100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
lecture 11 Ethics and role of taxation in the economy £9.69   Add to cart
Quickly navigate to
Preview
  2.  
  3. Middlesex University (MDX)
  4.  
  5. Tax (ACC3140)

Lecture notes

lecture 11 Ethics and role of taxation in the economy
 3 views  0 purchase

Describe the objectives of taxation and the principles of an ‘ideal’ tax. · Appreciate the macro-economic context in which the government makes revenue-raising decisions. · Describe the Chancellor’s objectives for the forthcoming fiscal year. · Reflect changes proposed in your ana...

[Show more]

Preview 2 out of 12  pages

Document information

  • August 19, 2023
  • 12
  • 2023/2024
  • Lecture notes
  • Richard jones
  • All classes

Subjects

Written for

All documents for this subject (13)

Seller

avatar-seller
anum406

Content preview

ACC3140 – TAXATION

UNIT 11 – THE UK ECONOMY, ETHICS, TAX AVOIDANCE AND TAX EVASION


GOVERNMENT SPENDING AND RECEIPTS

TOTAL £1,053BN




TOTAL £820BN

, 2022-23 (FORECAST AT NOV 2022)




WHAT IS THE PURPOSE OF TAXATION?

 The purpose of taxation is to raise revenue for the provision by the government of public service
benefits
 Generally, taxation is used as a tool for supporting and paying for the basic functions of
government
 Additionally, taxation may be used to promote behaviours believed to be for the good of the
wider community, e.g. environmental taxes



ADAM SMITH’S FOUR CANNONS OF TAXATION (1776)

 Equity (i.e. fairness)
 Certainty
 Convenience (with respect to the timing and manner of payment)
 Efficiency
 small cost of collection as a proportion of revenue raised
 no distortion of behaviour



A FAIR TAX

 Treat equal people in equal circumstances in an equal way
 Horizontal equity
 But who is equal to whom?
 Equality of income, wealth, expenditure?

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller anum406. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £9.69. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

61001 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now

Start selling
£9.69
  • (0)
  Add to cart