5. Tax is one of the ways for authorities in the public sector to raise revenue to run their projects. The British government approved several taxes including the Stamp and Tea Acts to help pay for the costs of the war. Tax assessment is the cost of being a resident . Taxation should help create new jobs, constantly strengthen and expand the country's economy, contributing to income and wealth redistribution. writing task easier. As per the law of the U.S, working as a YouTuber makes a person self-employed. The wealthy should pay higher taxes because they have the resources, they benefit more from the government, and they can help reduce deficits. (8) With the 16th Amendment being passed through the necessary steps before becoming a constitution law, the federal government was allowed to enforce taxes on its citizens and people making money. essay and paper samples. It will also help minimize "deadweight losses". The Articles of Confederation were a wartime attempt to bring the states together under federal authority. In fact, there is a way to get an original essay! The representatives from smaller states would try and enforce taxes so the larger states would have to pay much, much more; the smaller states wouldn 't have to pay much at all. Thus, leaving unregulated the area of social media and blogging business activities and unable to collect tax from the income they derived goes against the fundamental principles of tax law and makes the country loss possible public revenue. Parliament had passed the Sugar Act and Currency Act the foregoing year. The government and other policy makers have the responsibility of ensuring that the system takes into account the needs of the citizens. Yet, whatever you do or whoever you might be; regardless of your status, you cant maintain a strategic distance from taxes. Taxing was apportioned due to the size of each state; bigger states would rebel because they were paying much more taxes than a smaller state (doc. CAPM The government and other policy makers have the responsibility of ensuring that the system takes into account the needs of the citizens. Rational 5 Deficit Spending The United States uses many of these taxes in varying levels to raise the, Taxes are what we pay to live in a civilized society that is democratic, offers opportunity, and has a huge, Taxation is a levy or a charge imposed by a government on its citizens to raise revenue that finances public spending. And the act of laying tax is called taxation. IvyPanda, 31 Oct. 2020, ivypanda.com/essays/the-importance-of-tax-in-our-life/. Self-Centered Inequity Aversion and the Mass Politics of Taxation. Comparative Political Studies 49, no. Most members of the United States of America pay taxes every year. Out of those 3.6 million are active social media users. Importance of Taxation Essay: Issue in Ethiopia. Taxation systems are usually modeled in such a way that they take into consideration the social welfare of the citizens. Taxes are levied in almost every country of the world, primarily to raise revenue for government expenditures, although they serve other purposes as well. 14 (2016): 1965-1997. If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda. Digital marketing has a dynamic and changing characteristic which demands dynamic and up to date tax laws and tax administration to achieve the public needs by increasing the revenue of the country. Home / Essay Samples / Government / Taxation / Importance of Taxation Essay: Issue in Ethiopia. It suggests that tax avoidance does not against law. Of late, debt has been a prominent part of government financing, with the federal operating deficit close to forty percent of expenditures. The bottom line is that taxation should foster equal distribution of resources. However, these investment decisions are heavily . Your privacy is extremely important to us. Appendices, Thailands successful industrialization, the essay divides into seventh sections. In addition, there are several very common types of taxes: Income Tax (a percentage of individual or corporate earnings filed to the government) Sales Tax (taxes charged on certain goods and services) The majority of government expenditures go to entitlements, i.e. Tax assessment is the act of gathering cash from residents dependent on their income and property. plagiarism-free paper. That does not add up at all. (2020, October 31). Content: Effect of Taxes on Corporate Investment Decisions. Terms of serviceand Mauritius Operates A Global System Of Taxation Essay, Research Paper: Texas And The State Income Tax Essay, Discussion Of The Effectiveness Of Environmental Taxes Essay, Incomes Exempt For Taxation Purpose In Australia Essay, Research Of The Determinants Of Inflation In Education Costs Essay, The Role Of Empathy In Sociological Imagination Essay, The Heavy Weight Of Student Loans: Critical Analysis Of The Article On Forgiving Student Loan Debt Essay, Relation of Globalization in America to Gross Domestic Product Essay. Taxes are chief and vital source of revenue which user are custodies for Government delivered services. 3. Besides, digital marketing has become a new phenomenon that brings together customization and mass distribution to accomplish marketing goals, and, of course, it also becomes a major source of taxation.Marketing on the Internet has pushed the limits towards another idea of digital marketing user-centered, ubiquitous and interactive. The cash raised from tax collection bolsters the legislature and permits it to support police and courts, have a military, form and look after streets, alongside numerous different administrations. First, the proclamation has no clear provision that applies to the income derived from social media business and bloggers. Taxes help to reserve lots of programs and creation of certain developments in America, but taxes also have an affect on certain aspects of America's economy. The Townshend Acts of 1767 were also a large part of taxation. 2020. Nowadays, people are arguing about the fairness of paying more tax. In the modern corporate world, making an efficient capital allocation is one of the most important investment functions as it determines the organizations' growth potential and their ability to achieve their strategic sustainable goals. The government can also introduce taxes with the aim of aligning the behavior of various entities with a given policy. The colonists wanted representation when it came down to being taxed, but the British government would not allow it. Taxation systems are usually modeled in such a way that they take into consideration the social welfare of the citizens. This precisely is the main function of financial literacy and financial education. Deficit spending is an intentionally calculated plan included in the yearly fiscal budget of the President and Congress to help stimulate the economy (Amadeo, 2016). The simple answer to this is as follows: EVERYTHING! Increasing taxes does have an unswerving consequence towards customers, corporations, and the general economy., At the core, taxes are the mechanism by which a government is funded. The government of every country of the world had always imposed taxes on individuals or entities to pay for public spending. Tax prevents deficits which will lead to good control over both expenditure and revenue sides of government. In taxation course I have learned many things. 29 January 2017 Just send us a Write my paper request. (2020) 'The Importance of Tax in Our Life'. Deficit spending is based off the Keynesian ideology of macroeconomics which, in part, believes the government can be used to stimulate the economy. Taxing also often entails involuntary wealth transfers and re-distributes it to others. This is IvyPanda's free database of academic paper samples. Repairs, insurance, depreciation, interest and other expenses are incurred as the income is earned. They connected these people together in three ways: plundering and taking tribute from neighbouring communities; colonising; and trading. Retrieved from https://ivypanda.com/essays/the-importance-of-tax-in-our-life/. We will write a custom Critical Writing on The Importance of Tax in Our Life specifically for you for only $16.05 $11/page. Moreover, any deductions are applicable to the income derived from those business activities. By introducing the tax, the government intended to raise more money to boost its budget, rather than promote health outcomes as the leaders claimed. IvyPanda. The third essay deals with two fundamental questions: Can we find reasonable conditions for existence of an equilibrium Furthermore, country like Ethiopia has a commitment under the Addis Tax Initiative (ATI), a multi-stakeholder partnership aiming at enhancing domestic revenue mobilization (DRM) in partner countries. Taxing such amounts is to tax income when taxpayers have the greatest wherewithal to pay. Taxes are mandatory payments to government as they reallocate the resources for ability of individuals to command resources. production, subsidies and income supports disbursement. Taxes can have positive and negative features in a monetary structure. Governments make use of taxation as a tool to generate revenue, discourage undesirable behavior, reduce inequality, distribute resources and to protect local industries. Moreover, S Corporation is a small business that cannot be global. The stamp act placed a tax on all printed paper. For example, the Stamp Acts of 1765. Lawmakers in the county responded to the pressure from citizens and various lobbying groups that had reviewed the nature and effects of the proposed tax. Secondly, there are many types of taxes such as income taxes, wealth taxes, consumption Read More Skype Business Model 1581 Words | 7 Pages The British taxed us so they could get money for weapons soldiers etc. After the French and Indian War, the British government needed money to pay for the cost of protecting the colonists from the French and Indians. In corporation, employees receive take free freight benefits as a kind of motivation to employees. It contributes in achieving of social justice by re-distribution of income and in economic stability by reducing the taxes in case of recession. These acts taxed all papers, pamphlets, newspapers, and cards. We cant stay away from taxes however such a significant number of people attempt to evade taxes. According to Forbes report on 3 Dec 2018, only the top ten YouTubers make an aggregate of 180.5 Million USD by streaming videos through their respective channels. Deficit spending occurs when a government spends more money than what it takes in over a fiscal period, creating or increasing a government debt balance. Taxes are kind of like rules for the financial world that we all participate in even when we think that we are not. The federal tax system is plagued with issues: It doesn 't raise sufficient revenue to back government spending, it is unpredictable, it makes results that are unreasonable, and it impedes monetary productivity. Vol. Just like any major corporation, the government is constantly looking to raise revenue. There is a saying that there are two things that you cannot avoid in life. Lo1-2.1 11 Rood, Deborah K. The Importance of Tax Quality Control. Journal of Accountancy 219, no. And its mainly because of the factors including illicit financial flows, tax exemptions, informal sector and other tax evasions in addition to poor tax administration and revenue collection system in the country. Thence, enhancing national development through domestic revenue has a pivotal part in achieving SDG by 2030. 5). The act of taxing helps determine where people put their money. Whether the businesses are run by sole proprietors or entities organized mainly as companies, schedule C serves as the basic source of rules for taxation. The first one is a description of Thai economy in the Nineteenth century and the early Twentieth century. Taxes are levied in almost every country of the world, primarily to raise revenue for government expenditures, although they serve other purposes as well., The United States economy, as known by all, is not in its best shape. Each jurisdiction is subjected to the authority of the government above them., From as long as I could remember Taxes have always been apart of our daily lives. Taxes are amounts established in a political process of structured laws to determine how the collective cost of government services will be distributed among elements of the market economy. A tax or tariffs are funds that are paid to the government that are added when something is bought that is considered valuable. Our free knowledge base makes your Taxes are normally applied to finance government projects by raising revenue or regulating certain behaviors on the part of various entities. Remember: This essay was written and uploaded by an If there is reduction in resources then, it will automatically affect the spending. Therefore, there is a mismatching of revenue Get Access Taxation was introduced in the 19th century and exists to this very day. Teacher: Mrs. Walters Numerous supporters of taxes propose that taxation is way too punishing in the present day of monetary tendencies that occur in America. Ethiopias new tax proclamation addressed various gaps of the amended income tax proclamation to enhance the revenue of the country. The easiest and fairest way to do this is by taxing the people. "the Molasses Act colonial merchants (people who traded and owned shops in the colonies) were required to pay a tax of six-pence per gallon on the importation of foreign molasses.". The Sugar act got created in 1764. https://ivypanda.com/essays/the-importance-of-tax-in-our-life/, IvyPanda. Sofia, Why must the rich pay more tax to help the poor? Can I hire someone to write essay? Do you ever think of why should or shouldnt the rich people pay more tax than others? empirical effective federal personal income tax functions for the years 1979-1987. Soon, laws were passed that helped regulate taxes, causing tension between officials and colonists because officials clearly wouldn't address these issues. CMA(Certified Management Accountant) is a professional certification credential in the management accounting and financial management fields.The certification signifies that the person possesses knowledge in the areas of financial Planning,analysis,control,decision,support and professional ethics. There isshow more content For instance, most governments depend on their people for taxes in order to run themselves and provide services to their people. In this essay I will prove that the absence of ethics in accountancy not only undermines the very core principles of accounting which is to present fair and, The Vikings, a term used to describe the people from Scandinavia from the late eighth century until the invasion of England in 1066, were particularly influential during this period through their extensive journeys, as they reached areas as far as North America and the Middle East, linking together all the communities in between. Another objective of my thesis consists of modeling general (non-linear) income tax structures as the outcome of a politico-economic process. The importance of taxation in the process of development is unquestionable. October 31, 2020. https://ivypanda.com/essays/the-importance-of-tax-in-our-life/. And its considered as a company or sole proprietorship business. IvyPanda. Evolution of Taxation in the Constitution The Articles of Confederation To get a custom and plagiarism-free essay Price of time being, the reward for postponing spending, have ethics got to do with accounting? Tax Knowledge, Tax Complexity and Tax Compliance: Taxpayers View. Procedia-Social and Behavioral Sciences 109, no.1 (2014):1069-1075. It is apparent that the tax was meant to reduce the consumption of sweetened soft drinks with the hope that consumers would be discouraged by the increased prices of the products 2. The purpose of taxes is to fund services, i.e. The revenues generates from taxes are utilized for bidding on resources i.e. A government can also issue a public or Treasury bond to the public to finance specific project. Taxation is the most effective and important source of revenue., Discuss the features of a good tax system and review the Malaysian income tax system in relation to those relevant features. Get inspiration for your writing task, explore essay structures, Top 10 Ethiopian based YouTube channels have got around 1.5 billion views since their establishment. Unlike proc No. The tax on sweetened fizzy drinks was banned because its legitimacy was questionable. send you account related emails. Green Taxation Theory in Practice: The 2012 Reform of the Carbon Reduction Commitment. Environmental Law Review 18, no. One way in which the government gains money is by imposing taxes on people. Just insert your email and this sample will be sent to you. (Salanie, 2011) If it was not for taxation our roads, public buildings would be a complete mess. 31 October. For example, if the government needs more income at time of crisis, the tax should be capable of yielding . No wonder taxes play a major role in politics. The United States uses a taxation system which is criticized by many. The third section is an overview of economic development in Thailand since the end of the Second World War to the Asian economic crisis. Web. For example, if income from savings are not taxed, then more people will save their money, more saving schemes will come into existence, and less money will exist in the consumer marketplace, which will help lower or stabilize inflation. IvyPanda. Samplius is for students who want to get an idea for their own paper. Is it ethical and rational to tax more on rich? On the other hand, most people think that rich should pay more tax because they get more from the government. The Government needs money for the performance of a variety of functions. However, a partnership is owned by more than two persons, it is flow through entity which means the money goes throw cooperation to person account. The second section is an explanation of the perspective of labour-intensive industrialization. Within essay about tax its needed to mention thta social media is growing rapidly and becoming a new trend for businesses to reach targeted costumers easily. Foreign aid and the abundance of natural resources have similar debilitating effects on an economy. In the case under analysis, authorities in Cook County, Chicago, introduced a controversial tax on sweetened beverages in the soft drink field. Need a custom Critical Writing sample written from scratch by By 1763, taxes were increasing and being used to help with the dept of the French and Indian war (George). "The Importance of Tax in Our Life." First, the administration did not have a solid reason for introducing the tax. Taxing is huge since it Secondly, there are many types of taxes such as income taxes, wealth taxes, consumption taxes, tariffs and duties taxes. Firstly, I realized the importance of taxes in enhancing the situation of poor people and standard of living to them and helping the government in developing infrastructure or other essential projects. Our emergency services such as, law enforcement, EMT, and Fire/rescue thrive off of tax dollars, many of our healthcare offices also use tax payers money to stay open. The first constitution of the United States was actually The Articles of Confederation, which were ratified on March 1, 1781. roads, defense. The importance of taxation in the process of development is unquestionable. There are many YouTube channels, telegram channels and bloggers based in Ethiopia, but their tax issues seem unregulated. A tax can be defined as a payment to support the cost of government (Jones, 2014). When we think about economic inequality, most economists generally think about three main distinct features which are income, wealth and consumption and income inequality is the most obvious one to measure (The Economist, many different forms and sizes. This includes YouTube, Instagram, Telegram and Blogging are the most widely accessed across the world including Ethiopia. Statistics have proven that the rich have paid the majority of U.S. income taxes. Tax is very pivotal in attaining growth and development in any known human society in that help provide basic infrastructures and social amenities for the people. The income of the government through all sources is called public income. Of course, this includes individuals, private and government organizations that actively engaged in entertainment and broadcasting media. The Importance of Tax in Our Life. These laws were taxes, like the stamp act which taxed everybody. 2. The main purpose of taxation is to raise resources to finance government expenditure in a way that is administratively feasible, equitable and efficient (Burgess and Stern, 1993). The French and Indian war caused a huge debt for the British. Methodology 9 Medicare, Medicaid, and Social Security. supplies the country with its demands (http://go.galegroup.com). 1. Data on Ethiopia shows that annual growth for Internet users is at 37 percent and the number of active social media users is growing by 20 percent. The wealthy make up 1% of the population but have the most capital. Third, those who taking part in social media and blogging businesses are most of the time private individuals who do not have a business license and not registered as per the law of the country. One of the models of Digital Marketing platform is Social Media Business which addresses planning and the most important tools used to maximize communication through social media. Federal and state government budgets significantly rely on taxation as a source of revenues. There are various social media sites, and they take many different forms and contain different features. Indirect taxes such as these were also much less clear to the consumer, When it comes to the research the tax has affected the country in a negative way, simply because the war was fought because of taxes that were seen as not needed as well the fact that the country fought the British to oppose taxes, and then Washington turns around and imposes a tax on the people after what they sacrificed to fight for the right to be free of taxes and to be supportive of their new government was tough because people did not have money to pay taxes at. 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Rood, The Importance of Tax Quality Control,, Xiaobo Lu and Kenneth Scheve, Self-Centered Inequity Aversion and the Mass Politics of Taxation,. How the Burden of Government should be financed and fewer burdens. The first income tax started off by taxing individuals 3% making more than $800, while people who made more than that gave up a larger percentage. References 16 Taxes directly involve citizens in contributing to public programs run by the government5. Importance of Taxes in Society Without taxes, governments would be unable to meet the demands of their societies. But tax concerns of digital marketing specifically social media businesses like that of YouTube, Telegram in one hand and Blogging activities on the other may not have the place in the new tax proclamation No. It contains thousands of paper examples on a wide variety of topics, all donated by helpful students. However, how the people will be taxed is always an issue., Taxation, imposition of compulsory levies on individuals or entities by governments. must. Introduction The most important source of revenue of the government is tax. Taxes can often be a big burden for most, they can also be a help and used for many other functions. Although taxing more on rich seems unfair for the rich, it is necessary that rich people should pay more tax and the amount they pay are based on their incomes. Taxes! The policies are meant to ensure that the administration does not introduce laws that exploit the public in an unfair manner. The bottom line is that taxation should foster equal . Apart from Facebook and Twitter, numerous social media platforms are used by business organizations and individuals to create wealth and profit. Funds required to finance its activities are raised from various sources. "The Importance of Tax in Our Life." Want to receive an original paper on this topic? In 1861, Congress reacted by implementing taxes on individuals. Lu, Xiaobo, and Kenneth Scheve. Governments that get all their money from aid dont have that at all, said Deaton. The associated lawmakers had to introduce the tax at the point of sale, which was quite a bad choice because it would exempt all consumers using food stamps as stipulated by the law. A more relevant question to this essay would be what is poor ethics? The government has been facing challenges in raising the required funds for the budget, and it is apparent that the only option it has is the development of new taxes that help in raising the deficit. Moreover, countries experience shows that there are specific rules and regulations to administer taxation of social media and blogging businesses. Additionally, Ethiopians resident bloggers and social media business holders have many more sources of income from the worldwide base. The system used in Progressive Tax; however, many people believe the system of Flat Tax, or Proportional Tax, should be the system that is used for taxing., Why does a government tax? This is the importance of taxation essay where the topic is discussed; attention is drawn to the problem of taxation in Ethiopia. Explain how you would bring about a better tax system, particular with reference to personal taxation, if you were given such an opportunity.. Hence, the various tiers of government resort to the use of tax in ensuring they provide their social will to the people they governed. Tax collection is an administrative appraisal upon property estimation, exchanges, legacy of the perished, licenses conceding a privilege or potentially wage, and obligations on. Taxes pay for many of the things that are fundamental to functioning societies around the world, such as health care, schools, and social services. Economic efficiency Taxation plays a vital role of bringing efficient economic resources to the economic grid; taxation can also impose real economic costs. Taxes are the essential part of the government financing: CAPM identifies main two aspects for which the investor should be compensated for; price of time (or time value of money; TVM) and risk premium. click here. A tax is an important financial source for the country. ID number: COL 1283 Given that enhancing revenue through taxation serves as a primary means of financing public goods, public infrastructure and maintaining law and order. Order custom paper and save your time for priority classes! It is important to pay taxes because it brings income to the government, which is then used to build and support socialised services and develop infrastructure for the citizens. Taxation can be collected from a number of sources diagrammatically shown in the circular flow of income figure. Pensions, Health Care, and Welfare.2, Ben Franklin adequately stated the importance of taxes with his famous quote, but in the world nothing can be said to be certain except death and taxes. Citizens have vested governments with the power to tax in order to provide services for the common good. Secondly, the British made the stamp act. This type of taxation typically results from a C corporation paying tax on its taxable income and shareholders paying income tax on any dividends received from the C Corporation. For instance, in Cook County, the local government observes laws that dictate against the development of additional sales taxes on commodities7. Poor ethics amongst a business' accountants means that those persons are more willing to break the rules to benefit either themselves or their business illegally. (1) This critical writing on The Importance of Tax in Our Life was written and submitted by your fellow It plays an important role in case of economical crisis. There are many taxes that are placed on different things that everyone needs or already has. Fairness concerns (2020, October 31). The term "double taxation" refers to the taxing of the same income twice. Many politicians vehemently debate which taxation methods the government should or should not utilize. Moreover, any YouTuber can also form either LLC or Limited Liability Company but is considered as a sole proprietor.On the other han d, Indian tax law categorized any income from the social media business, blogging or website as an income from business or profession for income tax. They pay more than 70% of federal income taxes. On one hand, some experts think rich shouldnt be taxed more because somehow the money was earned. The monetary or budgetary operations of the country have various belongings on the economy. "The Importance of Tax in Our Life." Taxation has been anticipated as a means of reducing the consumption of these beverages and fast foods, thereby lowering health show more content They like to have power to choose what they can eat. 979/2016. The government of every country of the world had always imposed taxes on individuals or entities to pay for public spending. It is one of crucial projects because I will know how to calculate taxes in future as, The Importance Of Risk Management In Management. Generating Resources The most important purpose of taxation is to raise resources for governments to deliver essential public services. Saad, Natrah. Request writing assistance from a top writer in the field! Additionally, the proclamation does not talk about the status/fate of the persons who employed themselves in such business activities hence it creates a clear legal gap for tax administration. The impact of double taxation of C corporations has been substantially reduced by the . Lo1-2.2 12 Taxes are implemented by our government to raise revenues for specific purposes. The main resources of taxes which government collected from people are payroll, income from corporate and person, property, sales and excise, tariff, fee, tuition, licenses and so on. Section 2:Discussion and Analysis of Findings These things that are viewed as items that should lead to prosperity actually have the opposite effect. There are several key elements that were missing from the Articles of Confederation, which led to the need for the Constitutional Convention in 1787. One is taxes and the other is death. Section 1: Introduction According to the Congressional Budget Office, The 10% of households with the highest incomes pay more than half of all federal taxes. A government can also issue a public or Treasury bond to the public to finance specific project. However, the tax was not effective in attaining the intended health promotion objective because consumers could easily drive to the nearby towns outside the county and shop for the drinks. The Importance of Tax in Our Life. Background 7-8 Handbook of Public Economics. Collected for the provision of social & merit goods., The government enforces taxes on goods and services, in order to create benefits for the economy. This essay takes a look at why an enterprise would seek to move outside its home country. Conclusion 15 This essay also includes an examination of how these theories can be applied in practice, using the Coca-Cola company as an example, establishing the relationship between risk and return. and figure out a title and outline for your paper. average student. Samplius.com is owned and operated by RATATATA LTD 48 Vitosha Boulevard, ground floor, 1000, From the small importing/exporting company, to giants such as EY and Coca-Cola. The problem created for the taxpayer is that they are taxed before they incur related expenses. E-mail us: [emailprotected]. Government levies different types of taxes to generate revenue which financially help to run its machinery. Taxes pay for public, Taxes - compulsory, unrequited payments to general government. Because of the Civil war, there was a financial burden on the country. Karen Kaplan, a science and medicine editor at the Los Angeles Times agrees with the taxation on fast foods and soft drinks. Public administrations are charged with the development of sufficient revenue to finance programs that benefit the society; hence, they have to either raise the money through investments or apply levies on various commodities to generate the funds. Norman Harris We are glad that you like it, but you cannot copy from our website. Call us: +18883996271 Ethiopia has got its latest Income Tax Proclamation in 2016 with some amendment and modification from the previous tax proclamation No. Second, if one argued based on article 63 of the proclamation, there are pieces of evidence that show any person involved in these business activities are not paying taxes. For instance, carbon taxes are used to compel different entities to reduce the impact of their business processes on the environment1. However, she suggests. Some businesses direct customers toward their social network pages more than they direct them to their websites. Tax is generally an amount of money that is charged by a government on a product, income, or activity so that it can pay for public services. Moreover, taxation has got a central role in the development of LDC's and developing states after the adoption of Sustainable Development Goals (SDGs). Tax rates started out at 1% and rose to 6% on income over $500,000. Specifically, any other income which does not fall under the three schedules or other provisions of the proclamation will be governed by this proclamation. As there is no one perfect solution for every problem, supplementary/alternative models (APT and three factor model) will be discussed in this essay. Secondly, the intentions of the tax were concealed through the claim that the tax was meant to enhance health outcomes for the citizens of Cook County. There are many different ways for a government to tax its citizens in order to raise revenues, ranging from taxes on income, wealth, and property, to taxes on goods and services. Using tax avoidance is a simple way for big companies to increase their profits. Lawton, Amy. Taxation should in no way impede the economic development or have a negative effect on it. But still, there are many issues unsolved or needs to be updated to the addressee the contemporary tax issues of digital marketing; specifically, income from social media channels and blogs. Its quick and easy! taxation, imposition of compulsory levies on individuals or entities by governments. Moreover, taxation has got a central role in the development of LDCs and developing states after the adoption of Sustainable Development Goals (SDGs). Importance Of Taxation In India. Unfortunately, the business types under the central question of this paper are not registered and its difficult to identify them according to the words of the proclamation. Importance of CMA It's important to understand why other people get the CMA certification in . 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