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Several theories of taxation exist in public economics. Governments at all levels (national, regional and local) need to raise revenue from a variety of sources to finance public-sector expenditures .
Theories of how to accommodate the informal economy argue for government policies that, recognizing the value and importance of the informal sector, regulate and restrict when necessary but generally work to improve working conditions and increase efficiency and production.
In 2000, the income tax income of developed countries was 53.8% of total income, compared with 28.3% in developing countries. They believe that wages and other income of workers in the informal sector in developing countries are still free from tax collection. The same is true of the property tax situation.
A poll tax, also called a per capita tax, or capitation tax, is a tax that levies a set amount per individual. It is an example of the concept of fixed tax. One of the earliest taxes mentioned in the Bible of a half-shekel per annum from each adult Jew (Ex. 30:11–16) was a form of the poll tax. Poll taxes are administratively cheap because ...
In Africa, a 85.8 percent of employment falls under the informal sector, while in Asia and the Pacific, it accounts for 68.2 percent. The Arab States follow closely with 68.6 percent, while in the Americas, the proportion is 40.0 percent. Europe and Central Asia demonstrate the lowest prevalence of informal employment at 25.1 percent. [1]
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Tax evasion or tax fraud is an illegal attempt to defeat the imposition of taxes by individuals, corporations, trusts, and others. Tax evasion often entails the deliberate misrepresentation of the taxpayer's affairs to the tax authorities to reduce the taxpayer's tax liability, and it includes dishonest tax reporting, declaring less income ...
More difficult to assess, because of its covert and informal nature, was the significance of that part of the private sector called the "second economy." As used here, the term includes all economic arrangements or activities that, owing to their informality or their illegality, took place beyond state control or surveillance.