TAX LAW DISSERTATION HELP

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Income or tax Law refers to the set of rules and laws that specify how tax authorities can demand and collect a portion of an individual's income from taxpayers. Tax law ignores the financial and economic effects in favour of focussing only on the legal elements of taxes.

The idea behind public and business law is that tax revenue serves the public interest in providing services like public infrastructure and other benefits like healthcare. Accordingly, an individual's income, business tax, corporation tax, and property tax are all responsible for paying a portion of their income as tax to the government.

Legal Structure:

Tax law is composed of 7 principles, depending upon which tax laws are developed based on accessibility, public benefit, and equal distribution of income.

1. Stable:

Although tax policy stability is important, the UK has responded to economic situations by adjusting tax rates, such as raising the corporate tax rate to 25%, which reflects the requirement for fiscal flexibility. It also helps everyone manage their discretionary income more effectively in the case of excessive inflation.

2. Sustainability:

Although taxes should come from sustainable sources, high taxes might impede economic progress, particularly given the financial difficulties the UK is facing after Brexit.

3. Adequate:

States should ensure that their tax revenue is not in deficit, which could leave them with no money to deliver public services, and that the nation's tax revenue is sufficient to pay other state obligations, which include public services.

4. Progressive:

In keeping with the public purpose of fostering justice and funding vital public services, the UK tax system continues to be progressive, guaranteeing that high-income people pay more. By means of this, it would ensure equitable benefits to society by public services that benefit those generally who earn low incomes.

5. Efficient:

One standard method of distributing tax income into an economy is to invest tax money and distribute funds in a manner that increases economic activity and minimizes the distortion in an economy.

6. Highly transparent:

Tax charges and relief from taxes should be clearly visible and at public cooperation and convenience.

7. Responsive:

Taxation systems may affect behaviour by replying to consequences and acting as a catalyst for the nation's environmental, social, and economic development.

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Through tax laws created over time, the public is required to contribute a portion of their income towards primary services like health care and education, as well as a higher quality of life. This is known as tax law. In order to write university tax law dissertation, students have to assess tax laws in light of the guiding principles that guide them.

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