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Funding a business
The Effect of a cashless policy on Tax Revenue
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[QUOTE="Ekta, post: 301292, member: 89448"] In recent years, the policy of going cashless has been adopted by more and more countries, in order to reduce tax evasion, simplify the payment system, and increase transparency. The cashless policy has had a positive effect on the tax revenue by increasing the amount of taxes collected. First of all, a cashless system eliminates the possibility of paying taxes in cash, which was a major source of tax evasion. This has resulted in more people paying their taxes, which has increased the amount of taxes collected. It also simplifies the payment process, making it easier for people to pay their taxes. This increases the number of people who are willing and able to pay their taxes, resulting increase in the amount of taxes collected. The cashless system also increases transparency. by reducing the number of cash transactions, it is easier for government to track the flow of money and identify those who are envading taxes. This makes it easier for them to collect the taxes that are owed, resulting in an increase in tax revenue. [/QUOTE]
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