Code: 4.6.1 · Adults
Taxes and tax treatments
Descriptors
Knowledge
What you can do at this level
- Kdaily-lifelarge-majority
Understands why taxes are collected and how they are used
- Kdaily-lifelarge-majority
Understands what can happen if taxes are not paid
- Kdaily-lifelarge-majority
Knows how to check tax obligations
- Kdaily-lifelarge-majority
Aware of the existence of deferred tax obligations where relevant
- Kdaily-lifelarge-majority
Aware of current levels of basic taxes such as income tax and goods tax
- Klarge-majority
Aware of different tax treatments for various financial products held such as mortgages, pensions or savings
- Kdigitaldaily-lifelarge-majority
Aware of the possibility of dealing with (some) tax matters online
Skill
What you can do at this level
- Sdaily-lifelarge-majority
Pays taxes and/or claims tax refunds as appropriate
- Sdaily-lifelarge-majority
Monitors personal obligations and rights in light of tax policies
- Sdaily-lifelarge-majority
Keeps in mind all tax obligations when budgeting and making longer-term financial plans
- Sresiliencelarge-majority
Takes into account tax treatments when choosing financial products
- Sdigitaldaily-lifelarge-majority
Is able to use the online service offered by tax administrations to deal with tax matters
- Learning outcome types
- K — What you need to know: theoretical understanding and factual information.
- S — What you can do: practical and technical abilities.