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Taxation - Essay Example

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Some of the key pillars that the general public ought to participate in are business engagement, investments in various projects within their mother country and…
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Taxation Taxation For any country’s economy to thrive, the public must make their contribution towards the achievement of this dream. Some of the key pillars that the general public ought to participate in are business engagement, investments in various projects within their mother country and finally the most important is ensuring they make their remittance of tax. It is true that every activity of the day that the state gets engaged in requires the fund by the public, since the end beneficiaries are the citizens. Taking security, for example, state has a responsibility of providing both internal and external security to its public (Committee 2013). However, this can only be possible if the public participate in funding the state in order to purchase necessary weapons and also employ the disciplinary forces. The benefit enjoyed by the public in terms of services due to their tax contribution is immeasurable. It is; therefore, appropriate to suggest that Chancellor Osborne is right when he relays the state’s perceptive of tax evasion. The Shaban Mahamood of Shadow exchequer secretary, comments on the state of living being higher than the standard expectation. From his comments, it is clear that, Shaban expects the state to make the cost of living to that level where each of the citizens living United Kingdom can afford. He has held the state at ransom for not playing its role in reducing the cost of living to its general public. Shaban’s comments clearly indicate that the state then has all the rights to demand and even place criminal charges to people evading taxation. The reason behind the support of the state is that, it will only be in a position to provide the so said services if the public plays its rightful role of paying taxes (Davidson 2011).
To understand the importance that been given to tax payment by the UK state it would be appropriate to first explore the contrary. Evasion of taxation or even hiding one’s property
offshore has been compared to a criminal act. The state has even gone further to formulate policies that strengths the taxman. In addition, the people who willingly provide the state with information regarding the evasion of tax by others will be rewarded heftily. As though this is not enough, the UK state has promised to cooperate with the rest of countries that are fighting tax evasion. In the new criminal act targeting the tax evaders, the state has included harsher punishment, longer jail terms and double payment of the evaded taxes. Furthermore, the state continues to quote the amount of recovered taxes in the past two state budget years. As was of rubberstamping the essence of paying taxes, the politician has also used the issue in their campaigns. It is clear from Prime Minister Message to the public during his campaign. Moreover, the state has also realized that, it is a subject the public opinion with regards to formulation and implementation of financial policies. Therefore, it has set aside an Angara to allow the public to make their contribution with regards to measures that should be taken to seal the taxation loopholes (Walter Sinclair 2013). It is an indication of the importance which has been attached tax paying by the state. Another measure of importance portrayed by the state is control of profit shifting and base erosion, a tax crime practiced by multination companies and business people.
In summary, the importance of paying taxes to both the public and the governments of the day cannot be compared to the contrary. The benefits enjoyed are not only economical, but spreads further to social and political. Socially, the public enjoys the serenity of not being harassed by the law and politically the state honors their promises to the citizens. It is then appropriate to concluded that, there is a need to honor our role as the public- paying of taxes- if the public services are to be availed by the state.
Reference List
Committee, Great Britain: Parliament: House of Commons: Scottish Affairs. House of Commons - Scottish Affairs Committee: The Referendum on Separation for Scotland, Session 2013-14 - HC 140-I: Vol. 3: Oral and Written Evidence, Volume 3. The Stationery Office, , 2013.
Davidson, Ian. The Scotland Bill: fourth report of session 2010-11, Vol. 1: Report, together with formal minutes, Volume 1. The Stationery Office, , 2011.
Ottaway, Richard. The future of the European Union: UK Government policy, first report of session 2013-14, Vol. 2: Oral and written evidence. The Stationery Office, , 2013.
Walter Sinclair, E. Barry Lipkin. St. Jamess Place Tax Guide 2013-2014. Palgrave Macmillan, , 2013.
http://www.bbc.com/news/uk-politics-26998208 Read More
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