Taxing generally means demanding a certain percentage of a person's total income. It can also refer to the process of collecting taxes by a government or authority. Now, when that percentage has been deducted, taxation has taken place, and the percentage removed is known as tax.
That's a simple way of putting it. Good day, everyone. In today's blog, we will be learning some economic terms and how they affect our lives. Thanks to the Hive Learners community, which always pushes us to show how much we know about ourselves and our environment.
In today's blog, we will be talking about how bad the tax laws are in my country. How much do I have to pay every month to the government? Are they using my tax to build infrastructure and the like? In what ways can the government be made to put the taxes it takes to good use? I will share my answers to all these questions in a very honest way so you can read and see things from my perspective.
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Many people don't know they pay tax in my country because there is no governmental body that comes to their doorstep to collect tax but the truth is, everyone pays tax. From children to adults. You might be wondering now, Ok, let me break it down for you. There are direct taxes and indirect taxes.
Direct Tax
Direct tax is a tax levied on companies, as well as individuals, that cannot be passed on to another taxpayer. That is, you know you are paying tax for a particular thing. Examples include income tax, corporate tax, and property tax
Indirect Tax
Indirect taxes are levied on goods and services. In a simple term, you don't even know you have paid tax. Examples are sales tax, value-added tax (VAT), and gross receipts tax.
So, yes, everyone pays taxes. The biscuit you bought, the shopping you did at the mall, the one removed from your income, bank charges, and many more.
The truth is, I don't even know how much I pay monthly because the tax deducted from every money that comes and goes out of my bank is unfathomable. The amount of things I buy daily from the mall, I have already lost track of, so I don't know how much I pay for tax monthly, because it's like everything is out there to take money from us all in the name of tax.
In terms of the amount of tax that is paid and the infrastructure put in place by the government, I don't have much to say because the government are working but it feels like we are begging them to work or they are doing us a favor. Whatsoever is worth doing is worth doing well but you can tell that the taxpayers money isn't put to good use and the ones that are used are not properly managed because everyone who is in control of these funds is looking out for their pocket and what they will gain and this has caused many infrastructures to come out poorly. Take, for example, most public universities, which lack a lot of amenities that should benefit the students.
In conclusion, we all pay taxes, but the taxpayer funds are not properly managed, and we can tell that from the current economic state we find ourselves in. The best we can do is vote in a competent leader to help us manage these funds properly.
Thanks for reading. My name is Fashtioluwa.
I agree with you: more than just paying, we need to demand transparency and competence in public administration
Yeah
Most of them always avoid anything that would make them accountable for the funds they use
Apparently to solve the issue of taxation in our country there's serious need to vote a competent and viable leader that would be able to harness the resources for the benefit of the citizens
Yeah
I watch an interview with a northern woman who they ask “if she was given 5k and rice to vote for a particular candidate, will she vote the person?”
And she said yes she would because the 5k will solve their issue at that time
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STOPEvery nucks and crannies, they take tax from us directly or indirectly, yet, there's nothing to show for it
If only our leaders can be accountable and transparent enough...we would have grown pass this level as a Country but it is what it is
For real
And the bad part is that people don’t even care again
They just hustle and struggle to make it