34 Social -- Revenue and Tax Collection

Describe about the tax and revenue system of Nepal. Also include the percentage of tax levied on different items.

1 Answers

A government earns money from various sources. This income is called revenue.
The following are the type of tax levied on differently:
- Custom duty tax.
- VAT.
- Excise duty, etc.

Tax and revenue are interrelated." Justify.

Tax is the money charged by the government to every citizen and revenue is the total money that the government earns from various source. Tax is the main source of revenue.

List down the types of tax.

The type of tax are:
- Direct tax.
- Indirect tax.

How does a tax play a significant role in development of a country?

All the tax paid the citizens and others are collected by the government and changed to a capital for conducting various developmental works. Therefore, tax plays significant role in development of a country.

Define tax and revenue.

A fee charged by a government on a product, income or activity is called tax.
The money that the government earns from various sources is called revenues.

What is royalty?

Royalty is a payment made to a writers, people who have invented things, owners of property, etc. every time their books, devices, land, etc. are bought on use by others.

What may be the consequences if the citizens don't pay their income taxes in the right manner? Write any four such consequences.

The consequences if the citizens don't pay their income tax in right manner are:
- Decrease of revenue of the govt.
- Economic crisis may occur.
- Govt. and governmental functions cannot run properly.
- No developmental activities are possible.
- Economic condition of the country will be weaker and weaker.
...

Do you think levying high tax on liquors keep people away from alcoholism? Why do you think so?

Yes, I think levying high tax on liquors helps to keep people away from alcoholism. The higher the tax is levied on liquors, the more the price of it increases. As a result, not many people will be able to afford the liquors. Therefore, the people who cannot afford the liquors stop drinking alcohol. Finally, the rate of alcoholism will be decreased. Hence levying high tax on liquors keep people away from alcoholism.

What is Malpot? You might have noticed that when people have got some work done at Malpot or any other govt. offices, It takes almost a whole day even if the work very smal...

Land revenue office that deals with the taxes, maps and so on of land is known as Malpot.
Following things could be done to speed up the working pace of govt.al organizations:
- Increasing the number of offices in different parts of the country and staff or officers in the offices.
- Implement some rules and regulations for the officers to work for the citizens.
...