Friday, February 28, 2020

Public sector finance and cntrol Essay Example | Topics and Well Written Essays - 750 words

Public sector finance and cntrol - Essay Example through provision of Discretionary Council Tax in a manner that: The payments are made in complex situations and incidences of anomalies thereby enabling different quarters of the society to handle issues ascribed to short term financial crises that would hinder them from paying their normal taxes. However, the essence of applying Discretionary Council of Tax should not focus on undermining the natures as well as the purpose of the Normal Council Tax Support Scheme. Moreover, it should not focus of supporting irresponsible behavior or common practices associated with not paying taxes among the quarters of the society. Consequently, the process should not focus on provision of funds in a manner that the expenditure the maximum permissible by the Local Council Tax. Another method that may be applied to achieve the desired tax charge by the council is provision of Awards. The Awards can be provided to meet current tax needs rather than compensate for past tax debts. In this regard, retrospective payments made be subjected to appreciation thereby reducing Council Tax arrears. The Process of Incremental Budgeting entails a scenario where new Budgets are formulated taking into consideration facets of the previous annual budget. In this regard, increments are usually made in order to fulfill projected needs for the current year using the pats budgets years for purposes of references. Incremental budgets are pertinent owing to the fact that it facilitates the aversion of risks, reinforces incidences of equilibrium created by political facets and provides an efficient and effective platform for stakeholder decision-making. In regard to tax setting, there are various factors that are usually taken into consideration; the fist factor is equality and uniformity. That is, all taxes should be levied in an equal and uniform manner. In addition, the process of levying tax entails a scenario whereby; certain time limits are stipulated for collection of taxes i.e. ends of every

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