Public finance and taxation notes pdf

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public finance and taxation notes pdf


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File Name: public finance and taxation notes
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Published 13.06.2019

Topic 4: Tax Laws Administration. Subject: Public Finance and Taxation

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Public finance

Power to search persons where he has reasonable grounds to believe that the person has excisable goods or uncustomed goods. Oversight function in public finance management - The role of National Assembly - The role of senate - The role of county assembly - The role of auditor general - The role of Internal Audit - Role of controller of budget in relation to disbursement of public funds as envisaged by the constitution and PFM Act, www. Prior to the s, budget deficits were considered to be reprehensible and indicate bad financial management. For example medical and educational facilities are made available for all the people of Ethiopia.

Nevertheless, and the link to benefits is sometimes quite weak. Hence planned expenditure and accurate foresight of earnings are the important aspects of sound government finance. Monetary policy. Social Expenditure Government takes the responsibility of protecting the interests of the community as a whole and promotes the implementation of welfare programs.

PRINCIPLES OF PUBLIC FINANCE AND TAXATION ATD LEVEL III DCM . to the government is the printing of new currency notes to increase its income.
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Compulsory Loans Fig. The last method is that government borrows from internal and external sources to finance its deficit. The deduction is made against income. Heavy taxes puglic imposed on imported goods which are substandard or goods that are available locally in plenty.

The budget is to be prepared in the prescribed manner and to be presented according to the settled norms. Gains or profits from i A business for whatever period of time carried on ii Employment or service rendered iii A right granted to another person for use or occupation of property b. The Budgetary Process at the Regional Level 45 2. The piblic is quite contrary in the case of government.

Public finance is the study of the role of the government in the economy. The purview of public finance is considered [ by whom? The proper role of government provides a starting point for the analysis of public finance. In theory, under certain circumstances, private markets will allocate goods and services among individuals efficiently in the sense that no waste occurs and that individual tastes are matching with the economy's productive abilities. If private markets were able to provide efficient outcomes and if the distribution of income were socially acceptable, then there would be little or no scope for government. In many cases, however, conditions for private market efficiency are violated.

Supply chain management in public entities. In payment of tax an element of sacrifice is involved 4. Thirdly, ability is known as the faculty interpretation? First type can be titled taxes on income and expenditure which include income tax, corporate ppdf etc! Tax Avoidance and Evasion 7.

Introductions to public financial management Legal Framework - General overview of public financial management as envisaged by the constitution - Overview of the public financial management Act - Financial regulations - Treasury circulars; meaning and application - Process of developing county government finance bills. The operations of the national and county governments on management and control of public finance - Establishment of National County Treasury - Responsibility of National and County Treasuries with respect to public funds - Establishment, purpose and composition of intergovernmental budget and economic council - The process of sharing revenue - The role of the Commission on Revenue on Allocation COR - The role of the council of governors in county financial management. Establishment of public funds in the public sector. Supply chain management in public entities. Oversight function in public finance management - The role of National Assembly - The role of senate - The role of county assembly - The role of auditor general - The role of Internal Audit - Role of controller of budget in relation to disbursement of public funds as envisaged by the constitution and PFM Act, Introduction to taxation - History and purposes of taxation - Principles of an optimal tax system - Single versus multiple tax systems - Classification of taxes and tax rates - Impact incidence and tax shifting, Lax shifting theories - Taxable capacity - Budgetary and fiscal policy tools.

4 thoughts on “Public finance and taxation revision study notes - Kenyan Exams

  1. In the modern context, we may accept Wagner's stand by including other economic and social objectives of the society in which taxation could be a helpful tool. But individual is notee own master and he need pdg ask for parliamentary approval for spending his bricks. Those who do not want them or who are not in a position to pay for them will be excluded from the consumption of these goods. The general government plus the public corporations comprise the public sector See Figure 2.👣

  2. I highly appreciate their interest in academic and research fervor particularly in the area of Taxation. Every group would try to resist a change that goes against its interests. The deduction is made taxatoin income Farm works deduction: This is a capital deduction granted only in respect of capital expenditure on agricultural land. Hence, this concept cannot be considered as a system of just tax payment by the government.

  3. Submit Feedback. The size of governments, their ability to carry out large and sophisticated operatio. Wise spending is essential for stability of government and proper earnings are a prerequisite for wise spending. Millycent Amukaga.🦹‍♂️

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