Essay On Tax Structure Of India

In Canada, there are three main government levels of taxation which are, Federal, through the Canadian Revenue Agency; Provincial / Territorial, through respective provincial/territorial finance or revenue departments; and Municipal, through local government. There are different types of taxes applied by these levels of government on consumers, wage earners, and businesses. The basic types of taxes include Income tax, derived from an individual's employment or a corporation's business revenues; Consumer taxes, imposed on the production, sale, or consumption of goods and services; Property taxes, derived from the sale and transfer of property, and Import / Export, based on the movement of goods across borders. The amount of tax each Canadian

Please describe the concept of “double taxation” and discuss which entity(ies) are subject to this type of taxation. (5 pts)

Taxes is when the state takes a percentage of the money you make to help the community or the state. Also one reason we get taxed is to pay off the government workers. Another reason we get taxed is to pay for the public buildings and public roads we use like libraries, schools, and highways. Finally another reason we get taxed is to help the poor or less unfortunate also to help an organization.

Because the principle of supply underlies the GST legislation. It is the fundamental precondition for liability to arise from the legislation. The definition of a supply and the mutually exclusive concepts of taxable supply, input taxed supply, and GST free supply, provide the critical element in the application of the legislation.

Many services offered to the public are funded by theses taxes, which could not be administered successfully under some other arrangement. Taxes are defined as an obligatory subsidy to state income. These subsidies are imposed by the local, state, and federal governments on workers wages and business’s financial gains or added to the cost of some

Taxes are the dollars that we pay to government to supply the services that are not or can not be provided through the free enterprise system. Taxes have been around since the beginning of organized societies. They come in various forms. Most common are income taxes both federal and local government. These taxes are assessed on the amount of income a person earns. Other taxes come in the form of user taxes; these taxes are imposed on the people that are using the goods being taxed, such as gas tax, alcohol tax, sales tax, and luxury taxes. Property taxes make up the major revenues for local and city governments. Furthering the burden of taxation are taxes that are attached to such bills as utility

The tax tends to lower the quantity of goods sold due to the price increase. The buyer does not wish to spend

Taxes - compulsory, unrequited payments to general government. Collected for the provision of social & merit goods.

Government requires fund to take care of its citizens and provide development measures within its jurisdiction. So one of the sources is levy of taxes in direct and indirect form. Irrespective of Tom, Dick and Harry , one cannot avoid the taxes. Before getting into know about how you directly pay taxes, lets look how indirect tax goes from your pocket.

There are lot of concerns to this issue. Why is the government imposing this tax and proposing to the community? Why are people against this tax? People are against it

All over the world, governments undertake huge public expenditure on behalf of their citizens for the provision of basic amenities and other social services. To meet up with these responsibilities, governments thus require substantial amount of funds. Among the various sources from which can generate income, taxes are the most important and most reliable; contributing much more than any other source. A tax therefore, is a compulsory levy imposed by the government on the income, profit or wealth of an individual, family, community, Taxation is the inherent power of the state, exercised through the legislature, to impose financial burdens upon subject within its jurisdiction for the purpose of raising revenues to carry out the legitimate duties of government (Kenned & John, 2014)

It is a direct tax, because any tax that is payed to the government such as homeowners payments, property tax. They taxes are paid directly to the government.

An Economic Reforms Priority research report issued by the Grattan Institute dissects the possible benefits of tinkering with GST. It calculates that the GST-exempt goods and services equate to about 40 per cent of consumer spending, which means the government gives up about $30 billion a year in revenue. The institute recommends the GST be applied to all of these exempt goods, thus the additional revenue could fund substantial income and corporate tax cuts that would increase economic growth. This would raise an extra $31 billion a year in revenue and add $20 billion a year to the economy or an extra $870 a year income for everyone. The tax system would be far simpler for the Australian people.

The Howard Liberal Government introduced the Goods and Services Tax (GST) in 2000, as part of the A New Tax System (ANTS). It currently exists as 10% consumption tax on most goods and services sold or consumed in Australia with notable exceptions on fresh foods, education and health. In a radio interview, former PM John Howard explained his preference for minimal exemption and the necessity to pass the bill through senate required the government to negotiate with the Australian Democrats (Reynold 2000). In its current form, the GST has bipartisan support due to its relative success. Recently the need for more revenue for States to

When the GATT made the distinction between the two taxes, value added taxes or VATs were rarely used. Since the VAT replaced the EU’s multi-stage sales tax system, the GATT classified the VAT as an indirect tax. This was a mistake on the GATT’s part as Hufbauer author of The Foreign Sales Corporation Drama: Reaching the Last Act? explains “GATT alchemy transforms a series of