2)Know you and the others

 

2)Know you and the others.

How to understand Human Behaviors?

     The DISA behaviors

The DISA model is a common and straightforward technique of judging forms of behavior, dividing them into four colors as seen in the graphic below: red, yellow, green, an
d blue.

Case Study:-

Is the tax rate favorable at this moment? Discuss with the group.

First, we discussed Sri Lanka's tax structure.

What is Sri Lanka's tax structure?

             Indirect taxes such as excise duties, VAT, and tariffs account for 74% of government tax revenue, whereas direct taxes such as income tax, Pay-as-you-earn tax, and Economic Service Charge account for just around 9%.

Then we talked about what the current tax rates in Sri Lanka are.

•  Sri Lanka's regular corporation tax rate is 30% (up from 24% effective 1 October 2022), with a 40% levy applied to enterprises making income from betting, gambling, liquor, or tobacco. The decreased rates of 14% and 18% are removed on October 1, 2022.
• The standard rate of income tax will be increased to 30% from 24% on October 1, 2022. The mid-year rise in the income tax rate to 30% would result in two tax rates for the Year of Assessment 2022/23.

After discussing, we concluded that some taxes are now unfavorable.Then we discussed how these unfavourable taxes affect to peple.

• Unfavourable taxes can reduce disposable income, which can affect people's ability to make ends meet and decrease their standard of living.
• Unfavourable taxes can discourage work, investment, and entrepreneurship, which can lead to lower economic growth and job creation.
• Unfavourable taxes can lead to tax evasion and non-compliance, as people try to avoid paying high taxes, which can undermine the effectiveness of the tax system and reduce government revenue.

But taxes are important as a country because,

• Taxes are an important source of revenue for governments to fund public services and infrastructure such as schools, hospitals, roads, and public safety services.
• Taxes can help regulate the economy by adjusting the amount of money circulating in the economy through the government's ability to tax and spend.
• Taxes can provide stability and predictability to the economy by ensuring that everyone contributes to the cost of government and public services, rather than relying on borrowing or printing money.

So concluded that taxes should be favorable.