This book introduces you to Public Finance. It clearly explains the objectives of public finance. It analyzes the sources of government revenue. It evaluates the types of taxes, namely, the direct tax and the indirect tax. It identifies the qualities of a good tax. It appraises the effects of taxes. It discusses the incidence of taxation. And it explores the principles of revenue allocation. More
Public finance is the study of taxation, subsidy, national debt, revenue allocation, and their effects on the economy.
Public finance is a branch of Economics that deals with how a government gets its revenue, how it spends it, and their effects on the economy.
It is in this lucid manner that this book will teach you public finance.
It clearly explains the objectives of public finance.
It analyzes the sources of government revenue. They include the direct taxes, indirect taxes, royalties, rents, fees, fines, licence, loans and aids.
It appraises taxation. It points out the reasons why the government imposes taxes.
It evaluates the direct tax. It highlights the types of direct tax. It throws light on the credit and debit sides of direct tax.
It examines the indirect tax. It highlights the types of indirect tax. It throws light on the credit and debit sides of indirect tax.
It highlights the attributes of a god tax. They include equity, convenience, certainty, economy, neutrality and flexibility.
It discusses the effects of taxation on the producers and consumers. It points out the incidence of taxation.
It explains the systems of taxation. They include the proportional tax, progressive tax and regressive tax.
It identifies the government budget. It explains the types of budget like the balanced budget, surplus budget and deficit budget.
It examines the structure of public expenditure like the recurrent expenditure and capital expenditure. It points out the effects of public expenditure.
And it clearly explains the revenue allocation in a federal system. It throws light on the principles of revenue allocation like the population, balanced development, equality, derivation, need and federal presence.
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