Effect of progressive taxation with respect to developed & under-developed countries

Abstract

The main objective of the study is to know about the effects of progressive taxation and its where about, In order to achieve this goal we needed: To study and understand the existing taxation system of our Country. To evaluate and investigate the Impact of Personal Income Tax, Corporate Income Tax and value added tax on the Economic Growth. To Eliminate the Instability and Inequality in the Economy. To provide appropriate suggestions and solutions to their problems regarding the face-off between Economic Growth and Economic Stability for the better performance of the organization and equality in wealth distribution. To provide convenience for the Taxpayers to allow them to pay according to their Income. To compare the Taxation policies with respect to Developed & Under-Develop The main objective of the study is to know about the effects of progressive taxation and its where about, In order to achieve this goal we needed: To study and understand the existing taxation system of our Country. To evaluate and investigate the Impact of Personal Income Tax, Corporate Income Tax and value added tax on the Economic Growth. To Eliminate the Instability and Inequality in the Economy. To provide appropriate suggestions and solutions to their problems regarding the face-off between Economic Growth and Economic Stability for the better performance of the organization and equality in wealth distribution. To provide convenience for the Taxpayers to allow them to pay according to their Income. To compare the Taxation policies with respect to Developed & Under-Develop countries The relevant facts which were needed to go through this project were gathered through secondary source. That information was utilized only for Interpretations, suggestions and conclusions: Majority of the data was collected through the Ordinance of Income Tax, 2001.Some of the information regarding theoretical aspects is collected from internet as well. Every study is bound with certain limitations. The below mentioned are the constraints faced during the study of this Project. Lack of availability of sufficient information, because of the pandemic our group was unable to visit the organization and meet with The Commissioner of Federal Board of Revenue, still one of the group member managed to get it through a phone call. Poor Internet connection due to the load on the Servers. It was sometimes very inconveniencing for us to contact or discuss the progress with our Supervisor. This study was conducted in a limited time of 6 weeks which were not sufficient or enough for a project like this still we managed to complete it.