No one in this world is not aware of the term tax. Being a citizen, every person is bound to pay their respective amount of tax to the Government. The Government charges taxes as compulsory state revenue, which is a must paid contribution from every citizen’s monthly income. These contributed amounts are utilized in various welfare constructions or services for the public as a whole. Every citizen needs to return their tax every year at a particular time through tax return files.
Where most of the people are very regular about paying their tax on time, on the other hand, many people are very reluctant about paying their tax as much of the amount of their income are deducted from their respective income when it comes to tax. Let’s discuss in brief what would happen if people stopped paying taxes.
Tax evasion can be a large problem if people stop to pay their tax. Tax evasion creates substantial deficits in the government fund, and much of the works of the government would get on hold. The government needs a certain amount of money to borrow from the state to maintain its policy every year.
A tax return is important to maintain the civic as well as the academic policies of the state. The amount of tax which is contributed by the citizen is utilized to maintain the roads, railways, water lines, electricity connections, transportation systems, etc. of the country. Besides, the government builds various academic policies for the state where poor children get an education and other respective rights easily. All these are maintained by funds collected as tax. Tax file return is a great factor for the national development of the country. If you are a good citizen, then it is your duty to pay your tax on time and involve yourself in the development of the state.