Taxation is an important tool that has helped and hurt economies the world over including those of the developing countries.
Required:
Identify FOUR (4) social impacts of taxation in Ghana. (4 marks)
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- It sees to the redistribution of income by taxing the rich more than the poor to provide services for the benefit of both.
- It prevents dumping of products from other countries to make our environment safe. Taxation can be used to rid our society of unwanted goods which create more social cost than good.
- Imposes heavier taxes from the consumption of certain harmful products (sin tax) to help conserve energies of our productive workforce.
- The provision of social amenities for the benefit of all.