Tax is a compulsory levy paid by individual citizens or business entities in accordance with the provisions in the applicable Taxation Law. Furthermore, some of the funds that have been deposited will be reused for the welfare of the country and the community, from paying off state debt, financing subsidies, to supporting the country’s economy. In the process, the utilization of taxes is divided into four, namely for the budget, regulation, stability, to revenue retribution. In the meantime, if you want an easy method to calculate your taxes, we suggest you visit rjincometax.com and hire a professional tax accountant who can help you.
There are a lot of benefits of taxes for the country, such as:
Taxes have benefits as a source of state income. In this case, the tax is used to finance employee expenditure, goods expenditure, maintenance, and so forth.
As for development financing, costs will be expended from government savings which in this case the main source of government savings comes from the tax sector.
Benefits of regulation
In this case, the tax is used by the government as a tool to achieve certain goals. For example, in the context of leading people to invest, both domestically and abroad, the government provides various tax relief facilities.
Other examples such as in order to protect domestic production, the government sets high import duties for products from abroad.
Benefits of stability
Thanks to funds collected through taxes, the government is able to implement policies related to price stability. Therefore, the flow of inflation can be further controlled. This can be done by regulating the circulation of money in the community, tax collection, and the use of effective and efficient taxes.
Benefits of income redistribution
With the tax, the government is able to finance all public interests, including financing development, so that it can open up employment opportunities which can later increase income.
After we carry out our obligations as taxpayers, we indirectly have helped the government program to advance development. One of the development impacts that we feel is the provision of public facilities and services, such as toll roads, bridges, schools, public transportation, and many more.