Importance of Tax

Descrição

Aberystwyth University Taxation Mapa Mental sobre Importance of Tax, criado por Harley Wickstead em 10-05-2013.
Harley Wickstead
Mapa Mental por Harley Wickstead, atualizado more than 1 year ago
Harley Wickstead
Criado por Harley Wickstead mais de 11 anos atrás
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Resumo de Recurso

Importance of Tax
  1. Canons
    1. Equity
      1. Fair Tax
        1. Horizontal everything is equal
          1. Vertical is difference is difference
        2. Effciency
          1. Admin
            1. Economic
            2. Certainty
              1. Knowing of tax liability
              2. Convience
                1. Easy and less cost
                  1. Admin Costs
                    1. Compliance Costs
                  2. Flexibility
                    1. Easy to cope with change
                  3. Poll Tax
                    1. First established in 1989 to replace property tax
                      1. Failed in 2003 and replaced with council tax
                      2. Why it failed?
                        1. Increase in convience (admin costs)
                          1. Massive drop in census and opinion polls
                            1. Was not redeemed fair
                              1. It was not very efficient as people did not pay their taxes
                            2. Is tax a necessary evil of modern society?
                              1. Good Points
                                1. Free Public Services (Law Enforcement and Defence)
                                  1. Taxes go into fund things which we need
                                    1. No international borrowing/debt
                                      1. Taxes, allocation of economic resources, distribution of income and wealth, no tax means no benefits
                                        1. Used to manage economy, employment levels, inflation, relationship with overseas trading and prices
                                          1. Influence taxpayers behavior (smoking) , climate levy
                                          2. Bad points
                                            1. Prices increase (VAT)
                                              1. Government could lend money but there is a limit to how much
                                              2. Government use many ways to raise revenue but tax is the best way
                                                1. As you can see the good points heavily out way the bad points

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