Journal of Taxation and Regulatory Framework

Walking Towards Tax for Renewable Energy and Sustainable Development: Futuristic Approach and Legal Framework

2023-11-29T04:51:14+00:00

The world transitions towards a more sustainable future, governments are increasingly relying on tax incentives to encourage the use of renewable energy sources. As the global community grapples with the urgent need for sustainable development and addresses the challenges posed by climate change, the role of tax incentives in promoting renewable energy emerges as a critical aspect of environmental policy and economic strategy. It is imperative to shift away from traditional energy sources, acknowledging the environmental consequences and the need for alternative, cleaner solutions. As nations globally commit to reducing carbon footprints and mitigating climate change, tax policies emerge as potent tools for incentivizing the adoption of renewable energy technologies. This paper delves into the intricate intersection of tax laws, renewable energy initiatives, and the
pursuit of sustainable development goals. The focus lies not only on the current legal frameworks but also on envisioning a futuristic approach to taxation that can propel the transition towards cleaner and more sustainable energy sources. The paper systematically navigates through the existing legal landscapes, scrutinizing national and international tax incentives and subsidies tailored to bolster renewable energy projects. Through meticulous analysis and evaluation, it seeks to unveil the efficacy
of these measures in fostering green energy initiatives, reducing dependence on non-renewable resources, and contributing to the broader sustainable development agenda. Drawing on illuminating case studies, the paper highlights successful instances where innovative tax policies have driven substantial advancements in the renewable energy sector. It is poised to contribute valuable insights to policymakers, businesses, and stakeholders engaged in the critical task of steering societies towards a greener, more sustainable future.

Balancing Conflicting Interest between Investment Considerations and Environmental Sustainability under Cameroonian Sectoral Laws: A legal Analysis

2024-04-01T05:15:03+00:00

The natural environment provides clean water supply, clean air, mitigate climate change/global warming and ultimately sustain the wellbeing of mankind and sundry. Furthermore, natural environmental resources not only offer livelihoods, employment, and revenue to the government, which can be utilized for education, healthcare, development, and sustainable economic models, but also ensure the well-being of the current generation without compromising the prospects of future generations to meet their needs.. Worth noting is that economic development explains why investment activities have increased at an alarming rate worldwide with favorable conditions for multilateral corporations to expand and diversify their exercises in different sectors of the economy. Unfortunately, due to unsustainable exploitation of natural resources by investors and the quest for economic growth in the world in general and Cameroon in particular, mankind has being deprived of these natural resources with much of what is relied for livelihood are at the verge of extinction. Most probably, investors seem not to comply with norms that regulate exploitation activities. It will be of essence at this juncture to examine the relationship that exist between investment laws and environmental laws and attempt to strike a balance to ensure environmental sustainability. We also aim in this article to demonstrate how investment activities have impacted negatively on the environment. This article also seeks to examine the legal mechanisms put in place by the Cameroonian legislator to protect the environment against investment activities and some constraints which cause investors not to effectively comply with them. As a result, this article ends with several strong suggestions that, if properly put into action, would contribute to ensuring the adequate adherence to environmental standards in Cameroon specifically, and globally, aiming for sustainability.

Can Tax on all Banking Transactions Replace Income Tax

2023-12-16T08:24:33+00:00

Discipline of tax is one of the most crucial discipline and any reforms pertaining to same not only changes the dimension of economy of any country but also have significant impact on the other fields including legal, economical and day to day life of individuals of that country. Taxation mechanism in India are serpentine in nature which are too complex in nature due to multiple taxes and the diverse range which makes the administration of taxation as a cumbersome process. Any proposal with an intent to reform this serpentine discourse for betterment of public and increasing revenue of government while adhering with the cannons of taxation as proposed by Adam Smith is welcomed by any State. Specially, the taxation regime pertaining to Income Tax in India is often criticised for its complex nature and previously a much heated debate pertaining to the said discourse was existed i.e., Can we abolish income tax or Can Income Tax be replaced by some other form of taxation? In 2014, a proposal in pursuance of same was put forth by Pune based Think Tank where replacement of Income Tax is suggested by implementing Banking Transaction Tax. The instant research discourse decodes this complex aspect as can we really replace Income Tax by Banking Transaction Tax in 2022 by holistically studying Income tax and Transactional taxes with statistical analysis and foreign case studies.

An Investigation on Alternative Tax Regime and Its Relevance Today

2024-04-02T03:58:38+00:00

Every year, tax laws are updated to offer a more straightforward tax structure to all Indian taxpayers. It was decided to provide individual assesses access to a new optional tax system in the union budget. This essay discusses the new optional tax system, how it compares to the previous tax arrangement, and how relevant optional taxes are in the current context. The purpose of this study is to better understand how taxpayers view optional taxes and to raise taxpayer awareness of the new tax system, the drawbacks of optional taxes, and how they will affect the upcoming fiscal year. In order to provide a more thorough analysis, a variety of research papers and journals are studied and questionnaires are used largely to collect data for this purpose. According to the paper's findings, respondents think that since there are no deductions available under the new tax regime, people will continue to pay taxes under the previous system. Nonetheless, the majority of respondents concurred that the new plan is superior than the old because it is totally dependent on each individuals income and investment level. Overall, it may be concluded that, if the new tax plan few drawbacks are ignored, it represents a positive start toward becoming the most significant tax reform in recent memory.

Cherish Growth, Advancement and Tax Structure: Addressing Social and Economic Prospects

2024-03-21T07:13:26+00:00

Tax systems are largely used to finance public spending, but they are also employed to accomplish other goals including equity and solving social and economic problems. It is crucial to design tax systems to discourage tax evasion and avoidance while minimizing taxpayer compliance costs and government administrative expenditures. Beyond just setting tax rates, consumers' decisions about savings, labor supply, and investments in human capital are greatly influenced by the layout and configuration of different tax instruments, referred to as tax structures in this paper. Tax regimes affect the decisions made by businesses regarding output, employment, investment and innovation. They also have an influence on the savings and asset selections made by investors.