Increasing Transparency In Taxation Law

Muthulakshmi B, Sastra Deemed To Be University

ABSTRACT:

In the intricate tapestry of modern democratic societies, the vital thread of transparency in taxation weaves accountability, fairness, and the bedrock of public trust within fiscal systems. It embarks on an in-depth exploration of the indispensable drive to enhance transparency in taxation and the multifaceted bouquet of advantages it bestows upon governments, taxpayers, and society as a whole. Investigation delves into the intricate concept of taxation transparency from a kaleidoscope of perspectives, spanning the realms of policy formulation, execution, and comprehensive reporting. Moreover, a discerning eye on the catalytic role played by technology and digitalization in fostering transparency, revolutionizing the landscape of tax collection, and staunchly mitigating the shadows of tax evasion. This digital frontier not only fortifies the government's revenue intake but also ushers in a renewed era of integrity in tax systems. A seismic global shift is underfoot, as nations rally towards the automatic exchange of financial information, a united front in the relentless battle against tax avoidance and evasion. This international cooperation signals a tectonic shift towards a fairer fiscal world order, wherein secrets and stratagems find no sanctuary. However, as we tread this path of enlightenment, we must also navigate through the challenging terrain. Daunting hurdles loom in the form of data privacy concerns, bureaucratic inertia, and the resolute resistance to change. This research underscores the paramount importance of effective communication and education to enlist citizens as partners in the taxation process, fostering a sense of ownership and shared responsibility. In the radiant wake of increased transparency in taxation, the dividends are bountiful. Enhanced revenue collection fuels the engine of societal progress, while the chasms of economic inequality are bridged. In this newfound light, the edifice of public confidence in government institutions stands fortified. Thus, it is not merely a bureaucratic obligation, but a sacred duty that transparent taxation represents — an indispensable cornerstone of a just and equitable society.