Although taxes are compulsory contributions imposed by relevant authorities to the citizens it should be noted that it enable such authorities in provision of public goods and services that can be used by all citizens without discrimination. In essence, taxes are said to be a source of revenue which can be utilized to meet the requirements of the members of the public. From the constitution of the state of Bacteria, it is evident that taxes as a source of revenue are used to pay the debts and liabilities incurred by the state of bacteria, facilitates the provision of health facilities, utilized in promotion of education systems and improving the general welfare of all the residents of the state of Bacteria.
The Bacterians should understand that in order to boost there economic status as well as their autonomy from other states in Tomania its efficiency and effectiveness in collection of taxes will contribute to attaining such a goal successfully. Taxes also play a role in distribution of income and wealth in Bacteria and the residents of this state should know that by collection of taxes it reduces the gap between the poor and the rich and thus a decline in poverty levels. The Bacterians should also understand that taxation is utilized as an instrument of economic policy since it guarantees economic stability through controlling the flow of both capital assets and cash within the state of Bacteria. (Brunori, 2001)
Also the Bacterians should know that the collection of taxes will be very important in that it will be used to control the aspect and level of economic practices by utilizing the existing regulations on both monetary and fiscal policies for example the aspect of curbing inflation, interest rates rules and also in some other instances taxes are used to provide incentives to the citizens by reducing such taxes imposed which in turn will lead to a rise in savings, investments and disposable income levels.
The Term Paper on Californians And Failing To Raise Tax State Budget Schwarzenegger
California's Republican governor, Arnold Schwarzenegger, outlined a budget proposal January 9 that constitutes a massive assault on health, education and other social service programs upon which millions of people in the state rely. The $99 billion budget is aimed at eliminating a $14. 3 billion gap between expected tax revenues and expenditures. It will include $4. 6 billion in cuts, $1 billion ...
Taxes can be imposed through various types and may be classified on the basis of the following; the first basis is that if impact of tax whereby as a proconsul it will be very vital to decide on whom to impose taxes to that is who will be responsible of the tax burden. Under this section the taxes may either be direct or indirect taxes. A direct tax can be defined as that tax which has an impact and its incidence imposed on the same individual. Such direct taxes my include income and corporation taxes to be imposed in the state of Bacteria. On the other hand indirect taxes are taxes whose impact is on an individual but such a tax will be paid partially or entirely by a different person. Such taxes are usually said to be passed on, for example excises, customs and sales taxes.
The second classification is that of base of tax; the state of Bacteria tax collection officials before imposing taxes can consider the item upon the tax is imposed on, for example import taxes which its base is said to be that of income. The third classification to be considered as a proconsul of Bacteria is that of rate of tax which will involve dividing taxes in to three sections that of progressive, proportional or regressive taxes. Progressive tax is a scenario whereby it is based on increase of disposable income and particularly when rate of taxes increases, e.g. income taxes. Proportional taxes applies where a universal rate of taxation is applied to all those who are responsible to paying taxes for example taxing all corporations tax at the same rate like say 35% of there proceeds. On the other hand regressive taxes are those imposed when the income increases taxes while tax rates declines; under this the rich are favored in that those who are poor in the society will be subjected to paying a lot taxes and yet they earn less as compared to the rich persons. It will be prudent therefore for the state of Bacteria to avoid such classification of tax levying because it will be retrogressive in that the poor will continue to increase in number while those who are rich already will maximize on their wealth�s and thus state of Bacteria may in future will have few billionaires or trillionares while the rest will be poor thus the economy will not grow as required.
The Essay on Flat Tax Bill System Income Rate
106 th Congress 1 st Session H. R. 5 IN THE HOUSE OF REPRESENTATIVES OCTOBER 19 TH, 1999 Introduced the following bill in which was referred to the Committee on A BILL To tax income once and only once at a single rate. 1. Be it enacted by the Senate and the House of Representatives of the 2. United States of America in Congress assembled. 3. SECTION 1. THE TITLE 4. This Act may be cited as the " ...
Therefore as a proconsul of the state of Bacteria I will consider the taxes imposed by the government of Tomania and in the process come up with different method of taxation since constitutionally it is not allowed to impose taxes already levied by the government. However, I will prefer to impose taxes which are proportional and at the same time progressive kind of taxes. Of course the major task will be to identify the areas in which to impose taxes and rates thereon in order to widen the tax base and at the same time increase the chances of collecting enough revenue thus in the process attain economic goals in Bacteria. Therefore I will consider the following taxes to be imposed on the state of Bacteria: (Albanesi and Sleet, 2006)
Land, rent and rates; under this taxes, will be levied on property that is within the state of Bacteria particularly land. I will ensure that rent collected from leasing some land should be remitted to state of Bacteria relevant authorities which determine the exact rate of the tax to be imposed on such properties.
Another form of imposing tax will be that of introducing customs duty whereby taxes will be levied on import or export of goods from the state of Bacteria to other states in Tomania. Such a tax will ensure protection of local industries since those goods that will be imported to Bacteria should be taxed highly. However, those that are produced within the state of Bacteria will only be subjected to less tax which will act as an incentive thus increase in productivity in the state of Bacteria. This scenario will boost the economic growth and expansion in the state of bacteria and thus in Tomania.
The Review on Income Tax Administration and Scale Business Earnings in Uganda
The chapter is concerned with the background of the study, statement problem, purpose of the study, objective of the study, research questions and scope of the study and the significance of the study. 2. 1 BACKGROUND OF THE STUDY The income tax Act and constitution are the main legal basis for charging income tax. It is chargeable to both artificial and mutual persons hence can be businesses, ...
The other kind of tax that the state of Bacteria should introduce is that of sales tax whereby the taxes levied will be based on the selling prices of goods and services within the state of bacteria. Under this kind of tax more emphasis will be directed to taxing heavily those goods that come in to state of bacteria and levying low taxes to those goods and services produced in the state of Bacteria.
The other form of tax that is recommended to the state of Bacteria will be that of non-residence taxes. This kind if tax will be levied on those individuals who do not have permanent residence in the state of Bacteria. This will ensure that those who come to trade in the state of Bacteria will have to pay taxes to the Bacteria tax officials in order to be part of the residents of the Bacteria and thus can be allowed to carry out any business activities without being apprehended. How such taxes should not be high because it may scare away potential investors who might have wished to invest in the state of Bacteria in Tomania.
The other kind of tax to be introduced will be that tax imposed on inheritance and gifts that the people of Bacteria will acquire or give out. Since inheritance is part of property transfer from one individual to another the state of Bacteria should introduce a system whereby all the inherited properties are subjected to some kind of tax and will depend on the value of property to be transferred. Also gifts will involve transfer of property and taxes should also be levied depending on the total value of the gifts. However, the tax imposed on such properties should not exceed their real value.
Since the Tomanian government does not tax any monies received from outside the country I will therefore propose and introduce a levy on all incomes that is received from outside the country and outside the state of Bacteria so long as the ultimate destination of such amount will be Bacteria. This kind of tax will be subjected only to those incomes that are transferred from other destinations to State of Bacteria. However, incomes that will be transferred outside the state of bacteria by the residents of Bacteria shall not be subjected to any kind of tax.
The Essay on To Tax or Not to Tax
It had the potential to raise taxes to outrageous rates, and despite the dismissal of the Cliff, the issue had just been pushed onto the back burner of the economy and will be readdressed later this year. On one hand, by keeping low taxes the state is unable to create a sufficient amount of money to pay off its debt. Instead, many people argue that by raising taxes the increased prices of items ...
The other form of tax that I will introduce will be that of taxes imposed on any kind of donations received within the state of Bacteria. Such taxes will be aimed at reducing dependency from other states within Tomania and hence residents of the state of Bacteria will not rely heavily on external funding and thus work hard in order to earn their living.
Another form of tax to be introduced is that of horse race winning tax. Since the state of bacteria is mainly found of horse racing activities within the area nearly every weekend it will be advisable to introduce such a tax and mainly direct it to premium bond winning tickets which are normally based on bets. Research shows that a lot of Bacterians and other outsiders come to theses social race courses every weekend with their intentions of betting on which horses will win and in the process spending a lot of cash. Therefore such monies should be subjected to taxes lets say for example one percent of every amount that is used in betting process.
The other form of tax that the state of Bacteria can introduce is that of charity sweepstake winning taxes. Income from such charity sweepstakes activities should be subjected to tax because also in the state of Bacteria, many individuals like participating in such events and a lot of money changes hands in the process. For example the simple tax rule can be that of, for every certain amount won some percentage will be paid as taxes to the state of bacteria.
The other form of tax will be that of subjecting tax to casinos and other places of gambling activities. Gambling activities in the state of bacteria is reportedly widespread and therefore the owners of such social places should be subjected to pay. The government of Tomania is always reported to be collecting entertainment tax from social places but they have always exempted casinos from taxes and that will be the right opportunity to state of Bacteria tax authorities to capitalize on such collection. (Robert, Cordes and Jane, 2005)
However, the above taxes should be implemented in such a way that it does not flout principles or cannons of taxation which are universal not only in Tomania but nearly in the world. Some of the principles include; the cannon of equity whereby it will involve all the residents living in state of Bacteria remitting the taxes imposed on them according to their capability and should be levied on the proportion of their revenue that they earn from any activities. This implies that the poor will pay less tax as compared to the rich individuals thus bridging the gap between the poor and the rich.
The Business plan on Challenges of Management of Public Residential Estate in Ebony State
Chapter one 1.Introduction Although residential estate is one of the most stable and profitable investment opportunities available it is the Virtual Residential estate that is the new gold rush. The revolution is happening right under our eyes with new millionaires being created every minute even as you read this article. It is just the beginning of the new wave of wealth creation. Such unique ...
The other principle is that of certainty whereby the residents of Bacteria should be aware of the taxes that they pay and such taxes should not be arbitrary; this will facilitate the collection of such taxes. Convenience principle too should be adhered to whereby the taxes imposed should be convenient to the residents of Bacteria i.e. they will be able to tell which taxes to be paid and at what time. Canon of economy should also be considered in that the tax system adopted by the state of Bacteria should be simple to understood and simplicity should hold that is; easy to compute, access to tax returns to be filled and submitted to relevant authorities and the application of universal tax rates all over the state. The other principle to be considered will be that of productivity whereby I will ensure that the taxes collected will be sufficient to pay the debts of the state of Bacteria as well improving the social welfare of the residents and provision of public goods and services.
The other principle that must also hold is that of elasticity whereby the state of Bacteria can reduce or increase the taxes depending on the situations and requirements of the people of that state. However, laws should be put in place to protect the residents of state of Bacteria from being exploited through adjustment of tax rates by politicians and other officials for their own gains. The other principle is that of flexibility whereby the tax system adopted in the state of bacteria should not be rigid whereby the tax legislations implemented can be adjusted without many difficulties. The other principle is that of diversity whereby a variety of taxes should be introduced in order to spread the tax burden. Also with a lot of kind of taxes the state of bacteria will achieve its goal of collecting more revenue thus meeting the requirements of its residents and thus reducing dependency from other states. (Boccabella, 2000)
As an astitute politician I will ensure that all the above taxes are imposed at reasonable rates and therefore no resident of the state of Bacteria is exploited from such tax collection. The residents of the state of Bacteria should be aware that the idea behind the collection of all these taxes will be to spread uniformly the burden of tax and no one should be subjected to paying taxes on arbitrary basis. It should also be noted that such remittance of taxes will depend on the revenue that they earn and the value of property subject to tax in order to avoid unnecessary biases. Therefore I will form an efficient tax collection system that will ensure that no single person escape from paying such taxes in order to ensure the collection of adequate revenue that will be utilized in meeting the requirements and the needs of all residents of the state of Bacteria. For all these tax legislations to go on smoothly without many complexities it will be prudent for me as a proconsul of the state of Bacteria to embark on sensitization program to the members of the Bacteria. People of state of Bacteria have to be aware that taxes are a source of revenue that is free from any liabilities and will lead to reduction in dependency.
The Essay on Penalties and Offences in Tax
In understanding the context of penalties and offences in Self-Assessment System, we first need to understand the overall meaning of Self-Assessment System. Self-Assessment System is based on the concept Pay, Self Assess and File. Whereby, Pay stands for monthly salary deductions are made for the individuals who are having an employment income or also for the individuals who are having business ...
Therefore it will be advisable to form an efficient and effective tax collection system which will ensure that no person evade the payment of taxes and should therefore introduce stiff penalties such as fines for individuals who fail to remit their taxes on time or completely. In order for the people of state of Bacteria to be satisfied and continue remitting taxes it will be of great significance for relevant authorities to be accountable for all the taxes collected. Revenues collected from taxes should be ensured that they are properly used to serve the interest of all the residents of state of Bacteria; such a move of accountability will build faith on the concerned authorities by the residents and thus individuals will be motivated to remit their taxes in accordance to the rules adopted in the state without further complications. (Brunori, 2001)
Despite the fact there should be a variety of taxes imposed in the state of Bacteria in order to widen the tax base as well as with an aim of increasing revenue, I will ensure that the tax rates to be applied should be reasonable. The reason for this is that all persons within the state should not feel that they are exploited since they are also subjected to paying taxes by the Tomanian government. Therefore I will ensure that the taxes imposed in the state of Bacteria are not the same or have connection with those that are imposed by the Tomanian administration.
Reference
Albanesi S. and Sleet C. (2006): Dynamic Optimal Taxation with Private Information.
Review of Economic Studies, Pp 12-45
Boccabella, D. (2000): Proposed cash Flow/tax value method of determining taxable income. Journal of Australian taxation Vol 2, Pp 23-43
Brunori, D (2001): State Tax Policy- A Political Perspective, 2nd Edition, Urban Institute Press Pp 20-57
Robert, D., Cordes, J. and Jane G. (2005): The Encyclopedia of Taxation and Tax Policy: – 2nd Edition, Urban Institute Press. Pp 25-50