Implications of Double Taxation in a Socialist Economy

Abstract

The problem of society, business and development is leadership’s inability to
draw a line between marginal utility and social value. The methods available
are those conflict line services of affluence that is measured on regression
competition. This study explores the implication of double taxation in a socialist economy. The aim of this review is to draw the attention of the Nigerian government at all levels of governance to the ills of double taxation and to the fact that the poor and particularly, the many who engage in micro-businesses surfer avoidable suppression as a result of uncoordinated tax matters. Findings reveal that the effect of arbitrary tax levies on small business entrepreneurs and farmers in developing countries is unfavourable to society, business and development; the results have always been that of resentment which brings about tax evasion and sometimes, violent protests. Therefore, the study recommends ‘the simple effect’ tax model benefits on both direct and indirect tax benefits for secured tranquillity in our society and stressed on the need to align the template model lines of tax and taxable items, to avoid or reduce the block order of double taxation in societies.