Tuesday, April 18, 2017

Purpose of Taxation

The primary purpose of taxation on the part of the government is to provide funds or property with which to promote the general welfare and protection of its citizens. In its broadest and most general sense, taxation includes every imposition of charge or burden by the sovereign power upon persons, property, or property rights for the use and support of the government and to enable it to discharge its appropriate functions.

Aside from raising revenues for governmental needs, taxation may also be exercised to attain non-revenue objectives.

No comments:

Post a Comment