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Cost Accounting Notes for B.Com Part 2

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Anonymous15 June 2019 at 09:27
b.com
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Shoaib rao21 June 2019 at 18:21
Nice
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Objectives of Taxation

Objectives Of Taxation The basic objective of taxation is to raise resources for the State. Different objectives of taxation may be summed up as under: Objective of raising revenue: The basic and primary objective of taxation is raising revenue. Enormous amount needed by modern governments for National defence, creation of infrastructure and social upliftment schemes make regular and systematic resource mobilization compulsory. Regulatory objectives: Taxation performs an important regulatory role in different socio economic aspects. Regulatory consumption: State can discourage consumption of harmful and undesirable goods by levying prohibitive rates of tax. Regulatory production: Production may be encourages by exempting new industries from tax for someone, reducing tax on capital goods, increasing tax on imported goods to encourage local production, etc. Regulating imports and ...

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