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Uploaded by
DrLanWan
Course
BUSN2022
Pages
2
Subject
Economics
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Question

Question 1

a) Explain the criteria used to evaluate a taxation system.

b) Evaluate income taxes and GST against those criteria.

Question 2

Effective government has a critical role to play in ensuring the well-being of its citizens.

a) What are the reasons for government (public) spending?

b) Briefly explain the tensions between the advantages and the disadvantages citizens experience from the amount of government spending. (Hint: Think about taxation and government intervention).

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Solution Preview

i. Simplicity: The tax law should be simple so that taxpayers understand the rules and can comply with them correctly and in a cost-efficient manner.

ii. Certainty: The tax rules should clearly specify when that tax is to be paid, and how the amount to be paid is to be determined.

iii. Equity: People should pay their taxes according to their taxable capacity or faculty as measured by some criteria, usually

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