THE IMPACT OF TAX SYSTEM ON THE ECONOMIC GROWTH OF A COUNTRY
A Conceptual Research Paper Author Name: Maryam Khan (Accounting & Finance) laureatefolks@gmail.com THE IMPACT OF TAX SYSTEM ON THE ECONOMIC GROWTH OF A COUNTRY 1. INTRODUCTION A sound tax system is essential for the economic growth of the country. There are interconnections between these two elements based on policy makings, academicians, and regulatory circles. A large amount of tax revenues has required for running economic activities efficiently in developing countries. Tax revenues utilize both national and sub-national levels when the world has become a global village, then imports and exports increase. It introduced a Goods and Service Tax (GST) in many developing countries (Mcnabb, 2018). Developing countries are facing challenges in maintaining current tax revenues (Bird and Zolt, 2011). Tax structure and tax collection impact the economy by tax burden. The positive and negative impact of the tax system made the economic and tax growth more complex. In th...