IDENTIFY AND ASSESS THE KEY COMPONENTS INFLUENCING LOCAL TAX RETURNS IN ASEAN COUNTRIES
Journal Title: SPRY JOURNAL OF ECONOMICS AND MANAGEMENT SCIENCES - Year 2022, Vol 1, Issue 1
Abstract
Background: Taxes are regarded as an efficient tool for the country to regulate the macro-economy, which is primarily utilized to finance expenses, in addition to serving as the primary source of national net profit. Taxes are a significant source of income and a significant share of overall national net profit in emerging Southeast Asian (ASEAN) economies. Aim: The current research seeks to determine the key components influencing the tax return policy in all ASEAN nations during the existing time frame to suggest policy changes and suggestions that will assist in the growth of the political and economic system as a whole as well as the optimization of the tax return structure. Method: The research presented in this article includes panel data from ten nations from 2002 to 2020. The World Bank’s World Indicators are a source of information on tax returns, level of economic development (GDP), trade, foreign direct investment (FDI), agricultural value added (ARG), industrial sector value added (IND), education level, average lifespan, and infant death ratio. Results: The study results illustrate that five out of the eight above components positively affect tax returns. FDI, IND, SCHTER, and INFDEATH have no statistical significance. This implies that when all other factors are held constant, the total national tax return is unaffected by foreign direct investment, the industry share in the GDP, the degree of education, or the infant death ratio. Conclusion: Governments in ASEAN countries must take action to raise per capita income in order to raise tax returns. They should actively and adaptably use economic policy tools to closely and synchronously operate with financial measures.
Authors and Affiliations
Esha Sohail | Warda Iqbal | Noor-ul-Ain
Keywords
Related Articles
- EP ID EP721200
- DOI -
- Views 46
- Downloads 0
INCOME, A MEASURING DEVICE FOR HEALTH EXPENDITURE AND FAMILY HEALTH STATUS
A person's income is a true measuring tool to identify their health status and, ultimately, a nation's economy. It has been estimated that an average salary person's expenses are according to their monthly income. It als...
HUMAN RESOURCE MANAGEMENT PROGRESSION, ORGANIZATIONAL COMMITMENT, AND TURNOVER RATES OF THE EMPLOYEES IN THE AVIATION INDUSTRY
Purpose: The main objective of this study is to emphasize the human resource management progression, organizational commitment, and turnover rates of employees in the aviation industry. Design/ methodology/ approach...
EXPLORATORY ANALYSIS ON THE IMPORTANCE OF BUSINESS MODEL INNOVATIONS (BMIS) AND DIGITAL TRANSFORMATION IN GLOBAL MANAGEMENT CONSULTING FORMS (MCFS)
Business model innovations (BMIs) are an art of increasing advantages and creativity by mutually supporting the changes in the organization and the customer's value in its underlying operational models. Management consul...
INVESTIGATING HOW FINANCIAL MANAGEMENT MIGHT SUPPORT SUSTAINABLE DEVELOPMENT AND CORPORATE PRACTICES; THEMATIC ANALYSIS
Background: Recently, industries have become more prone to incorporate societal expectations into their business strategy. Moreover, sustainable business practices and development frequently involve adopting successful f...
IDENTIFY AND ASSESS THE KEY COMPONENTS INFLUENCING LOCAL TAX RETURNS IN ASEAN COUNTRIES
Background: Taxes are regarded as an efficient tool for the country to regulate the macro-economy, which is primarily utilized to finance expenses, in addition to serving as the primary source of national net profit. Tax...