The taxation is very important for every country and economy. No government can function well if they are not getting the right amount of tax revenue. This is the reason that every government in the world is very sensitive about tax returns. As an individual or business owner this the responsibility of everyone to pay their taxes and to file their tax return. Governments are also working on this strategy to incentivize those people who are paying their taxes timely. The governments are also making the tax filing easy and convenient for the people. The most catchy and quick way to increase the tax filer database, to converge all tax filer to the online platform because this will be an eccentric approach to gather massive data about taxpayers. This is the reason that now even in small economies, people and government prefer that tax should be filed online. The are other reasons why the online tax return in getting popular.
It is very convenient for people to file tax online. They don’t even have to visit the tax office to submit their tax return. The government doesn’t need to open their tax offices in every part of the country. This will reduce the tax collection cost. You will be requiring fewer resources to acquire the information. Same is for the people, they will be saving their time and they don’t have to leave their home to visits any place for submission of their tax return.
With the help of information technology, now it is very easy to educate people about tax and overdue tax return. They can visit the taxation portal; they can get tutorial that how to file tax. Any new notification can also be published on websites, even can be sent to registered users. It means that the cost of sharing information reduces exponentially. Now there is no need to hire resources, to visit people to educate them about taxation. They can get all the required information online. Also, they will help people to get a better understanding as they can refer to that information whenever they need.
This is for the benefit of both, Government and people. Yes, less paperwork is required because people will be giving all input on online forms. There are computer programs that will help to sort out all the data electronically, it means fewer human resources are required to record the taxpayer’s data. Not only this will speed up the tax filing process but it becomes more efficient and accurate. This is the right way to file tax, in this way, the Government will be able to save taxpayer money by using less resource. An individual will also save its time and money by using the online platform for tax returns.