Explain the key principles that should be taken into

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Reference no: EM133364065

Case Study: The Government of the Republic of Zambia through the Ministry of Finance and National Planning announced the reinstatement of exercise duty and value added tax on Petrol and Diesel. This was done through statutory instrument No.59 of 2022 - The value added tax (zero rating) (amendment) (No.2) order, 2022, which was issued in September 2022. Most economic analysts have argued that though this move is meant to realign public expenditure to other key social sectors, it has far reaching economic implications.

Questions: As a public finance expert, kindly answer the following questions

(a) Is Government justified to remove these indirect subsidies through the reinstatement of taxes on fuel? Provide reasons for your answer.

(b) If Government want to use taxation as instrument to grow the economy, state and explain the key principles that should be taken into consideration.

Reference no: EM133364065

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