Taxes And Tax Treatments

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.

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