Business Activity || TAXATION | Club5050 @daprado1999

Taxation is a process of allocating a stipulated amount of money to a community or group as fees for development of the central government.

Taxes are assigned to the labour force of a populace to generate income for the government for running the affairs of the state smoothly. Taxes have a governing body who oversees the affairs of taxes making sure there is huge compliance.

However it is important to note that taxes are paid by companies or enterpreneur who make profits from sales monthly or annually, based on rules and tenets hiding the taxation agency.

TAXATION COMPLIANCE

This is a process by which the population act positively towards paying their taxes. The compliance in tax paying is unstable. Some citizens do not pay their taxes and easily get away with it. Performing series of activities to ensure taxes are duly paid to ensure a smooth running of the economy. Processes to enhance taxation compliance are thus;

• LEGISLATIVE POLICIES

The Advent of democracy in various stages give free liberty to citizens to perform act in ways that pleases them. I feel if there are more strict legislative policies such as jail term or huge fine attached to taxation sector. The taxation compliance would be improved.

scenario;
^{Ahmed owns a paint factory and makes huge profit from his enterprise but he never pays his taxes. The government places amendment to the Constitution and he is warned against such vices. He sees the review and would not want to be a sacred cow, tarnishing the image of his great enterprise, therefore he pays his lingering tax}
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• TAXATION TECHNOLOGY

Improving the ease of paying taxes in a country could increase the taxation compliance in such country. The provision of easy "application" of which citizens could access their income ratio by imputing their database. And seeing available tax rate assigned to them would increase the tax compliance level of citizens

scenario;
^{Mrs. Bayo did not have the strength to locate a tax firm so she decides to use her mobile device to access the tax payment online and immediately pays up existing tax rates. Doing this also increase the tax compliance on the populace}
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• SPECIAL TAX TRIBUNAL

The judiciary system is so broad and could barely attend to taxation differences, due to other major crimes they face. It is important to note that special tribunals provided in the taxation sector to enable the process of lad enforcement fast actions towards defaulters and in a shorter period of time. This would increase the compliance in the populace ensuring the people pay their taxes and as at when due.

Business Name	Money
Owner name	@daprado1999
Address	Enugu, Nigeria