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5 pages/≈1375 words
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Mathematics & Economics
English (U.S.)
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Role of Taxation in Modern Societies (Essay Sample)


The essay on taxes is a detailed analysis of the role of taxation in modern societies, exploring the various ways in which taxes are used to fund public services, redistribute wealth, and shape economic behavior. The task of the essay was to examine the principles of taxation and the different types of taxes, including income tax, corporate tax, and consumption tax. The essay also explored the challenges of taxation, including issues related to tax evasion, tax avoidance, and the trade-offs involved in balancing revenue generation with economic growth. Additionally, the essay examined the political and ethical dimensions of taxation, including questions related to fairness, accountability, and the role of government in the economy. Overall, the goal of the essay was to provide a comprehensive overview of the complex and multifaceted topic of taxation, with insights into the various trade-offs and dilemmas involved in designing and implementing tax policies.


Taxes are payments that citizens or groups of citizens must make to their respective local, state, or federal governments. Infrastructure like roads and schools, government initiatives, and programs like Social Security and Medicare are all financed using tax income. In economics, taxes are paid by the party responsible for incurring them, whether that party is the taxable entity, such as a corporation, or the buyers of the goods produced by the firm. Among the various taxes that must be considered from an accounting perspective are payroll taxes, federal and state income taxes, sales taxes, income taxes, and corporate taxes.
Corporate taxes
An organization's after-tax earnings are subject to a tax known as a corporation tax. After subtracting the cost of items sold, selling and marketing expenses, general and administration fees, depreciation charges, research and development costs, and any other operational costs from the revenue, the often taxable profits are what is left (Stantcheva & Stefanie, p. 2330). The amount of tax due for a company is calculated using its taxable income, which is obtained by subtracting its payment from its cost of goods sold (COGS), general and administrative expenses (G&A), sale and marketing fees, research and development costs, depreciation, and any other operational costs. Corporate taxes vary from nation to nation; some are so cheap that they are called "tax havens." The amount a firm pays in taxes, or the effective corporation tax rate, is often more important

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