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Government 23 burden of taxation burden the payment

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Unformatted text preview: Burden of Taxation : Burden The payment of taxation is painful but essential process, which affects directly and indirectly the well being of the every individual and business : organization. Economists speak of money and real burden and also direct and indirect burden of taxation. The total amount of money burden of taxation refers to the amount of money income transferred from the people to public authorities by the way of taxes. On the other hand, the total direct burden of taxation refers to the amount of sacrifice imposed on the community because of the transfer of money income due to the tax. due Apart from the direct money and real burden, indirect Apart effects of particular taxes or of tax system as a whole are to be seen in the price structure, income and the volume of employment and production. 24 volume Burden of Taxation : Burden Over the century, economists have developed two approaches to taxation viz. taxation according to benefit received and taxation : according to ability to pay. The benefit approa...
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