A minority group of individuals consider burdening the corporates with heavy taxes will bring down the level of pollution. Others contradict this view. In my opinion, additional rewards and incentives in the levy will help in reducing this environmental problem. This essay discusses in detail both the views.
Predominantly, imposing a greater ratio of tax for the companies causing pollution will increase the financial costs of the company. Companies can become hostile. In contrast, they might indulge in many ill-practices to escape the additional levy. Although it promotes environmental awareness among the corporates rarely, it mostly affects the employers of the company. For instance, a portion of the employee costs may be redirected towards the duty required to be paid to the authorities.
In addition, the destruction caused cannot be compensated by the excess levy. Alternatively, the governing body should implement more reforms to support the protection of the environment. This can be achieved through the introduction of reward schemes for the better performers and concessions on the tax to be paid by them. Furthermore, it can increase the competitive spirit among the corporates and may felicitate to advanced production methods in the future that can conserve our nature. Many developed countries use this approach in recent years.
I would like to conclude that corporates are likely to abide by the laws when they are given chances to explore. This is essential for the upliftment and betterment of our future lives. Policy makers must try to bring this change in a positive way.