Objectives of taxation - Financial Guides

Tax collecting is regarded as one of the oldest activities of government. In the new constitution of 1787, it was clearly provided that congress "shall have power to lay and collect taxes, duties, imposts and excises." The Sixteenth Amendment in 1915, authorized Congress "to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several states, and without regard to any census or enumeration." Raising revenue is one of the traditional objectives of taxation, since most new tax measures aim at financing new or expanding governmental activities. However, apart from the financial objectives of taxation. Thus the protective tariff is an example of a non- financial tax, having as its aim, the protection of domestic industry against competition from goods manufactured in foreign countries at law prices, by placing a high tax on their import into the U.S.

Objectives of International Taxation - MBA Knowledge Base

The fiscal and nonfiscal objectives of taxation do not agree with one another.

The main objective of taxation is raising ..

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Discuss the twin objectives of taxation

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The fundamental objective of taxation is to finance government expenditure
The main objectives of International Taxation are the Neutrality and Equity

There are three main objectives of taxation.

taxation represents a transfer of resources from citizens to government. Without it government could not function. Taxation is divided into indirect taxes (levied on sales of goods and other transactions) and direct taxes (levied primarily on persons). The original objective of taxation was to raise revenue to finance public expenditure, often on wars, but taxes have subsequently been adopted (especially tariffs) to protect domestic industries and, in the 20th cent., used as an instrument for the redistribution of income. The advent of Keynesian economics in the post-Second World War period has seen taxation used as a tool of macro-economic policy with rates varied as a stabilizer against economic fluctuations. There has also been a tradition of taxes at urban and regional levels to finance local expenditures.

and the non-revenue objectives of taxation), and how those constraints might be reduced

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Functions & Objectives of Taxation in general and Income Tax in particular

Objectives Of Tax | Accounting-Management

At a time when tax law tended to be neglected by university law faculties, Tiley, almost single-handedly, kept it going as an academic subject. His Revenue Law, first published in 1976, included an introductory section discussing such issues as the objectives of taxation, the criteria used in designing tax systems and how different schools of economic thought have influenced thinking. The book is now in its 7th edition.