The allocational theory of taxation, which analyzes the welfare losses caused by distorting taxes, dates from the very beginning of public sector economics.It has, by its very nature, always been part of the theory of the second best.

  • Inherent power of the sovereign,
  • exercised thru the legislature,
  • to impose burdens upon the subject and object within its jurisdiction,
  • for the purpose of raising revenues to carry out the legitimate objectives of the government. All tax laws should conform to the Maxims of Taxation EQUITY 1. PPT – Theory Guest Lecture 9 Taxation PowerPoint presentation | free to view - id: f1817-ZDc1Z. A number of theories have been put forward by different economists explaining how justice in taxation can be achieved among which the following are important theories of taxation and are discussed as follows : Benefit Theory of Taxation The right of the chief authority to collect taxes, and the general policy which determines who is to be taxed, how much the tax … 37 Full PDFs related to this paper. Taxation is the earliest and most prevalent form of government inter­ference with the economic life of individuals and business enter­prises. If you continue browsing the site, you agree to the use of cookies on this website. Introduction to Taxation “Taxes are the price we pay for a civilized society.” - Oliver Wendell Holmes, Jr. Theories of taxation wikipedia. You can change your ad preferences anytime. ROLE OF TAXATION. DEFINITION OF TAXATION It is the process by which the sovereign, through its lawmaking body, raises revenues used to defray expenses of government It is a way of the government in increasing its revenue under the authority of the law, purposely used to promote welfare and protection of its citizenry It is … If you continue browsing the site, you agree to the use of cookies on this website. TAXATION CONCEPTS OF TAXATION AND INCOME TAXATION. “ LIFEBLOOD THEORY” THEORY OF TAXATION 6. Ashiri Miyoga. Learn more about taxation in this article. Unfortunately, such an ideal tax system is rarely observed in the real world. These theories of taxation may, accordingly, be classified as individual theories. Ability-to-pay taxation. Next to the opinion that taxation is no burden, comes the theory that in this country our taxation is so excessive that we cmt-not enter into competition with foreign nations, and, therefore* that the principles of free trade do not apply to a country heavily taxed. Taxation is a financial charge imposed on people. . like blood which acts as a support to every human organ so it could perform every duty inside the body, tax acts as the blood which supports government and state. MAJURA Ibrahim W.,- LL.B. THEscience of taxation coillprises two subjects to which the character of pure theory may be ascribed : the laws of incidence, and the principle of equal sacrifice. 1. You can change your ad preferences anytime. TAXATION 1. The economists have put forward many theories or principles of taxation at different times to guide the state as to how justice or equity in taxation can be achieved. The tax side and the expenditure side are viewed separately. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. Taxation is a means whereby the state collects funds to pay for public services. A tax can either be proportional, progressive or regressive. theory, Negash (2002: 25) reports a negative association between tax rate variables and debt for 64 firms listed on the JSE‟s industrial sector. (1) Proportional Tax (Flat Tax): A proportional tax is a tax whose burden is the same rate regardless of the income earned by the household. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Richard W. Tresch, in Public Finance (Third Edition), 2015. • PRICE- for supply of goods & services eg supply of gas, … Actions. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Modigliani and miller's capital structure theories. Nwezeaku (2005) stated that petroleum profit tax involves the charging of tax on the incomes accruing from petroleum operations. . Things to be considered in choosing a topic for research, Reading Comprehension (Language Curriculum), Remedial English (Teaching Sight Vocabulary), No public clipboards found for this slide. It is also known as the insurance theory or the Quid Pro quo theory of taxation. Taxation - In - Theory - and - Practice - Lecture notes, lectures 1 - 10. 3.2. Theory 1038 3.3. A theory of taxation that holds that citizens should bear tax burdens in line with their ability to pay. The theory of income taxation ppt download. Taxation principles and theories | taxation in the united states. Looks like you’ve clipped this slide to already. Remove this presentation Flag as Inappropriate I Don't Like This I like this Remember as a Favorite. : a good ( may be a near-ideal ) tax system has to fulfil the following characteristics:.. 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