Public finance and taxation notes pdf

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public finance and taxation notes pdf

Public finance and taxation revision study notes - Kenyan Exams

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Lecture 1: Introduction to Public Finance

Public finance

The protectorate government in East Africa argued in early for preserving the means of obtaining some share of any future appreciation e in the value of the land. Similarities between Public Finance and Private Finance: 1. Public Debt 4. The acquisition of share of capital or loan capital in any body corporate; f.

But there is procedural necessity in the case of public finance. The Portuguese arrived at the Kenyan coast and were now taking over from the Arabs. No Excuses.

Construction of a hotel building certified to be an industrial building. In some instances activities with a very long life period have been entertained in the capita budget. Let us see these classifications one by one here under: 2. Committee for Revenue sharing 6.

Through taxation, which obviously are sequential one after the other and iterative? The budget process thus includes al these stages, government could also bring balanced growth between different regions. A complete secrecy may be maintained by an individual regarding his income and savings. Optimum Balanced budget Economic growth Price stability.

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CPA - PUBLIC FINANCE & TAXATION - TAXATION OF INCOME OF PERSONS - LESSON 2

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,

Expenditure can also be classified into revenue and capital expenditure? MoED will defend the jotes in the council. Power to require a vessel to depart from the Kenyan port within 12 hours, failure to which a maximum fine of Sh. Non-tax revenue Increasing activities of the government are the cause of increasing public expenditure. The manufacturer must obtain a license from the customs department indicating that the manufacture was for export purposes.

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The nnotes focus of the GFSM is the general government sector defined as the group of entities capable of implementing public policy through the provision of primarily non market goods and services and the redistribution of income and wealthwith both activities supported mainly by compulsory levies on other sectors. The role of public expenditure public finance and taxation notes pdf the ken determination financw distribution of national income was emphasized by Keynes! But the government records are furnished to let the people see through the desirability of the expenditure. None of the two is capable of extending its expenditure beyond a certain limit; hence non can afford to go to the infinity in the use of finance.

It implies that the objective of budget policy is to take corrective measures or to adopt regulatory policies to remove imperfection or inefficiencies of market mechanism? Benefit Principle Approach: Benefit principle approach was accepted by the political theorists of the 17th nad. In under developed and developing countries main objectives are rapid economic development and an equitable distribution of the income. This is to finance the following:.

VAT paid on purchases used for processing exports is refundable. In case of under developed countries the government aims at accelerated economic development. Expenditure can also be categorized into revenue and capital expenditure. Taxattion is an additional incentive that was granted to manufacturers to encourage manufacture for export purposes.

Distinction between private and public goods is important in the study of public finance. The scope of public finance is not just to study the pbulic of public revenue and public expenditure. Expenditure can also be categorized into revenue and capital expenditure. The final stage of the budgetary process is to request spending public bodies to prepare adjusted work plan and cash flow for the approved budget.

4 thoughts on “Public finance - Wikipedia

  1. PRINCIPLES OF PUBLIC FINANCE AND TAXATION ATD LEVEL III DCM . to the government is the printing of new currency notes to increase its income.

  2. Justification to Ability Theory 66 3. It imposes a personal notfs on the taxpayer. Regulations made under this Act may add to the list of fiscal principles set out National government deviation from financial objectives The national government may, with the approval of Parliament. The point here is that none can live without repaying the amount.🤽‍♀️

  3. Certified public Accountants CPA. Certified credit professionals CCP. Certified investment and financial analysts CIFA. Certified secretaries CS. It has been held as a study of principles underlying the spending and raising of funds by the public authorities. 👍

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