Time and again, multinational companies hide information, shift profits and avoid taxes altogether in the countries where they operate. There are many schemes that have plagued the tax systems of developing countries. By implication, taxes have influence in public expenditure, where public expenditure. 2įailure to pay, or evasion of or resistance to taxation, is usually punishable by law. Tax can be defined as a financial charge or other levy imposed upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state to fund various public expenditures. The level of impact that taxing has in steering the affairs of any country cannot be overlooked or overemphasized. Tax is very key to the growth and development of any country, it is the most sustainable source of domestic financing. This phenomenon is commonly referred to as the ‘resource curse’ and relates to a complex set of political, economic and social factors. They are under pressures to use domestic resources efficiently to develop their countries especially since the abundance of resources in countries like Ghana and Nigeria has not yielded much development. Public agencies are expected to cooperate with each other, with non-profit organizations and others, to use strategic ways to manage and deliver services in modern times. The world, in which governments function, is rapidly changing from what it used to be.
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