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See all the wonderful things Milena  has made

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Taxation and Achieving Economic and Social Aims

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Taxation and Achieving Economic and Social Aims

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Increase taxes to decrease consumption

Impose a levy to discourage waste

Financial aid to boost enterprise

Create infrastruture to enable people and companies to cohesively achieve national aims impose fines on anti-social behaviour

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Tax on transactions and spending

Advantages

Evasion is more difficult

No disincentive to work

Government can change consumption patterns

Economical

Built-in stabiliser

Disadvantages
Will increase inflation
Inequitable /Regressive
Revenue collected is not as predictable as direct taxation
Burden of collection is passed on to the retailers/traders

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Tax avoidance is arranging one's affairs within the law so as to minimise tax liabilities.

Tax evasion is reducing tax liabilities by making false returns or not making any returns at all.

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Imposition of tax refers to a person, firm or good/service on which the tax is levied

The incidence of taxation refers to the individual which actually pays the tax

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Advantages

Government revenue

Encourage innovation (promote green industries)

More efficient use of resources

Help pay towards carbon footprint

Disadvantages
Inflationary pressures
Loss of competitiveness
Decrease in standard of living
Regressive form of taxation

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Reasons in favour of a reduction in capital expenditure

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Reasons in favour of a reduction in capital expenditure

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Reduction in state borrowing and reduce the national debt

New infrastructure is already in place

Private sector is already providing necessary infrastructure

Spending would be in line with other European countries

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Third Level students contributing to the costs of their higher level education

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Third Level students contributing to the costs of their higher level education

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Advantages
Opportunity cost for the government
Positive effect on third level institutions
Reduced cost for taxpayers

Disadvantages

Discourage people from attending

Reduce skills of population

Reduced incentive to invest

Increased debt level

Inequitable

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Economic benefits on imposing tax on sugary foods

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Economic benefits on imposing tax on sugary foods

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Revenue for the state

Help fund health initiatives

Reduce consumption on sugary foods

Help reduce future health costs

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Advantages of the introduction of Household charges 

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Advantages of the introduction of Household charges 

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Government revenue

Stable tax

Less need to raise direct taxes

Economic

Ease introduction of property tax

Government planning (revenue is certain)

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Economic Impact of an increase in Motor Tax

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Economic Impact of an increase in Motor Tax

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Increased tax revenue for the local authority

Reduced disposable income for consumers

No incentive for purchasing environmentally friendly cars

Possible closures in car dealerships

Better for the environment

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Why the Government increases tax on cigarettes and alcohol 

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Why the Government increases tax on cigarettes and alcohol 

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To discourage smoking and alcohol consumption

To reduce health care costs

To reduce absenteeism from work

To increase revenue from these taxes

To specifically target the consumption of alcohol and tobacco in young people

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The Government Budget Reducing Income Inequalities

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The Government Budget Reducing Income Inequalities

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Welfare benefits increased/maintained

Tax changes

Wealth tax

Target universal entitlements

Increase minimum wage

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All economic activity which goes unrecorded and is not included in the National Income Accounts

Reasons of the growth in the Black Economy:

Reduced disposable income

Increased VAT rates

Unemployment

Disillusionment with government

Effects on the Exchequer:

Loss of tax revenue

Increased government expenditure (law enforcement)

Unemployment bill is higher

Decline in legitimate business activity

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Tax on income and wealth

Advantages:

Equitable

Convenient for the taxpayer

Revenue collected is certain

Built-in Stalbilser

Economical (cost of collection is borne by the employer not the government)

Disadvantages

Disincentive to work

Small amount of people paying lots of tax (high income earners)

Growth in the Black Economy

Burden of collection is passed on to employers and investors

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Convenience - Tax should be collected in a way and time that is convenient to a taxpayer

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Certainty - taxpayers should know when they are paying a tax and how much they are paying

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Economic - revenue received should be greater than cost of collection

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Equity - taking a higher proportion of income in tax as income rises