Pakistan’s socio-political front has always been a cause of limelight‚ be it due to changing political scenarios or implementation‚ enactment or revival of new economic policies. This report is an overview of the fiscal policy of Pakistan from the years 2000 to 20007. It focuses fiscal policy trends in the past few years from policy changes such as introduction of new taxes‚ abolition of a few‚ change in the ratio of direct and indirect tax‚ the number of people falling under tax brackets‚ data documentation
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A SHORT SUMMARY OF FISCAL CLIFF DEAL 2013 THE HISTORY OF U.S. TAX In order to finance the Civil War‚ the Federal Govt enacted the first federal income tax in 1861 which resulted in the 16th amendment to the Constitution in 1913. FISCAL CLIFF DEALS‚ IMPORTANT PROVISIONS‚ NEW TAX RATES The 157 – page American Taxpayer Relief Tax Act Of 2012 aka “fiscal cliff” is a result of The Bush-era tax cuts that was scheduled to expire on Dec. 31‚ 2012. The tax cuts benefited nearly every American taxpayer
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CHAPTER I THE PROBLEM AND ITS BACKGROUND Rationale Section 304 of Title V (Fiscal Administration) of the Local Government Code of 1991 (RA No. 7160). Provide the basis for governance for the conduct and management of financial affairs‚ transactions‚ and operations of provinces‚ cities‚ municipalities‚ and barangays. Local fiscal administration refers to the rational‚ effective and efficient conduct of the fiscal functions and operations of local government unitswhich embrace the systems‚ structures
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MONETARY POLICY OF PAKISTAN 2012 The basic challenge faced by Pakistan’s economy is financing its fiscal and external current account deficits. The size of these deficits may not be considered large given the current state of falling private sector investment demand in the economy. A reflection of overall low aggregate demand can be seen in the declining inflation trend‚ contraction in the real private sector credit‚ and falling volume of imports. The SBP’s monetary policy stance in FY12 so far
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ACKNOWLEDGMENT The preparation of this report is a sound example of teamwork. The experience is a valuable one because not only did the report increase our understanding and knowledge on the assigned topic‚ i.e. „Assess the reporting requirements under the Fiscal Management (Responsibility) Act no 3 of 2003 in the context of envisaged reforms in public sector financial management. It also taught us important lessons of how to incorporate out theoretical knowledge to enhance the understanding of practical
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The Philippine Local Fiscal Administration in a Decentralized Setup Decentralization in the Philippines took three forms- devolution‚ deconcentration and delegation. As Carino affirms‚ the framers of the 1987 Constitution institutionalized decentralization with the end-view of realizing democracy and development especially at the grassroots level. Devolution paved way for the transfer of political power from the central government to the local government units. This transfer of power and functions
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Fiscal Policy‚ Debt and Budget deficits in Thailand The size of Thailand government debt To judge the size of Thailand government debt is to compare it to the debt of other countries and to the debt that Thailand has had during the own past. Table 1 shows the amount of government debt for 34 countries express as a percentage of each country’s GDP in year 2009 and year 2010.On the top of the list are the heavily indebted countries of Japan and Italy‚ which have accumulated a debt that exceed
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finance which prove the importance of economic environment in business. The following factors constitute economic environment of business: (a) Economic system (b) Economic planning (c) Industry (d) Agriculture (e) Infrastructure (f) Financial & fiscal sectors (g) Removal of regional imbalances (h) Price & distribution controls (i) Economic reforms (j) Human resource and (k) Per capita income and national income The state became the encourager of savings and also an important investor and
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EVEN IF THIS COURT FINDS THAT THE INITIAL INVESTIGATORY QUESTION NEEDED MIRANDA WARNINGS‚ THE ATTENUATION DOCTRINE APPLIES TO THE STATEMENTS MADE BY THE DEFENDANT AT THE POLICE STATION WHERE HE WAS ADVISED OF HIS MIRANDA RIGHTS. The attenuation doctrine is an exception to the fruit of the poisonous tree‚ determine if the attenuation doctrine applies to a given case‚ evaluates the causal link between the initial illegal search and seizure and a subsequent search and seizure‚ allows the subsequent
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Reagan’s fiscal policies Many believe that Ronald Reagan is one of the best conservative presidents in United States history. Reagan (February 6‚ 1911-June 5‚ 2004) was the 40th president of the United States from 1981-1989. He originally was a member of the Democratic Party‚ but due to the parties’ shifting platforms during the 1950’s‚ switched to the Republican Party in 1962. Out of the many things Reagan was famous for‚ he was notorious for his implementation of supply-side fiscal policy. Ronald
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