Each of the functions fulfilled by the taxation instrument is a manifestation of an internal feature, an indicator or trait or this economic category. However, most treaties look at place of effective management and control. Non-fiscally, they are used as ameans of potentially ... tax system, and the internal closure of the tax sys-tem, demands that individual taxes relating to various Taxation Taxation Taxation The functions of taxation illustrate its social purpose of the value-based distribution and redistribution of income. Another purpose of taxation is redistribution of wealth, according to Encyclopaedia Britannica. Tax can be used by governments to affect: Inflation. Notes Quiz. Corrective Tax: -these have specific purposes such as promoting or discouraging certain behavior. While this purpose is somewhat controversial, it is common in the United States for some amount of tax money to go toward social welfare programs. Here everyone pays the same % of tax regardless of income, - e.g., VAT on a computer is the same regardless of your income, The tax levels (% of earnings) remain the same regardless of income levels, Download all ACCA course notes, track your progress, option to buy premium content and subscribe to eNewsletters and recaps.
Previous Next. The national government also spends the earned revenue for the justice system and regulation. for US tax purposes.
But your tax money isn't just going toward fancy shindigs at the White House (although, to be clear, it's used for that, too). Taxes are levied in almost every country of the world, primarily to raise revenue for government expenditures, although they serve other purposes as well. Transfers Factor Income Disposable Income …

Higher tax levels should decrease inflation, (People have LESS money to spend due to HIGHER tax, therefore sellers DECREASE prices ... Inflation decreases), Higher tax levels should increase employment (if spent by governments in the right way! Preparation of Income Tax Return of an Individual 1.3. ), - saving by offering ISAs (individual savings accounts), - charitable donations by offering Gift Aid tax relief, - new businesses by offering investment tax relief, - motoring (causing air pollution) by fuel duties, - drinking alcohol by imposing high duties etc, Higher earners pay a lower % of their earnings as tax, Ad Valorem Principle

Another reason is that taxation assists in reducing consumption of unwanted goods. Net Export Savings Consumer Spending HOUSEHOLDS GOVERNMENT SECTOR FIRMS Taxation. Overseas Sector Producer Investment BANKS7 Government Spending Taxation.


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