Effect of Tax Revenue on Economic Growth

Filed in Economics Project Topic by on October 18, 2020

Effect of Tax Revenue on Economic Growth

INTRODUCTION

Tax evasion is an illegal evasion of taxes by individuals, corporations and trusts. It often entails taxpayers deliberately misrepresenting the true state of their affairs to the tax authorities to reduce their tax liability and includes dishonest tax reporting, such as declaring less income, profit or gains than the amounts actually earned or overstating deductions.

Tax evasion is an activity commonly associated with the informal economy.

One measure of the extent of tax evasion is the amount of unreported income, which is the difference between the amount of income that should be reported to the tax authorities and the actual amount reported.

Both tax evasion can be viewed as forms of tax noncompliance, as they describe e a range of activities that intend to subvert a state’s tax system, although such classification of tax evasion is not indisputable, given that avoidance is lawful, within self-creating systems. (Michael & Wenzel.,2002).

Globally, the government is saddled with the responsibility of providing some basic infrastructures for her citizens. Among these are the provisions of Schools, Hospital s. construction Roads, Bridges, Railway lines, Airports and seaports.

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