Taxes And Tax Treatments: Difference between revisions
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Definition
Taxes And Tax Treatments. In the context of the Financial Competence Framework, Taxes And Tax Treatments is a topic in the Financial Landscape subject matter domain.[1]
Competences
Mastering the role of Taxes And Tax Treatments in financial literacy context requires the following competences:
Code | Competency Description | Competency Type |
---|---|---|
538 | Understands why taxes are collected and how they are used | Knowledge |
539 | Understands what can happen if taxes are not paid | Knowledge |
540 | Knows how to check tax obligations | Knowledge |
541 | Aware of the existence of deferred tax obligations where relevant | Knowledge |
542 | Aware of current levels of basic taxes such as income tax and goods tax | Knowledge |
543 | Aware of different tax treatments for various financial products held such as mortgages, pensions or savings | Knowledge |
544 | Aware of the possibility of dealing with (some) tax matters online | Knowledge |
545 | Pays taxes and/or claims tax refunds as appropriate | Skill |
546 | Monitors personal obligations and rights in light of tax policies | Skill |
547 | Keeps in mind all tax obligations when budgeting and making longer-term financial plans | Skill |
548 | Takes into account tax treatments when choosing financial products | Skill |
549 | Is able to use the online service offered by tax administrations to deal with tax matters | Skill |
550 | Accepts that it is important to pay taxes owed | Attitude |
References
- ↑ European Union/OECD (2022), Financial competence framework for adults in the European Union