Definition: The Right to pay no more than the correct amount of tax is a principle that ensures taxpayers are only obligated to pay the exact amount of tax that is legally due. This right is based on the premise that tax laws should be clear, understandable, and applied consistently to prevent overcharging. It also includes the right to claim deductions, credits, and allowances that the taxpayer is entitled to. In the context of information, this right ensures that taxpayers have access to accurate and comprehensive information about their tax obligations and entitlements, enabling them to calculate and pay the correct amount of tax. Source: EIRA team Additional information: The Right to pay no more than the correct amount of tax is an essential element of information in the context of financial management and taxation systems. This right refers to the principle that every individual or entity is only obligated to pay an amount of tax that is accurately calculated based on their income, financial activities, and applicable tax laws and regulations. In the context of information systems, this right is closely linked to the accuracy, integrity, and reliability of financial data. Information systems used for financial management and taxation purposes must be designed and operated in a way that ensures the correct calculation of tax liabilities. This includes the accurate recording and processing of financial transactions, the correct application of tax rates and rules, and the provision of reliable information for tax reporting and auditing purposes. The right to pay no more than the correct amount of tax also implies the right to access and verify the information used to calculate tax liabilities. This includes the right to receive clear and understandable tax statements, to question and appeal tax assessments, and to correct errors in financial data. Furthermore, this right is also related to the principles of fairness and transparency in taxation. It implies that tax laws and regulations should be applied equally and without discrimination, and that tax authorities should provide clear and accessible information about tax rules and procedures. In the context of information systems, this means that systems should be designed and operated in a way that supports these principles. This includes features for transparency in data processing and decision-making, mechanisms for data validation and error correction, and tools for data access and user interaction. Overall, the Right to pay no more than the correct amount of tax is a fundamental principle in taxation and financial management, and a key requirement for the design and operation of information systems in these areas. Example: 1. Tax Software: Many European individuals and businesses use tax software to ensure they are paying the correct amount of tax. This software uses algorithms to calculate tax based on the information provided by the user, such as income, expenses, and deductions. This application of information technology helps taxpayers to avoid overpayment and underpayment of taxes. 2. E-commerce Platforms: Online marketplaces operating in Europe, such as Amazon and eBay, use IT systems to calculate and collect VAT (Value Added Tax) on behalf of their sellers. This ensures that the correct amount of tax is paid on each transaction, protecting both buyers and sellers from tax errors. 3. Payroll Systems: Companies use payroll systems to calculate the correct amount of income tax and social security contributions to be deducted from their employees' salaries. These systems use information such as the employee's gross salary, tax code, and other personal circumstances to ensure the correct amount of tax is paid. 4. Tax Reporting Systems: Tax authorities in Europe use IT systems to process tax returns and calculate the amount of tax owed by each taxpayer. These systems use information provided by the taxpayer, along with tax laws and regulations, to ensure the correct amount of tax is paid. 5. Tax Consultancy Services: Tax consultants use IT tools to help their clients understand and comply with complex tax laws. These tools use information about the client's financial situation and the tax laws applicable to them to calculate the correct amount of tax to be paid. 6. Automated Tax Refunds: Some European countries have automated systems for tax refunds. These systems use information about the taxpayer's income and tax paid to calculate and issue refunds if the taxpayer has overpaid their taxes. 7. Tax Compliance Software: This type of software is used by businesses to ensure they are complying with all relevant tax laws and regulations. The software uses information about the business's income, expenses, and other financial details to calculate the correct amount of tax to be paid. LOST view: OV-Information Base Identifier: http://data.europa.eu/dr8/egovera/RightToPayNoMoreThanTheCorrectAmountOfTaxBusinessObject EIRA traceability: eira:InformationBusinessObject ABB name: egovera:RightToPayNoMoreThanTheCorrectAmountOfTaxBusinessObject EIRA concept: eira:ArchitectureBuildingBlock Last modification: 2023-07-27 dct:identifier: http://data.europa.eu/dr8/egovera/RightToPayNoMoreThanTheCorrectAmountOfTaxBusinessObject dct:title: Right to pay no more than the correct amount of tax Information