Purpose of Taxation?


The purpose of taxation is to raise revenues for the functioning and running of the government machineries. Taxation also improves the services the government offers to its people and also increases the quantum of revenue collection.
Q&A Related to "Purpose of Taxation?"
OBJECTIVES FOR THE TAX SYSTEM. The Labour Government has identified six main objectives for its tax system - these are summarised below. To keep the overall tax burden as low as possible
To accumulate funds for the functioning of the government machineries. Improvement
The purpose of taxation in general is for the government to raise money. The federal income tax, the way it is set up, also tries to achieve "social goals," such as taxing
Rental income has to be taxed under the head 'income from house property'. Deductions are available under Section 23 and 24 of the Act. It may be noted that a deduction is available
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Ask.com Answer for: what is the purpose of taxation
Purpose of Taxes
Oliver Wendell Holmes, a former Supreme Court justice, once said that "taxes are what we pay for a civilized society." Taxes are the charges that the government levies on individuals and companies living and working within its boundaries. The government... More »
Source: www.ehow.com
There are several purposes of taxation such as to accumulate funds for the function of the government machineries, to improve services of the government, improve employment at all industry verticals, induction of modern technology in to the system, rationalization of terms and condition of the economic system and rationalization of employment terms and conditions.
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