QUESTION 1 Assume you are a fresh graduate from UPSA with Public Finance as one of your specializations. You have been employed by the Ministry of Finance in your country. The government of your country is in the process of designing a better tax system in order to maximize revenue for accelerated economic development. a. Your superior has assigned you the task of assisting in designing the new tax system. Discuss what a good tax system would require and explain the specific economic challenges that affect taxation in your country. (16 marks) b. Explain two (2) major reasons why the incidence of taxation should be of paramount importance to the Government. (6 marks) c. Discuss four (4) major recommendations you would offer a neigbouring country that is in the process of introducing VAT in their country. (8 marks) (30 marks)