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Only reasons why government must import tax!
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[QUOTE="Mellorando, post: 206749, member: 37973"] There are many reasons why government or its agencies in post Taxas an individual or corporate bodies.Tax is known to be used to improve the economy of a country the reasons for the imposition of tax include: 1. To raise revenue : taxes are used to raise revenue for the government through this money required for the provision of essential services general administrative purposes and financing of capital projects and may develop. 2. To redistribute income: Through the pay as you earn (P.A.Y.E) system government can narrow the gap between the rich and the poor by introducing progressive taxation. 3. Discouragement of production and consumption of harmful goods: taxes are used to discourage the production and consumption of harmful goats indirect taxes imposed can lead to higher prices which can discourage the consumption of certain goods 4. To control inflation: taxes can be used as anti-inflationary device government can do this by increasing directors without increasing its expenditures. 5. to promote infant industries: taxes can be used to promote newly established industries from competition with foreign firms. 6. To correct an adverse balance of payment: taxes are used to correct an adverse balance of payments importation of foreign goods could be restricted by the use of heavy import duties thereby conserving foreign exchange this will have effects on balance of payments. 7. Prevention of dumping: taxes are used to prevent dumping by the imposition of high import duties on foreign-made goods dumping is a condition in which goods are sold abroad as cheaper price than are sold in the country in which there are produced. Don't be in real's local industry easily. 8. Direction of production and investment: taxation can be used to direct production and investment example tax exemptions or rebates for industries located in rural areas 9. Promotion of economic growth: Taxes can be used to promote economic growth government can reduce taxes on company profits so that those profit are ploughed back into business to aid expansion and stability. 10. Retaliatory measures: Transition can be used as a retaliatory measures in international trade. 11. Employment purpose: government can manipulate taxation to achieve the desired employment level. 12.Savings: that section can be used to encourage savings and investments [/QUOTE]
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Only reasons why government must import tax!
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