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Several benefits accrue to
You are required to
Explain the measures that government need to put in place to realise these benefits.
Step by step
Solved in 2 steps
- Identify three ways that governments can alter their tax system to increase revenues.Explain why administrative and compliance costs of taxation is important regarding taxation? What are the specific measures that you are proposing to make a tax system simpler?Which among the type of taxes (national or local) do you think can be reduced, removed, or revised to the benefit of both the government and the common individual? Cite relevant sources such as previous research studies, taxation reform programs, and the like.
- In your opinion, should “tax arbitrage” be made legal? Discuss and provide examples.an ideal tax system should conform to certain principles. which of the following statement is not generally regarded as a principle of an ideal tax a - it should be convenient in terms of timing and payment b - it should raise as much money as possible for the government c - it should not be arbitrary, it should be certain d - it should be fair to different individuals and should reflect a persons ability to payIf you will be a taxpayer, how do you want to pay your taxes? Focus on the administrative feasibility among the principles of sound tax system.
- If a government wants to obtain the maximum tax revenue it should A. use static tax analysis. B. not assess the highest possible tax rate. C. assess the highest possible tax rate. D. use an ad valorem system for collecting taxes.Explain each of the following statements independently: a. Tax systems should be fair. b. The tax calculation will not be correct whenever income tax preferences exist. c. Fiscal policies are used to judge tax systems and achieve government objectives.Describe the different taxes that government uses to collect revenue.
