Nineteenth Century Legal Treatises Taxation and Public Finance
principles of public finance & public revanue and taxation
Transcript of principles of public finance & public revanue and taxation
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Mohammad Yousaf • Athar Inam• Abdul Sammad• Mohammad Salman• Aqib Raza• Taifoor Nazar
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• Principle of public finance• Public revenue and taxation
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Athar Inam
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The role of state in economic affairs &
Functions of a modern state
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The role of state in economic affairs• Adam smith• Communists
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Functions of a modern state• Provision of defense and security• Direct social activities• Economic function
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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
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Abdul Sammad
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• Public finance• Public finance vs. private
finance• Division of public finance
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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
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Division of public finance
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Mohammad Salman
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• Public expenditure• Causes of growth of public
expenditure• Principles of public expenditure
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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
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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
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Aqib Raza
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• Types of taxes• Principles of taxes
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Types of taxes• Tax• Fee• Price• Special assessment
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Principles of taxes• Equality or ability• Certainty• Convenience• Economy• Productivity• Elasticity• Simplicity• Diversity
of
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Mohammad Yousaf
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• Canons of taxation• Proportional vs. Progressive
taxation system
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Principles of taxation• Benefit principle• Cost of service principle• Ability to pay principle
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Proportional principle
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Progressive principle
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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
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Argument against P.T.• Discourage saving• Difficult to formulate• Public show false statement
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