MBAs should be taxed at higher rates in our country (IIMB):
in Favour
- Management professionals, Corporates and businessmen, are earning huge amount of money so; government should tax them based on their income.
- As well as MBAs have better knowledge of tax system so they are saving more money through tax rebate.
- Recently USA government brought higher taxes for rich population; such laws can bring more money to government.
in Against
- Taxation is a policy and policies are decided for masses at large. In order to avoid any discrepancy and bias rates are fixed on income and not on the basis of profession.
- MBAs and other such professionals are paying "professional taxes". So charging them again a higher rate is not required.
- Government should tax people based on their income.
Conclusion :
Taxation should be based on income rather than profession.
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