UK Budget & Taxation Theory

UK Budget & Taxation Theory

UK Budget & Taxation Theory

“Fairness” In Taxation Theory

Fairness is one of the most important principles of taxation. There is also a point of view according to which the principle of tax equity generally recognized as important in a number of taxes to the principles of Adam Smith. In any case, the triumph of the principle of justice is one of the priorities of a modern taxation. Of course, it is possible to agree with the opinion that a fair tax system - the ideal dream of every state and society, which had not yet reached any state of the world. To this end, human civilization has been going on a century, and in front of her is still a long way to go.

Imperfection of the tax system invariably causes and will cause any criticism of fiscal institutions in society. However, irrespective of the search for a rational, efficient and equitable taxation should continue.

This category is difficult to determine. Of the term "justice" can be solved with the legal, economic, social, moral, and other items. For example, some authors include tax equity to generally accepted principles of economic theory. This is explained by the fact that the category of justice as a complex and multifaceted phenomenon, being universal, is actually a universal criterion of values. (Thomas, 2011)

British tax efficient tax system should include various sources of tax revenue. Such a scheme has the flexibility to help achieve the objectives it sets itself, no part of the tax base is used excessively. The main source of revenue for the federal government of England is the income tax individualists. Come, then, contributions to unemployment insurance, sales taxes and taxes on corporate profits. These revenue sources are considered, with the exception of contributions to employment insurance for workers, which are related to employment insurance benefits. Studies show that the subject of taxation tax regime in England is highly progressive.

Direct taxes on individuals' tax on personal income is the primary source of government revenue England. This scheme also constitutes the main tool used to achieve the goal of equity tax. Three key principles underlying the income tax for individuals: - Individuals whose status and income are equivalent should pay the same amount of tax - The particular situation of taxpayers must be taken into account in order to that two Britishers whose income is equal but not the same ability to pay because of special needs, pay an amount reflecting their different tax situations - The tax system should be progressive. In other words, the percentage of income to be paid in taxes rises with income. The determination of the ability under the British tax system is based on the total income. Are part of the wage and salary income, income from self-employment and capital income such as dividends, interest and capital gains.

For the purposes of various economic and social objectives, sources of income may not be fully subject to ...