Join the social network of Tech Nerds, increase skill rank, get work, manage projects...
 
  • its a basic question on how to calculate tax using python

    • 1
    • 0
    • 0
    • 2
    • 0
    • 0
    • 0
    • 502
    Answer it

    Country X calculates tax for its citizens using a graduated scale rate as shown below:

    1. Yearly Income: 0 - 1000

      Tax Rate: 0%

    2. Yearly Income: 1,001 - 10,000

      Tax Rate: 10%

    3. Yearly Income: 10,001 - 20,200

      Tax Rate: 15%

    4. Yearly Income: 20,201 - 30,750

      Tax Rate: 20%

    5. Yearly Income: 30,751 - 50,000

      Tax Rate: 25%

    6. Yearly Income: Over 50,000

      Tax Rate: 30%

    Write a Python function named calculate_tax that will take as an argument, a dictionary containing key-value pairs of people's names as the keys and their yearly incomes as the values.

    The function should return a dictionary containing key-value pairs of the same people’s names as keys and their yearly tax bill as the values. For example, given the sample input below:

    {
        ‘Alex’: 500,
        ‘James’: 20500,
        ‘Kinuthia’: 70000
    }
    

    The output would be as follows:

    {
        ‘Alex’: 0,
        ‘James’: 2490,
        ‘Kinuthia’: 15352.5
    }
    

    The tax for James would be calculated as follows:

    1. The first 1000 (1000 - 0)

      Calculation: 1,000 * 0%

      Tax: 0

    2. The next 9000 (10,000 - 1,000)

      Calculation: 9,000 * 10%

      Tax: 900

    3. The next 10,200 (20,200 -10,000)

      Calculation: 10,200 * 15%

      Tax: 1530

    4. The remaining 300 (20,500 - 20,200)

      Calculation: 300 * 20%

      Tax: 60

    5. Total Income: 20,500

      Total Tax: 0 + 900 + 1530 + 60 = 2490

 2 Answer(s)

  • Hi Auralia Malik, you can use the packages tax-calculation 0.6.8 in your python code library. then you can find the calculation of taxes as per country and as per state. Below i have done this code in cloud-tax calculation-:

     import copy
    import numpy as np
    import taxcalc 0.6.8
    from .utils import *
    from .functions import *
    from .policy import Policy
    from .records import Records
    from .behavior import Behavior
    from .growth import Growth
    from .consumption import Consumption
    # import pdb
    
    
    class Calculator(object):
        """
        Constructor for the Calculator class.
        Parameters
        ----------
        policy: Policy class object
            this argument must be specified
            IMPORTANT NOTE: never pass the same Policy object to more than one
                            Calculator.  In other words, when specifying more
                            than one Calculator object, do this:
                            pol1 = Policy()
                            rec1 = Records()
                            calc1 = Calculator(policy=pol1, records=rec1)
                            pol2 = Policy()
                            rec2 = Records()
                            calc2 = Calculator(policy=pol2, records=rec2)
        records: Records class object
            this argument must be specified
            IMPORTANT NOTE: never pass the same Records object to more than one
                            Calculator.  In other words, when specifying more
                            than one Calculator object, do this:
                            pol1 = Policy()
                            rec1 = Records()
                            calc1 = Calculator(policy=pol1, records=rec1)
                            pol2 = Policy()
                            rec2 = Records()
                            calc2 = Calculator(policy=pol2, records=rec2)
        verbose: boolean
            specifies whether or not to write to stdout data-loaded and
            data-extrapolated progress reports; default value is true.
        sync_years: boolean
            specifies whether or not to syncronize policy year and records year;
            default value is true.
        behavior: Behavior class object
            specifies behaviorial responses used by Calculator; default is None,
            which implies no behavioral responses.
        growth: Growth class object
            specifies economic growth assumptions used by Calculator; default is
            None, which implies use of standard economic growth assumptions.
        consumption: Consumption class object
            specifies consumption response assumptions used to calculate
            "effective" marginal tax rates; default is None, which implies
            no consumption responses.
        Raises
        ------
        ValueError:
            if parameters are not the appropriate type.
        Returns
        -------
        class instance: Calculator
        """
    
        def __init__(self, policy=None, records=None, verbose=True,
                     sync_years=True, behavior=None, growth=None,
                     consumption=None):
            if isinstance(policy, Policy):
                self._policy = policy
            else:
                raise ValueError('must specify policy as a Policy object')
            if isinstance(records, Records):
                self._records = records
            else:
                raise ValueError('must specify records as a Records object')
            if behavior is None:
                self.behavior = Behavior(start_year=policy.start_year)
            elif isinstance(behavior, Behavior):
                self.behavior = behavior
            else:
                raise ValueError('behavior must be None or Behavior object')
            if growth is None:
                self.growth = Growth(start_year=policy.start_year)
            elif isinstance(growth, Growth):
                self.growth = growth
            else:
                raise ValueError('growth must be None or Growth object')
            if consumption is None:
                self.consumption = Consumption(start_year=policy.start_year)
            elif isinstance(consumption, Consumption):
                self.consumption = consumption
            else:
                raise ValueError('consumption must be None or Consumption object')
            if sync_years and self._records.current_year == Records.PUF_YEAR:
                if verbose:
                    print('You loaded data for ' +
                          str(self._records.current_year) + '.')
                while self._records.current_year 
  • If you are calculate this type tax then you easily manage the tax. and divide tax into many part as par your requirement.

    Following these step given below
    1- First we go to account module account -> configuration -> accounting ->Taxes and create tax as given below screen shoot
    2- If you developer then you manage and chage account_tax function in .py file in
    account module.

Sign In
                           OR                           
                           OR                           
Register

Sign up using

                           OR                           
Forgot Password
Fill out the form below and instructions to reset your password will be emailed to you:
Reset Password
Fill out the form below and reset your password: