CLASSIFICATION OF TAXES

Fiscal Taxes

designed to raise revenues for governmental needs

Regulatory Taxes

designed to achieve some social economic goals irrespective of whether revenue is actually raised or not.

Personal, Captivation or Poll Tax

imposed on individuals within the jurisdiction of the taxing power without regard to the amount of their property or occupation in which they are engaged.

Property Taxes

computed upon the valuation of property

Excise Tax

imposed directly by the legislature and the sum is measured by the amount of business done

Direct Tax

when the person on whom the tax is imposed absorbs the tax or bears it

Indirect Tax

charge paid by a person other than the one on whom is legally imposed

Specific Tax

of fixed amount by the hear or member, or by some standards of weight and measuremen

Ad Valorem Tax

fixed proportion, of the value of the property with respect to which the taxes are assessed

National Taxes

levied and collected by the national government

Municipal Tax

levied and collected by the municipal government

Proportional Tax

based on a fixed percentage regardless on the amount of income

Progressive Tax

the tax rate increases as the tax base increases

Regressive Tax

effective rate decreases as the base increases