A
government or a state cannot survive without the financial support. It cannot
provide comfortable living to its
citizen unless it allocates enough funds for
the
implementation of
necessary services. But how will the government
raises income?
Every nation has its own way in raising enough
income and the most universal is
through taxation.
taxation is the process or means by which the government,
through its law making body raises income to defray necessary expenses.
(Ballada, 2). It is an inherent sovereignty which the government tax its
citizen and properties within its territory.
In Philippine settings, taxation is strongly implemented and everyone is
enforced to pay their obligation in the country. With the aid of government tax
agency, implementation of tax collection is fast and under control.
More summaries about the income taxation