture | Public Finance - B Com
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FAQs on Shifting of taxes - Public revenue, Public finance Video Lecture - Public Finance - B Com
| 1. What is public revenue in the context of public finance? |  |
Ans. Public revenue refers to the income or funds generated by the government through various sources such as taxes, tariffs, fees, fines, and other forms of revenue. It is the primary source of funding for government expenditures and plays a crucial role in maintaining public services and infrastructure.
| 2. What is the concept of shifting of taxes? | |
Ans. Shifting of taxes refers to the phenomenon where the burden of a tax is transferred from the original taxpayer to someone else. This transfer can occur either partially or entirely, depending on the elasticity of demand and supply in the market. For example, if the demand for a product is highly elastic, the tax burden may be shifted to the consumers in the form of higher prices.
| 3. How does the shifting of taxes affect the public revenue? | |
Ans. The shifting of taxes can impact the public revenue in various ways. If the tax burden is successfully shifted to consumers, it can lead to an increase in public revenue as the government collects more taxes. However, if the burden is shifted to producers or suppliers, it may reduce their profitability and discourage investment, which can ultimately lower the tax revenue collected.
| 4. What are the factors that influence the shifting of taxes? | |
Ans. Several factors influence the shifting of taxes. These include the elasticity of demand and supply, market competition, availability of substitute products, and the relative bargaining power of different market participants. Additionally, government policies and regulations can also affect the extent to which taxes can be shifted, as well as the behavior of taxpayers.
| 5. How does the shifting of taxes impact the economy? | |
Ans. The impact of shifting taxes on the economy can be complex. If the burden is shifted to consumers, it can lead to higher prices and reduced purchasing power, which may affect consumer spending and overall economic activity. On the other hand, if the burden is shifted to producers, it can impact their profitability and investment decisions, potentially affecting employment and economic growth. Therefore, the shifting of taxes should be carefully considered to ensure a balanced and equitable impact on the economy.
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Dec 20, 2024 Last updated |
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