| Journal: |
المجلة العلمية للبحوث التجارية
المجلة العلمية للبحوث التجارية
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| Abstract: |
The tax policy of many countries aims to enhance the efficiency of economic growth through increased investment and employment to accommodate new players in the labor market. Tax policy, in coordination with monetary policy, works to alleviate financing and inflationary pressures in the local economy. The optimal tax policy is one that ensures the optimal use of economic resources by promoting a number of additional legislative amendments. This is done to increase employment rates and provide financial resources that allow for spending on services. Controlling macroeconomic indicators, most notably the state's general budget deficit, inflation, and trade balance, reducing consumption rates, raising investment rates, developing sources of growth, increasing production, and enhancing the productive capacity of the national economy are among the most important objectives of fiscal and monetary policies.
The tax system is an important element that requires regulation within a robust legal framework, as it is the primary source of public expenditures. It includes all types of taxes, fees, and all other financial deductions. It is the legislative system put in place to ensure the state's ongoing expenditures. All countries, whether developed or developing, seek to formulate their tax policy in accordance with the fluctuations of the prevailing economic system. Countries around the world are undergoing significant transformations necessitated by contemporary global economic developments, resulting from the growing expressions of economic and financial globalization. Interacting with these developments requires adjusting macroeconomic policies, including tax policies, to mitigate the adverse effects of the trends that clash with the currents accompanying globalization and their impact on macroeconomic variables. This requires countries to implement wide-ranging reforms at all political, economic, and social levels, formulated according to a comprehensive global vision, even if it is local and national in its implementation. International economic organizations, with their unparalleled political influence, have taken upon themselves the task of formulating and crystallizing reform strategies and overseeing their implementation in various countries around the world.
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