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Task 3: The concept of taxation is an important notion that plays a key role in sustaining economies and countries

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Task 3:

The concept of taxation is an important notion that plays a key role in sustaining economies and countries. It is considered that every citizen of a nation has the obligation to pay his taxes that are levied by the country. While there are different types of taxes, they are broadly classified into two categories, i.e. direct taxes and indirect taxes.

Required:

Discuss the key differences between direct taxes and indirect taxes in general in GCC and from the view of the Sultanate of Oman in particular by providing examples from the tax laws of Oman. And also discuss the implications of Covid-19 on indirect taxes.

Task 4:

Taxes can be distinguished by the effect they have on the distribution of income and wealth.

Required:

Discuss the above statement by addressing Progressive, Proportional and Regressive tax structures and its impact on the performance of a given society.