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Taxed 2 expediency theory or financial theory this 2

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Unformatted text preview: pediency Theory or Financial Theory: This 2. theory aims at attaining maximum amount of revenue rather on the proper distribution of the burden of taxation. taxation. 3. Socio-Political Theory: Adolf Wagner's advocated 3. that it is not the expediency but final social and political objectives which should be the deciding factors. A tax policy should not be designed to serve the needs of the individual members of the society. It should be used for the benefit of the society in so far as it is possible. as 22 Theories of Taxation: Theories He favored the idea of using taxation as an important means of causing reduction of income inequalities in : society. In order to attain this purpose he stated that all small incomes should be exempted from taxation. And the government had the right to control the ownership or property and the right to inheritance in the interest of the society as a whole. whole. 4. Benefit Received Theory: According to this 4. Benefit theory, the burden of tax must be imposed in proportion to the benefit received by a taxproportion payer from the expenditure incurred by the payer government financed from tax receipts. government 23...
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