Taxation History, Theory, Law and Administration

This textbook covers the concept of taxes, including their rationale, principles, design, and common errors, and addresses distortions in consumer choices and production decisions caused by tax and redressals. It also discusses the main principles of taxation, such as efficiency, equity, stabilization, revenue productivity, administrative feasibility, international neutrality, and the constitutional specification of tax assignment to different levels of government. It also illustrates different types of taxes, such as individual income tax, corporate income tax, wealth tax, retail sales/value added/goods and services tax, selective excises, property tax, minimum taxes, cash-flow tax, financial transactions tax, fringe benefits tax, customs duties and export taxes, environment tax and global carbon tax, and user charges.

Format: Paperback / softback
Length: 504 pages
Publication date: 10 April 2022
Publisher: Springer Nature Switzerland AG

Tax practitioners often lack a comprehensive understanding of tax theory, while tax economists remain similarly unfamiliar with tax law and administration. Most textbooks primarily focus on the experiences of the US, UK, or European countries, leaving students in emerging economies with limited knowledge of their own taxation history. This textbook aims to bridge those gaps by providing a comprehensive coverage of the concept of taxes, including their rationale, principles, design, and common errors. It also addresses distortions in consumer choices and production decisions caused by tax and proposes redressals to mitigate these effects.

The main principles of taxation, such as efficiency, equity, stabilization, revenue productivity, administrative feasibility, international neutrality, are presented and discussed in detail. The efficiency principle mandates minimizing distortions in the market resulting from tax, while equity in taxation is achieved through progressive tax structures. Other principles also have their own implications, which are explored.

A country's constitutional specification of tax assignment to different levels of government, including central, state, and municipal levels, is elaborated upon. The UK exhibits a higher degree of centralization compared to the US, while India has amended its constitution to introduce a goods and services tax (GST) that covers both central and state governments. Drafting tax law is crucial for clarity, and this aspect is addressed by the author.

Furthermore, the book illustrates various types of taxes, including individual income tax, corporate income tax, wealth tax, retail sales/value added/goods and services tax, selective excises, property tax, minimum taxes such as the minimum alternate tax (MAT), cash-flow tax, financial transactions tax, fringe benefits tax, customs duties and export taxes, environment tax, and global carbon tax, as well as user charges.

An emerging concern regarding the inadequacy of internal revenue collection in many developing countries is highlighted. The author suggests that tax administration should be strengthened, including the use of technology to improve efficiency and reduce corruption. Additionally, the importance of public education and awareness about tax obligations is emphasized to promote voluntary compliance and reduce tax evasion.

In conclusion, this textbook offers a valuable resource for students, tax practitioners, and policymakers seeking to gain a comprehensive understanding of the concept of taxes. It provides a comprehensive coverage of tax theory, principles, design, and common errors, while also addressing distortions in consumer choices and production decisions caused by tax. The main principles of taxation are presented and discussed, and the book illustrates various types of taxes and their implications. Additionally, it highlights the need for strengthened tax administration, public education, and awareness to promote voluntary compliance and reduce tax evasion.

Weight: 825g
Dimension: 235 x 155 (mm)
ISBN-13: 9783030682163
Edition number: 1st ed. 2021