Tax reforms - taxes without tax laws

Vijaya Varma

MPRA Paper from University Library of Munich, Germany

Abstract: This paper suggests a new tax system without tax laws, tax collection departments and tax enforcement agencies.This new tax system will be without present system’s all Direct and Indirect taxes accompanied by tax laws, tax exemptions, multiple tax collection departments for States and Centre, compulsory accounting, auditing and tax returns to relieve 7 billion people of the world from the cobweb of ambiguous and complex tax structures, plethora of tax laws, mandatory and cumbersome accounting, auditing, tax returns and consequent quagmire of all tax related cases. Taxation, tax collection, tax enforcement, tax compliance, allocation of revenues to various ministries or departments, distribution of subsidies, implementation of welfare schemes and money supply into the economy are unified and integrated in the banking system. There will be no tax collection expenditure for the Governments and no tax compliance costs for the people either. Citizens need not maintain separate account books and submit tax returns annually for paying either Direct taxes on personal incomes or Indirect taxes while running business or industry. Yet, this new tax system envisages 20 to 30 % more revenues from single tax called "TOP Tax” - than presently accruing revenues from multiple taxes collected by different tax collection departments/agencies

Keywords: Tax reforms; taxes and revenues; budget preparation; monetary system; banking service; fiscal policy (search for similar items in EconPapers)
JEL-codes: E4 E5 H2 (search for similar items in EconPapers)
Date: 2009-12-15, Revised 2011-12-15
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:37787

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