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We know there are different tax systems in different countries? Some are capitalist nation, some socialists and mixed economy too are there? Which country has the best tax system?
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There is no definitive answer to this question as the best tax system will depend on the individual country and its needs. Each tax system has its own strengths and weaknesses, and what may be the best tax system for one country may not be the best for another. Ultimately, the best tax system will be the one that best meets the country's needs and that is tailored to its unique economic and social situation.

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As a supporter to Capitalism I prefer the tax system in gulf countries. There is no income tax. Only corporates have a tax that too in a small percentage as low as 5 percent or so. But liquors and cigarettes do attract a tax with higher rate.
From today onwards India has a new tax system called GST ( goods and services tax ). It is a good system to collect more revenue to government. But I can't see anything good to common people as tax rates are high in India when compared to middle east.
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Well,a good tax system should first incorporate fairness, equity, transparency,simplicity and adequacy this is to say every one has a fair share of tax to pay and until this is taken into consideration a tax system can't be said to be good and of course tax payers can't be said to be paying good tax.

I don't know about others but I have always liked the pay as you earn (PAYE) way of calculating income tax it more transparent and fair way of dealing with citizens when it comes to tax payment. Those that earn higher pays more and those earning low pays low or better still there's a fixed percentage for everyone which I believe it fair enough.if it about 10% then 10% tax is deducted from all pay check monthly and the monies is used judiciously for the good of the citizens.
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I think the flat rate type of taxation should be practiced. This is the type of tax where people get to pay a certain percentage of their income to the government which is cool for most nations since this is going to bring a form of industrious attitude to the people that own industries. I always say that for any nation to move forward, there is need to inculcate this character where people will work on a level of fairness and thrive to do well in their businesses.

I would have also gone for the progressive taxation, but what I don't really like about it is that it is also a form of discouraging those businesses that are looking at making more sales which, in my opinion, is not the best way to go. Nations should not be taking more from businesses as that is a wrong notion that promotes laziness.
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Capitalism I prefer the tax system bin gulf countries. There is no income tax. Only corporates have a tax that too in a small percentage as low as 5 percent or so. But liquors and cigarettes do attract a tax with higher rate.
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If I had to guess which tax system is the best in the world I am going to have to say that TurboTax is the best one in the world
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The answer to this question is subjective, as different countries have different tax systems and what may be considered "best" for one country may not be for another. However, some tax systems are considered to be more efficient, fair and effective than others.

The Nordic countries, such as Sweden, Norway, and Denmark, are often cited as having some of the best tax systems in the world. They have high tax rates, but they also have high levels of public services and welfare, which are paid for by the taxes. These countries have a relatively high standard of living and a relatively low level of poverty and income inequality.

The Netherlands, Switzerland and Canada are also recognized as having efficient and effective tax systems.

The best tax system is one that is efficient in collecting the revenue needed to fund government services, fair in its distribution of the tax burden and simple for taxpayers to comply with. It's also important for a tax system to be able to adapt to changing economic conditions, and to be flexible enough to accommodate different needs of different groups of citizens.

It's important to note that no tax system is perfect and each has its own advantages and disadvantages. It's also important to consider the cultural, political, and economic context of the country when evaluating a tax system.
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There is no single answer to this question as different countries have different tax systems and what may work best for one country may not necessarily work best for another. Ultimately, the best tax system will depend on the economic structure, size, and socio-economic needs of the particular country. However, some of the generally accepted features which make a tax system the best include a low and simple rate structure, broad-base, minimal exemptions and deductions, and a strong system of enforcement.
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The best tax system in the world is subjective and depends on various factors such as economic stability, fairness, simplicity, and effectiveness. Some countries with highly regarded tax systems include Sweden, Denmark, and the Netherlands. Ultimately, the best tax system is one that effectively balances the needs of the government and citizens while promoting economic growth and stability.
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As different countries have different tax systems within the context of the global tax system. Some of the best tax systems include the system of value-added tax (VAT), which is located in the United Kingdom and Ireland, Sweden, and Denmark; the system of value-inclusive tax (VIT), which is located in the United States, Canada, and all of the European Union; and the system of value-for-cash (WFC), which is located in the United States, China, and the United Kingdom.
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There is no consensus on which tax system is the best in the world, as different countries have varying needs and priorities. Some countries have high tax rates but offer extensive social welfare programs, while others have lower tax rates but fewer government services. Ultimately, the effectiveness of a tax system depends on factors such as fairness, simplicity, efficiency, and effectiveness in generating revenue for public services.
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world's best tax system

It has no corporate income tax on reinvested and retained profits (and a 14-20 per cent corporate income tax rate on distributed profits). ...

It has a flat 20 per cent tax on individual income.
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There is no universally accepted "best" tax system in the world. Each country has its own tax system, which reflects its unique economic, social, and political circumstances. Different tax systems have their own advantages and disadvantages, and what may be considered the "best" tax system for one country may not necessarily work well for another. It ultimately depends on a variety of factors, including the country's goals, economic structure, and political climate.
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