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. APPENDIX 1: Depreciation rates applicable for Tax year 2019/2020. Permanent Buildings 4% First Class buildings 5% Prefabricated buildings 15% Bridges, platforms, pipelines, permanent way, and railway lines 10% Heavy equipment, Tractors, digging equipment, and any other similar heavy equipment 33.33% Motor vehicles 33.33% Furniture and fixtures 33.33% Aircraft and ships 15% Other equipment and tools 15% Hospital buildings and educational establishments 100% Scientific research equipment 100% GUIDELINES Task 4 1. Discuss what is Progressive, Regressive and Proportional Tax systems 2. Compare and contrast these tax systems and highlight the tax systems which is close to Sultanate o Oman 3. Discuss how to maximize benefits by following such tax systems in particular to Sultanate of Oman