If you’re looking for an essay on the role of income tax in nation building and you’re unable to find it, then this post might help you.
In this post we will give you an essay on role of income tax in nation building which will definitely fulfill your need.
Essay On Role Of Income Tax In Nation Building
The role of income tax in nation-building is substantial because with the help of income tax government is able to make development in nation like making smart city, building roads and other infrastructure in a country and providing financial support to nations citizens who are going through crisis.
Prior to the internet era most people were not aware or not knowledge about income tax, but after the digital revolution now many people are becoming aware about income tax stuff.
People are getting easily knowledge about income tax without reading books because Internet has enabled it.
If a person or firm’s income is taxable, then that person or firm has to pay tax to the government according to the income tax slab.
Also, there is another type of tax is the government gets tax on sale of goods and services.
Income tax is a big chapter; this was simply an overview of Income tax. Our motive here is to understand the role of income taxes in nation building.
So here are some important roles of income tax which assist in nation building.
Role of Income Tax In Nation Building
1) Salaries to Government Employees
The one main source that the government gets is revenue is form collecting income tax.
To run different government services in the nation, the government has to pay monthly salaries for things like bus drivers, special forces (army, police, forest officers, etc), elected members of houses, doctors, teachers and many others.
Obviously, these government employees play a substantial role in the development of the nation.
And to sustain these employees for longer periods while building the nation government has paid them salaries on a monthly basis and promoted them in new positions over the time.
For paying salaries to government employees, the government uses collected revenue from various income taxes.
So important role of income tax in nation building is to remember is that it assists in paying salaries of government employees.
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2) Establishment Of Infrastructure
The establishment of infrastructure is one of the best roles of income tax revenue in building a nation.
Infrastructure is necessary part of great nation and if nation wants to become great in world nation must have high high level infrastructure.
That includes health care infrastructure in a nation; top level educational infrastructure, road and transport infrastructure are some important infrastructure needs to build a nation.
Action to build infrastructure in the nation helps drive further investment in the nation.
And those firms and people pay income taxes to the government, which are used to build the infrastructure of a nation, or for the development of a nation.
3) Provides Help During Crisis
In a nation weather is not always calm and cool; often a nation faces crisis like flood, drought, war or a pandemic crisis at times of crisis many people are unable to withstand.
So crisis time nations people need different types of help; some need to reconstruct their homes which are damaged due to floods; farmers need compensation for their crops destruction due to floods; families need financial aid because they lost their family member in war.
And helping these people is essential in building a nation, for that government provides help during a crisis.
This help is possible because of income taxes system of nation.
So the role of income taxes in a nation is that it assists in providing help to people during worst periods in a nation.
Salaries to government employees, establishment of infrastructure, and providing help during crises are important roles of income taxes in building a nation.
Note: In this post, we gave you an essay on role of income taxes and also briefly talked about essentiality of income taxes. Hoping this post will add value.