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date: 21 July 2019

ability-to-pay 

Source:
A Dictionary of Accounting
Author(s):
Jonathan LawJonathan Law

The principle that taxes should be levied on the basis of the taxpayer’s ability to pay. This normally leads to the view that as income or wealth increases, its marginal utility (its value to its owner) decreases, so that higher rates of tax can be levied on the higher slices. A typical ... ...

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