Tax System Essay Example | Topics and Well Written Essays - 1000 words

Tax System - Essay Exampleiv. Flat tax system has shown its worth in some of the countries like Russia, and some some another(prenominal) economies in transition like the Slovak republic, while some OECD nations like Italy, Greece and Mexico and actively pursuing the matteri. The population of corned people is rising, which calls for adequate arrangements for their healthcare and other social needs. In fact the corpo drift sector has already taken note of the needs of senior citizens and consequently started tuning their products and services accordingly. It is therefore duty of the government as well to supplement such efforts while making efforts for strengthening the health care facilities etceteraii. Education needs of the children are to be met with funds collected from this account. Higher education is becoming very costly now a days and change magnitude competition in the job market/ outsourcing of jobs calls for a well prepared youth.iii. Russia was the first major coun try to adopt a flat tax rate in January 2001, when it declared a flat rate of 13%. Over the next year, personal revenue jumped by 26% in real terms, and as a percentage of Russias GDP, incomes increased by a fifth. It is worth considering that if a country which has been facing series of troublesome situations for quite a while, why other developed and well placed countries cant do it. Qualifier The real dilemma is how to fix the tax slabs. While a lower tax rate qualification create incentives to work, to save and invest, to become an entrepreneur and to take risks. It might as well throw away the real benefits of such a system. On the other hand a high tax slab proves different in cases where the tax bases keep shifting particularly when globalization and opening up of economies is the key trend.Conditions for refuter Questions might be raised on fixing the tax slabs and