TAXATION CASES

Solicitor Ex Judis


Taxation Cases

Taxation is the process of collecting tax by the government from the people to fund the government services and public expenditures. Taxes may be direct or indirect and may be paid in money or as its labour equivalent. Taxation occurs on both physical assets and events. Physical assets can be property and events can be sale of product or services. The government compels taxation through an implicit or explicit threat or force through a law known as taxation laws.

Under the taxation laws, the individual or the company make payment to the government based upon the income earned, property owned, capital gains made or expenditure incurred on domestic and imported articles and services availed or offered.

However, there are several other principles which may be followed by the government. All the principles only act as guideline and the government decides the taxation policy with regard to the various considerations such as tax yield, equity, social and economic effects and the requirement of the country.