What is the perfect tax structure?

Administrative ease, simplicity, fairness, transparency, and adequacy are the conditions that must be fulfilled for creating a good tax structure. There are 3 types of tax structure such as progressive, proportional, and regressive. You can read about the Taxation System in India – Types, GST, VAT, Objectives, Limitation, Laffer Curve in the given link.

Tax efficiency is when an individual or business pays the least amount of taxes required by law.

Further readings:

  1. Global Minimum Corporate Tax – Minimum tax rate proposed by the G7
  2. Base Erosion and Profit Sharing – Strategies used by Multinational Companies

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