Western historical know-how with taxation has been that a government’s enlarged financial dependency upon taxation revenues may produce governance benefits, as it persuades the accountability and taxation of a state to its inhabitants. Implicit or Explicit contract about who should pay for taxes, for what purposes and at what rates was reached through bargaining among the ruler and the prospective tax payers. In modern OECD regions concerns of taxation remain important and central, particularly around elections.
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Planning about starting a new business? Aside from setting up the infrastructure and other business related aspects, the most significant area of attention is managing the financial practices and functions. If you are on the edge of commencing a small scale business with restricted capital, then you are obviously looking towards stretching the funds to the maximum by tight budgeting and cost cutting.
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