Economics: Taxation

6. - Tax collected by an intermediary (e.g. retailer) before being passed to the government.
8. - These rise when a specific indirect tax is imposed on producers.
11. - The original price and quantity before a tax is imposed.
14. - Fixed amount of tax per unit of a good, regardless of its price.
16. - The final recipient of all tax revenues.
18. - The money raised by the government through taxation.
19. - Term for how the burden of a tax is shared between consumers and producers.

1. - A compulsory charge imposed by the government on individuals or businesses to raise revenue.
2. - Percentage-based tax that increases with the value of the good, e.g. VAT.
3. - Reduction in total economic surplus resulting from taxes or inefficiencies.
4. - Tax paid straight to the government, e.g. income tax or corporation tax.
5. - Tax deducted directly from workers’ wages or salaries.
7. - Common ad valorem tax charged at 20% on most goods and services.
9. - The curve that shifts to the left when an indirect tax is introduced.
10. - Person who pays part of the tax burden through higher prices.
12. - Compulsory contribution from employees’ pay packets that funds state benefits.
13. - What happens to the supply curve when a new indirect tax is introduced.
15. - Tax paid by businesses on their profits.
17. - Economic agent that collects indirect tax and bears part of the burden.