Part of the Veterans Today Network (VTN). VTN is a full service media, information, marketing and promotion network managed by dedicated people that serve the U.S. Military Veterans Community

With over 2,000,000 plus unique visitors with millions more of page hits per month, our media network is now the largest network for U.S. Veterans in the United States of America.

As we continue forward, our people from all over the world work to bring dynamic interactive content, information, services, and products to serve our U.S. Military Veterans market contributing to the greater good of our dynamic community.

Created in 2003, the network has each and every year as it gained acceptance in this niche marketplace and now is the largest, brightest and most dynamic in the USA.

So click around the links and access our network of U.S. Military and Veterans sites. We stand proud of promoting our network that stands for and supports U.S. Military Veterans.


View Latest Posts >>>

4 Principles of taxation you should know

When the government introduced taxation system, they put on some principles in order to serve the people really well. There are different principles of taxation that had been made for several years, but the four major principles are popularly known to the economists throughout the world.  

Main purpose of taxation

Most people want to avoid paying the tax to the government. If it would have been intentional, then there had been very less people who would be willing to pay their taxes to the government. This is the reason why many people still do not understand the importance of taxation, however they only find the government that wants them to pay the due tax at any cost. You need to pay your taxes on time because the government will need the money in order to stay afloat. The government will be using this money for the construction of, roads, offices, schools and much more.

Tax

4 Principles related to taxation system

Read on to know about the 4 principles related to taxation system.

     1. Efficiency– This principle of taxation system discusses about the entire cost of collecting the taxes that should be very much of creating taxation system. The costs that have been discussed are divided into administrative and compliance costs. The administrative costs are intended at guarantying that the government plays its important role like cost of printing forms, employment of tax officials and much more. The compliance costs will be acquired by the taxpayer in a proposal to be sure that the tax has already been paid.

    2.Equity – Another important principle of taxation is equity. This principle specifies that the taxation system should be in a way that the wealth is reallocated to the poor people from the rich so that the people may be able to pay as per their capacity. This principle has brought progressive taxation system in various countries.

     3.Flexibility – The third principle is flexibility. The tax system should not be firm, however it should be flexible so that in case there is any kind of change in the economy that demand changes in tax laws, it should be quite easy to make the necessary changes. A tax system in which it is extremely difficult for making the changes to legislation on tax can be very difficult to run.

     4.Certainty – The last principle of taxation is certainty. In spite the fact that the taxation system should be flexible for allowing the necessary changes, it need not be liquefied. A good taxation system is the one that is firm which will enable to forecast easily how the situation is going to be in the coming years. This is very important since it makes a sense of stability , particularly for the investors.

Thus, these are the four taxation principles that are very much needed for any country if the country is eagerly looking ahead to grow in the future. If you are residing in the beautiful place balled Malta, then you need to know about taxation in Malta properly so that you may pay your taxes on time.

twittergoogle_plusredditpinterestlinkedinmail

Related Posts:



The views expressed herein are the views of the author exclusively and not necessarily the views of Money News Now or any other Money News Now authors, affiliates, advertisers, sponsors or partners and technicians. Notices

Posted by on 12:32 pm, With 0 Reads, Filed under Personal Finance. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Comments Closed

You must be logged in to post a comment Login


TOP 50 READ ARTICLES THIS MONTH
From Veterans Today Network