Taxation; What makes Good Tax

Taxes are the payments by citizens to the state. They are used to pay for all the services by government. If tax amount is not collected, government won’t have any money to operate.  Taxes are the bitter truth of our life. They are inevitable, so it is better that being a responsible citizen we accept them rather than trying to avoid them. As Mark Twain once said: there were only two things in life that were as certain as the dawn, death and taxes”.

Although all people realize the importance of taxes, but many complain about the method it is calculated and the rate of tax.  Inorder to make taxes acceptable and good for all, there are three things which should be applied on all taxes:

Taxes should be Equitable

Most American believes that taxes should be fair. They should be same rate of taxes for everyone i.e. a flat tax.  Other people believe that it is not fair to charge same amount of tax from both rich and poor. Another issue that tax payer feels is the loopholes in taxation process, by which many people avoid paying taxes.

Taxes Should be Simple

Another important standard which makes tax a good tax is simplicity. The tax procedures should be written in a way that both the taxpayer and the tax collector can understand them. Sometimes the tax procedures are written in such a way that it is difficult for the tax payer to comprehend it.

Taxes should be Efficient

Efficiency is the final principle of taxation. A tax should be easy to administer and to gain money from.


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By |2016-05-16T21:47:33+00:00May 16th, 2016|Blog|0 Comments

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