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What is the principle of tax policy efficient?

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تم إضافة السؤال من قبل georgei assi , مدير حسابات , المجموعة السورية
تاريخ النشر: 2015/04/05
خالد محمود إبراهيم همام
من قبل خالد محمود إبراهيم همام , Customer Service Agent , Raya Contact Center

you have to pay your tax because it will get back to you as a Service

georgei assi
من قبل georgei assi , مدير حسابات , المجموعة السورية

- The distribution of the tax burden on individuals, taking into account the relative conditions in terms of their ability to pay.

- Provide sufficient proceeds for general expenses.

- The collection of taxes in the dates and methods appropriate for the financiers without fatigue or complacency on the one hand and to facilitate the escape of the other hand.

Ibrahim Hussein Mayaleh
من قبل Ibrahim Hussein Mayaleh , Sales & Business Consultant and Trainer , Self-employed

Thank you for the invitation, but I am not a TAX man and leave the answer to the experts

jadima asis
من قبل jadima asis , Bookkeeper Manager , Bacolod City National High School

The Policy has always two goals 

First  - A tax system achieves tax efficiency when it minimizes the costs to the economy of tax collection.

Second - A tax system achieves tax fairness or tax equity, when the right people actually bear the burden of taxes.

 

 

 

 

 

 

 

 

 

 

Taxation is a system that the government uses to collect taxes from people and businesses, based on their income, assets, or transaction values. The primary purpose of taxation is to raise revenue for the government, although the government does use taxes to promote beneficial activities, such as starting a business or getting an education, or to limit undesirable behavior, such as smoking and drinking alcoholic beverages.

Taxpayers do not like to take the time and effort to comply with the tax code nor do they want to pay taxes. To palliate the effects of taxation on the people, tax policy at least nominally strives to achieve2 objectives: efficiency and equity.

Tax Efficiency

Tax efficiency minimizes the cost of complying with the tax code by reducing its administrative burden and by minimizing any distortions in the economy caused by the tax. Reducing the administrative burden not only benefits the taxpayers but also the economy since tax collection is not an objective of tax policy, but simply a requirement. Although tax accountants and lawyers help people to comply with the tax code and reduce their taxes, their work has no true economic worth since the need for their help could be eliminated by simplifying the tax code and facilitating the filing of taxes.

Besides trying to promote or limit certain activities, much of the complexity of the tax code results from Congress giving preferential treatment to particular groups, especially the wealthy and businesses. This preferential treatment is provided not only in the way that the tax is basically structured, but also in the form of tax loopholes, which allows taxpayers to take advantage of weaknesses in how the laws are actually worded to circumvent them, thus lowering their taxes in a way that Congress may or may not have intended.

Loopholes exist partly because of the complexity of the tax code, but, often, they are inserted intentionally so that the wealthy can use their lawyers to take advantage of them. For instance, there are many obvious loopholes in the taxing of gratuitous transfers that the wealthy take advantage of year after year. Indeed, a large body of law has developed allowing the wealthy to transfer their wealth at a far lower tax rate than what is assessed on working income — in many cases, they can transfer their entire wealth tax-free.

Another objective of tax policy that is little heeded is that deadweight losses should be minimized. Although the cost of complying with the tax code does generate some deadweight losses, most deadweight losses are incurred by the actual tax itself, especially when it is assessed on working income.

Another often stated objective of tax policy is that taxes should not distort economic decisions, which occurs when people decide to do something differently because of the tax. For instance, high taxes on working income discourages work because it raises the price of labor for employers and decreases the disposable income for workers. That higher prices reduces demand and lower prices decreases supply are well-established economic principles, yet working income is taxed more than investment income or gratuitous transfers. There is no economic distortion from taxes on gratuitous transfers, because everyone dies eventually, regardless of any tax. Furthermore, there is no dead weight loss from gratuitous transfer taxes. As economists like to say, the supply of death is totally inelastic, while the demand for gratuitous transfers is totally elastic, because the beneficiaries do not have to do anything to receive their gift. Nonetheless, preferential treatment is given to gratuitous transfers because it benefits the wealthy.

محمد صافي
من قبل محمد صافي , Financial Manager , Toledo Hotel

1. Equality.    Mean higher earner pay higher tax and lower earner pay lower tax

2. Certainty. Tax policy should be very clear and straight forward.Every one can easily understand and know that how much tax he is required to pay & at what rate time of payment etc .

Muhammad Adeel
من قبل Muhammad Adeel , Sales And Marketing Executive , TANZEEM HEAVY EQUIPMENT RENTAL LLC

The efficiency principle lays the theoretical groundwork for cost-benefit analysis, which is how most critical business decisions regarding the allocation of resources are made.

Muhammd Gul
من قبل Muhammd Gul , Finance Manager , Institute of Social and Policy Sciences (I-SAPS)

A Good Tax Policy play an effective role in the collection of tax revenue. A Efficient tax policy should based on the following features.:

 

1. Equality.    Mean higher earner pay higher tax and lower earner pay lower tax

2. Certainty. Tax policy should be very clear and straight forward.Every one can easily understand and know that how much tax he is required to pay & at what rate time of payment etc .

3. Convenience. Tax payment procedure should be very easy. filing of Return form is very simple and assess-able.

4.Economy.  Cost of Tax collection should be less than the amount of tax collection.

Najia Abid
من قبل Najia Abid , Finance Manager/ Chief Of Accounts , MN Fabric

The efficiency is to save the Tax of company withen legal limits

HARIMOHAN PRASAD
من قبل HARIMOHAN PRASAD , Accountant , SWARN INDIA MULTISTATE CREDIT CO-OPERATIVE SOCIETY LTD. SOCIETY LTD

is a system that the government uses to collect taxes from people and businesses, based on their income, assets, or transaction values. The primary purpose of taxation is to raise revenue for the government, although the government does use taxes to promote beneficial activities, such as starting a business or getting an education, or to limit undesirable behavior, such as smoking and drinking alcoholic beverages.

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