Lecture-9-Public+Revenue+ppp

Conditions element of sacrifice there is an element

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Unformatted text preview: tax. conditions Element of Sacrifice: There is an element of sacrifice in the payment of a tax. Tax is a payment to the Government: Government: Aim of tax collection of Public Welfare: It is for the benefit of the general public and for the maximum welfare of the entire community that the taxes are levied and collected. Tax revenue is spent taking in view the aggregate welfare of the society and not of a particular section of it. it. 11 Feature of Taxation Feature Tax is not at the cost of the Benefit: Tax is Tax not the cost of the benefit conferred by the Government on the public. Benefits and taxes are independent of each other. It is not guaranteed by the State to give benefits to a particular person in return of and in proportion to the payment he/she has made in the form of taxes. 12 Objectives of Taxation 1. Raising Public Revenue: The foremost objective Raising The for the imposition of taxes, that is, to collect revenue for the government. for 2. Regulation and Control: The government not only...
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This note was uploaded on 02/11/2014 for the course MANA 2028 taught by Professor Sisterennis during the Winter '12 term at Marquette.

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