Tax Evasion And Key Stakeholders Research Assignment (Essay Sample)

Tax Evasion
Name
Institutional Affiliation
Tax Evasion
Tax evasion scams continue to adversely rock the economy. Meanwhile key stakeholders who hold office in the revenue authority relentlessly continue to unearth the loopholes in the tax system. Tax evasion is and has undeniably been a more serious problem than social security fraud in my country. Tax evasion is the default or underpayment of tax and which is punishable by law. Investigations on tax evasion fraud point out towards relaxed policies within the tax department that allow for loopholes. Internal control weaknesses within the tax department aid in tax evasion scams. Tax officials have often been caught aiding importers and cargo transporters to evade tax. The graduated system for tax payments motivates citizens in the country to pursue dubious methods while doing business so much to avoid paying tax. Tax system is the lacking of tenets of a good tax system which include efficiency, simplicity and fairness.
Taxpayers perceive tax as a compulsory payment imposed by the government to the government for the government rather than for the people. Inflation continues to soar every finan...