Introduction vii
Table of content xii
Bibliographic entries 1
Author index 4
Chronological index 5
Source index 6
Introduction
This complication dealt with taxation as a subject its principles, objectives, classes, purpose and effect in any given economy weather.
Taxation is a compulsory but non-punitive levy on properties, income of individual and co-operation bodies. The money raised there constitutes part of source of finance for general government expenditure in the economy. It involves transfer of resources or income from private sector to the public sector in order to accomplish or achieve some of the major economic social and economic responsibilities under taken by the government.
System of taxation taxes are classified as progressive proportional or regressive according to the percentage of income they take as income raises or fails.
Progressive Tax System: Under the progressive taxation, the higher the proportion of income, which is taken away as tax and lower the income, the proportion of income taken away an increasing proportion of raises.
Proportional Tax System: This system whereby the rate of taxation is the small for all human earners.
Regressive Tax System: The higher the income the lower the percentage income which is taken away as tax. Regressive taxation s common where the rich and poor have to pay some amount of money as tax, either directly as poll tax indirectly in the form of higher prices. A goods and services consumed by both the rich and the poor. In west Africa most taxes are regressive since people in the various communities are usually asked to pay certain fixed sum of money toward certain development project. Irrespective of income and also since indirect taxes like import and export duties from a greater proportion of government revenues.
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