After reading this article you will learn about the meaning and classification of public revenue. Meaning of Public Revenue: According to Dalton income of a public authority may be defined either in a broad or in a narrow sense. In the broad sense it includes all 'incomings' or 'receipts'. In the narrow sense it includes only those receipts which are [...]
Dalton discusses the economic effect of taxation under the following three heads: 1. Effect of Taxation on Production, 2. Effect of Taxation on Distribution 3. Other Effects. 1. Effect of Taxation on Production: According to Dalton effect of taxation on production can be in the following three ways: (a) Effect on ability to work, save and invest. (b) Effect upon [...]
After reading this article you will learn about the characteristics and views about the sound tax system. Characteristics of a Good Tax System: Any system of taxation must be looked at as a whole. That is part of the economic system. Different taxes possess different effects upon the various economic activities. Moreover, these taxes through their effects correct and balance [...]