principles of public finance & public revanue and taxation
TRANSCRIPT
Mohammad Yousaf • Athar Inam• Abdul Sammad• Mohammad Salman• Aqib Raza• Taifoor Nazar
• Principle of public finance• Public revenue and taxation
.
Athar Inam
The role of state in economic affairs &
Functions of a modern state
The role of state in economic affairs• Adam smith• Communists
Functions of a modern state• Provision of defense and security• Direct social activities• Economic function
Economic Function• Businesses of monopolistic nature• Where private capital is not attracted• Protection of economically weak persons• Exploitation by forming monopolistic combination• Protection of consumer• State and economic planning
Abdul Sammad
• Public finance• Public finance vs. private
finance• Division of public finance
Public finance vs. private finance• Adjustment of income and expenditure• Unit of time• An individual cannot borrow from himself• Issue of currency • Provision for the future• Big changes in public finance• Surplus budgeting• Mystery shrouds individual finance
Division of public finance
Mohammad Salman
• Public expenditure• Causes of growth of public
expenditure• Principles of public expenditure
Causes of growth of public expenditure• Increase in defense expenditure• Expansion of govt. functions• Backward area & Increase in
population• Higher price level• Increase in public revenue• Duplication of expenses• Accelerating economic growth
Principles of public expenditure• The principle of maximum social advantage• The principle of economy• The principle of balanced budget• The principle of elasticity• No unhealthy effect on production and distribution
Aqib Raza
• Types of taxes• Principles of taxes
Types of taxes• Tax• Fee• Price• Special assessment
Principles of taxes• Equality or ability• Certainty• Convenience• Economy• Productivity• Elasticity• Simplicity• Diversity
of
Mohammad Yousaf
• Canons of taxation• Proportional vs. Progressive
taxation system
Principles of taxation• Benefit principle• Cost of service principle• Ability to pay principle
Proportional principle
Progressive principle
Arguments in favour of P.T.• Equality of sacrifice• More revenue• Reduce the inequality of income• Less expenses on taxation• Help canon of elasticity• Decrease unemployment
Argument against P.T.• Discourage saving• Difficult to formulate• Public show false statement