prepare and submit a term paper on The Advantages of Taxpaying. Your paper should be a minimum of 750 words in length.

You will prepare and submit a term paper on The Advantages of Taxpaying. Your paper should be a minimum of 750 words in length. Tax revenue collected by the governments is utilizing for various important purposes such as the development of infrastructure, health services, public services and much other community services1. The government of any nation largely relies on the tax revenue for the overall socio-economic development of the nation. Thus, it is the prime responsibility for the citizen of the country to honestly pay taxes at regular intervals with integrity. Discussion It has widely been considered that tax is a vital tool for the economic as well as social development of any nation. However, every person is not liable for paying taxes being eligible to attain the benefits of certain specified exemptions. For instance, in many nations, a person with a lower income is exempted from paying tax. Generally, people with high income are entitled to pay more tax than those with low incomes. Thus, the percentage of tax money differs from person to person depending on their income, wealth and other criteria established by the law of a particular country. Furthermore, the people are well accustomed to the fact that taxes paid by them are utilized for their community benefits. Despite, the fact, in most instances, people have been observed as quite unwilling to pay taxes to their respective tax departments. Tax, if properly used, results in economic growth, promotes healthy infrastructures, reduces inequalities and enables the most efficient use of a nation’s resources. Consequently, such activities lead towards improved living standard and healthy surrounding for all the citizens of the country2. Additionally, funds collected as a tax are invested for that activity which directly or indirectly benefits every citizen irrespective of their social or economic status.

 

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