System of Tax
Proportional Tax
This is the system of taxation where the marginal rate of tax remains constant as income increases or decreases. It takes the same percentage of taxpayers’ income any level of income. Examples include Petroleum Profit Tax (85%), Capital Gains Tax (10%), etc
Progressive Tax
This is the system of taxation where the marginal rate of tax increases as income increases. It takes a larger percentage of taxpayers’ income as income increases. Example includes Personal Income Tax.
Regressive Tax
This the system of taxation where the marginal rate of tax decreases as income increases. It takes a smaller percentage of taxpayers’ income as income increases. Example includes Consumption/Expenditure Taxes like Value Added Tax (VAT), Poll Tax which is levied at a fixed rate per person regardless of income, and Toll Duty.
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