Page 7 - ilovepdf_merged (20) edition 66_Neat FLIP BOOK
P. 7
Jan-Feb, 2021 Page 7
INCOME TAX EXPLAINED - THE BASICS
Social welfare packages
Continued from pg 6 tax in one way or another,
are a must in a sane be reformed to make it
and the reason is to sustain more flexible to directly
society and without taxes,
itself. reduce defaulters and tax
it would not be possible to
render such services. back. It is also important
Because taxes are the life to know that paying our
Government over the years
source of a nation, we should taxes makes us better
have used proceeds from
be patriotic to this life citizens, helping build a
taxes to build health
source in order to keep the stronger nation for its
services and other
nation functioning. That citizens and the future
institutions beneficial to
said, tax is essential to help
humanity, thereby laying a
the government give us
better foundation for the
protection, build better
future generation.
roads and bridges,
Therefore, proceeds from
institutions and provide
taxes go a long way to
social infrastructures.
improve the standard of
living in a society.
Avoid Tax Back
When being confronted with
Sustain Government
back taxes we owe the
government, we often think
of ways to cut back on it. generation that will follow.
Well, most tax laws Though tax evasion is
understand the hardships of considered unlawful, there
every taxpayer. Though, tax are means which can be
services are available for followed in order to
those who are delinquent in resolve such acts without
paying their taxes, which is having to get to court.
a helpful opportunity to However, a stitch in time
people who don't have saves nine.
A tax irrespective of its available money or funds.
name is another life source Income Tax Explained:
of government sustenance. But, why hassle you to
No government can sustain resolve defaulting tax What is Income Tax?
itself without tax. Tax duties? Paying taxes will Income Tax is a tax charged
money goes a long way in save you from the wasted on a person's income from
funding government time and energy of being employment, business and
programs, which are called in to pay or even jail investment. Persons such as
needed to keep a time for not paying taxes. employees, self-employed,
government alive. There is persons in partnership,
no government in the world In conclusion, in view of the shareholders and directors
today that does not collect above, tax services should
Continue on pg 8
