Assume you are a fresh graduate from UPSA with Public Finance as one of your specializations. You have been employed by the Ministry of Finance in your country. The government of your country is in the process of designing a better tax system in order to maximize revenue for accelerated economic development. Your superior has assigned you the task of assisting in designing the new tax system. Discuss what a good tax system would require and explain the specific economic challenges that affect taxation in your country.

Assume you are a fresh graduate from UPSA with Public Finance as one of your specializations. You have been employed by the Ministry of Finance in your country. The government of your country is in the process of designing a better tax system in order to maximize revenue for accelerated economic development. Your superior has assigned you the task of assisting in designing the new tax system. Discuss what a good tax system would require and explain the specific economic challenges that affect taxation in your country.

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter16: Multijurisdictional Taxation

Section: Chapter Questions

Problem 5RP

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Assume you are a fresh graduate from UPSA with Public Finance as one of your specializations. You have been employed by the Ministry of Finance in your country. The government of your country is in the process of designing a better tax system in order to maximize revenue for accelerated economic development. a. Your superior has assigned you the task of assisting in designing the new tax system. Discuss what a good tax system would require and explain the specific economic challenges that affect taxation in your country. b. Explain two (2) major reasons why the incidence of taxation should be of paramount importance to the Government. c. Discuss four (4) major recommendations you would offer a neigbouring country that is in the process of introducing VAT in their country.
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Assuming that you are watching a television programme dubbed “Taxation; an essential fiscal policy tool for moblizing resources for socio-economic development that has helped and hurt economies the world over including Ghana” with your dad who is fully aware that you are a Level 300 BBA Accounting student who has scored an “A” in Principles and Practice of Taxation Course. On the programme, avocates and economists for taxation are unanimous on the view that taxation is an essential tool for mobilizing resources for socio-economic development and in particular for a middle-income country such as Ghana, hence should be prioritized over both public and private business incentives. On the contrary, some critics especially political analysts, have argued that that governments over the world should rather create enabling environment for private businesses to flourish including granting tax incentives as a way of creating jobs for the unemployed youth and that governments should not directly…
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