Tax As A Means Of Control And Stimulator Of The Economy In The Uk. Is It A Good Idea To Fluctuate The Tax Rates For Stabilizing The Economy? Is Tax Necessary For A Country’s Growth? Is Green Tax Helping Us Living Healthier?

9199 words - 37 pages

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TAX AS A MEANS OF CONTROL AND STIMULATOR OF THE ECONOMYCONTENTSPageAbstract 2Chapter1: Introduction 3Chapter 2: Literature review 52.1: Equity of tax on society 52.2: Fluctuating tax rates to control and stabilize the economy 62.3: Tax rates adjusted and used to promote growth 82.4: Effects of green tax policy 9Chapter 3: Research Methodology: 11Chapter 4: Analysis of findings 14Chapter 5: Conclusion and recommendations 18References: 21Bibliography: 23Appendices: 28ABSTRACTThe general definition of tax is a financial charge or levy imposed by the government of a state to the taxpayers of the state. Almost everything changes over time, but the system of collecting tax has been unchanged for hundreds of years. From the tax history of England in medieval times, the peasants had to pay tax which was 10% of the value of what they had farmed. This indicates that this concept of tax is historical and the collectors of tax have been using this system to control the economy of citizens as well as the country they ruled. In more recent time, the government impose tax to those citizens only who are required to pay tax by law. Unlike past times when tax was charged on the goods that the peasants used to cultivate, now it is only charged financially and direct taxes are charged to only those people who have certain limits of income. For this reason some people find tax to be fair and others object it as unfair.This paper carries a research regarding the equity or fairness of tax and its controlling power and stimulating effect on the economy. The research focuses on certain aspects of UK taxation and clearly illustrates how tax could ideally be used by the government as a tool for control. The paper analyses other's findings on fairness of tax, effects of green tax, tax rates fluctuating to control the economy, and tow tax rates could promote growth. There is also illustration of the research performed in obtaining the goals of this paper. By analysing the overall findings, viable conclusions are made on the topic.Chapter 1: INTRODUCTIONThe general definition of tax is a financial charge or levy imposed by the government of a state to the taxpayers of the state. Almost everything changes over time, but the system of collecting tax has been unchanged for hundreds of years. From the tax history of England in medieval times, the peasants had to pay tax which was 10% of the value of what they had farmed. This indicates that this concept of tax is historical and the collectors of tax have been using this system to control the economy of citizens as well as the country they ruled. In more recent time, the government impose tax to those citizens only who are required to pay tax by law. Unlike past times when tax was charged on the goods that the peasants used to cultivate, now it is only charged financially and direct taxes are charged to only those people who have certain limits of income. For this reason some people find tax to be fair and others object...

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